Quadplex with Open Ground
New
For Sale
$469,000
214 E W 3rd St At N Walnut Street, Ottawa, OH 45875
Four occupied apartments sit above a ground-level area available for a new use.
Property Size3,840 SF
Price / SF$122.14
Days on Market2
Property Features for 214 E W 3rd St At N Walnut Street
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Residential Income
Zoning
Commercial
Amenities
Ceramic Tile,Concrete,Hardwood
true
2
No
8
Double Pane Windows
Accessible Utilities or Laundry,Common Area,Electric Dryer Hookup,Upper Level,Washer Hookup
Public Records
Entrance Foyer,Storage,Wide Interior Halls and Doors
Corner Lot,Landscaped,Level
Public
ENERGY STAR Qualified Doors,Levered or Graspable Door Handles,Wide Doors
0.45
21
120' W x 165' D
false
Asphalt,Off Street,Paved,Additional Parking,Alley Access
Paved
Courtyard,Lighting,Private Yard
Combination,Crawl Space,Slab
Alley,City Street
1
Building Details
Building Size
3,840 SF
Year Built
1868
Stories
2
Listing Agency:
ERA Geyer-Noakes Realty Group
(419) 303-7205
Listed By:
Douglas Fenbert
(419) 523-4780
Source:
Koehlerrealty
Added: Oct 29
Last Checked: Oct 29 at 2:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA Geyer-Noakes Realty Group
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Investment Insights
Based on property information with market context.
This commercial-zoned property contains four apartments on the upper level, each renovated between 2022 and 2025. All four units are occupied. The ground floor offers almost 3,800 square feet of open space, along with a small walk-out storage area, providing room to consider a business or additional apartments, subject to applicable approvals.
Updates include a new asphalt roof, paved parking, landscaped grounds, concrete sidewalks with stamped edging, and a new double-door entrance. The building was constructed in 1868 and occupies a corner lot at E W 3rd Street and N Walnut Street in Ottawa, Ohio.
Updates include a new asphalt roof, paved parking, landscaped grounds, concrete sidewalks with stamped edging, and a new double-door entrance. The building was constructed in 1868 and occupies a corner lot at E W 3rd Street and N Walnut Street in Ottawa, Ohio.
Key Highlights
- Four occupied upper‑level apartments, each renovated in a separate year from 2022 through 2025
- Almost 3,800 square feet of open ground‑floor space
- Small walk‑out storage area off the first level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,064
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,280
$701.3K
Cap Rate 7%
$500,914
$500.9K
Cap Rate 9%
$389,600
$389.6K
Market Conditions
NOI Build-Up for 3,840 SF
Gross rent
$52.1K $13.56/SF
− Vacancy
−$2.0K −$0.52/SF
EGI
$50.1K $13.04/SF
− OpEx
−$15.0K −$3.91/SF
NOI
$35.1K $9.13/SF
Area
Toledo, OH
Vacancy
3.80%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,280
Cap Rate 7%
$500,914
Cap Rate 9%
$389,600
Alternative Uses
Best Use
Multifamily LT 5
$500.9K
$438.3K – $584.4K
NOI $35,064 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$462.3K
$404.5K – $539.3K
NOI $32,359 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$639.1K
$559.2K – $745.6K
NOI $44,734 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,558
Businesses Nearby
Explore this area
Business Placement
Demographics for 45875, OH
11,273
Population
4,203
Households
2.7
Avg Household Size
40
Median Age
34%
College-Educated
95%
High-School Grad
102.6 sq mi
ZIP Area
110
Density / Sq Mi
$86,358
Median Household Income
$51,309
Median Earnings
$810
Median Rent
$214,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied apartments sit above a ground-level area available for a new use.
Where is this quadplex located?
The property is located at 214 E W 3rd St At N Walnut Street Ottawa, OH.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Four occupied upper‑level apartments, each renovated in a separate year from 2022 through 2025; Almost 3,800 square feet of open ground‑floor space; Small walk‑out storage area off the first level
