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    14416 State Route 113 Wakeman, OH 44889

    View on Map
    Sponsored
    For Sale
    $463,900

    MULTI_FAMILY - Wakeman, OH

    Property size:
    3,953 SF
    Lot size:
    1.90 Acres
    Days on Market:
    17
    Last Refresh:
    Mar 8 at 6:06 am

    Property Features for 14416 State Route 113

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 4, Basement, Bedroom 2
    Bedrooms
    4
    Bathrooms
    2
    APN
    07-00489.000
    Parking features
    Driveway
    Appliances
    BuiltInOven, Cooktop, Dishwasher, Microwave, Range, Refrigerator
    Size
    3,953 SF
    Lot size
    1.90 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Baseboard
    Cooling system
    Ceiling Fan(s), Window Unit(s), Whole House Fan
    Water source
    Public

    Building Details

    Year built
    1850
    Floors in Building
    2
    Building materials
    VinylSiding
    Roof type
    Fiberglass, Asphalt

    We can help!

    Listing Contact
    Terri Hewlett
    Terri Hewlett

    Real Brokerage Technologies (440) 391-1650

    Listing agent Terri Hewlett (440) 252-2592 License #2021001360

    Listing date Feb 20, 2026

    MLS# 5166836 Listing URL

    Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Versatile Multi-Unit Property in Wakeman

    This property features a main house with four bedrooms and two full bathrooms, designed for family living with common areas. Attached to the main residence is a one-bedroom, one-bath in-law suite, featuring a private entrance, kitchen, and living space. A separate two-bedroom apartment, complete with its own entrance and full amenities, offers additional independent living quarters. The property includes a backyard with open space suitable for a vegetable garden and fire pit, along with apple, pear, cherry, and peach trees. Two pole barns, one measuring 30x40 and the other 32x40, are also present. One barn features a heated interior with a cement floor. Enveloped by neighboring farmland, the property offers open views and a sense of country living while remaining conveniently positioned. The property is 3953 square feet in size and sits on a 1.9-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Department Store Bar & Pub HVAC Service Garden Center Discount Store Car Rental Facility (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wakeman
    County
    Huron
    State
    Ohio
    Longitude
    -82.368752
    Latitude
    41.328583

    Nearby Similar for Sale

    • $360,000
      14.84 Acres

      Wakeman Commercial Land with Outbuilding

      14.8 acre parcel zoned General Business with outbuilding.
      6175 Us Highway 20, Wakeman, OH 44889
      View Details
    • $195,000

      Three-Unit Multi-Family Investment Property

      Cash-flowing three-unit property in Wakeman, Ohio.
      22 Main St, Wakeman, OH 44889
      View Details

    FAQs

    What type of property is this?
    Single family property - Multi-unit property with main house, in-law suite, and apartment.
    Where is this single family property located?
    The property is located at 14416 State Route 113 Wakeman, OH.
    What is the asking price?
    The asking price for this property is $463,900.
    What are key features of this property?
    This property features: - Multiple income-generating units featuring a separate two-bedroom apartment and an in-law suite.; - Two substantial pole barns, including one with a heated interior and cement floor, offer ample space.; - Main house features four bedrooms, two full bathrooms, and generous common areas.
    (440) 252-2592
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    14416 State Route 113 Wakeman, OH 44889
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    Wakeman, OH 44889
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    14416 State Route 113 Wakeman, OH 44889
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    We can help!
    Listing Contact
    Terri Hewlett
    Terri Hewlett
    Real Estate License ID: 2021001360
    (440) 252-2592
    Learn more
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