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    18 3Rd St Waterville, OH 43566

    Sponsored
    For Sale
    $488,000

    PRIME UPTOWN WATERVILLE COMMERCIAL BUILDING - BUSINESS. 18 S Third Street Waterville, OHio 43566

    Property size:
    2,188 SF

    Description

    Added:
    Sep 28, 2025
    Days on Market:
    116
    PRIME UPTOWN WATERVILLE COMMERCIAL BUILDING - BUSINESS. 18 S Third Street Waterville, OHio 43566.
    Prime Mixed-Use, Residential/Commercial Building in Uptown Waterville. 36' x 36' approx. Building on over 11,000 SF lot in The Heart of the Town of Waterville. 2-story, 2,188 sq. Ft. Building, with a 2nd floor 2-Bedroom Apartment, and 2 out-buildings. Veterinary Clinic includes equipment, and furnishings and a 2nd story, 2 bedroom apartment. Vet Clinic and apartment, lends itself to storefront retail store, health and wellness facility, bar restaurant, shop, salon, with over 85 feet of uptown Waterville frontage. This Uptown Waterville 2-story building with 2,188 SF, 2 bedrooms, 2 bathrooms, 2 kitchens, 13 rooms, and an over 1100 SF lot is currently an active VETERINARY HOSPITAL. Prime Mixed-Use, Residential/Commercial Building in Uptown Waterville. Use the ultimate potential in this 2-story, 2,188 sq. Ft. Building, with a 2nd floor 2-Bedroom Apartment, and 2 out-buildings on an expansive 11,001 sq. ft. lot. Its prominent main street frontage provides vast exposure for your brand, attracting customers and establishing your business as a community hub. The city parking areas are close and accessible. Waterville City has proposed to use vacant land near the back of this property to offer more parking for the town. It offers an exceptional layout and potential for a shop, restaurant or business that can be a community legacy. Schedule a private viewing today call Cathy Smith 419-280-3942, Realtor since 2000 with Key Realty.

    Property Features for 18 3Rd St

    General Information

    Property type
    Office buildings
    Square Feet
    2,188 SF
    Total Parking Spaces
    5
    Elevators
    No
    Net Rentable
    2,188 SF
    Lot Size
    11,001 SF
    Occupancy
    100%

    Building Details

    Year Built
    1896
    Buildings
    3
    Stories
    2
    Units
    2

    We can help!

    Listing Contact
    Cathy Smith

    Learn more

    Property Insight Report

    HighLights

    • Vet Clinic and apartment, lends itself to storefront retail store, health and wellness facility, bar restaurant, shop, salon, with over 85 feet of uptown Waterville frontage.
    Location Intelligence

    Current Use by Public Records

    Interactive Design Solutions Website Designer dotnet technologies Computer Support And Services Black Swamp Gamers Social Club

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterville
    State
    Ohio
    Longitude
    -83.7196863
    Latitude
    41.4997851

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    FAQs

    What type of property is this?
    Office building - PRIME UPTOWN WATERVILLE COMMERCIAL BUILDING - BUSINESS. 18 S Third Street Waterville, OHio 43566
    Where is this office building located?
    The property is located at 18 3Rd St Waterville, OH.
    What is the asking price?
    The asking price for this property is $488,000.
    What are key features of this property?
    This property features: Vet Clinic and apartment, lends itself to storefront retail store, health and wellness facility, bar restaurant, shop, salon, with over 85 feet of uptown Waterville frontage.
    (419) 280-3942
    Request Owner's contact information
    18 3Rd St Waterville, OH 43566
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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
    18 3Rd St Waterville, OH 43566
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    We can help!
    Listing Contact
    Cathy Smith
    (419) 280-3942
    Learn more
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