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    306 W Water St Oak Harbor, OH 43449

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    Commercial building in Oak Harbor, Ohio, suitable for retail.

    Type:Retail
    Property size:
    11,484 SF
    Added:
    Nov 21, 2025
    Days on Market:
    146
    Last Refresh:
    Dec 3 at 5:02 am

    Property Features for 306 W Water St

    General Information

    Standard status
    Active
    Size
    11,484 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1998

    Spaces For Lease

    at 306 W Water St Contact us

    We can help!

    Listing Contact
    Mary Kalabokis

    Listing agent Mary Kalabokis License #252000436

    Listing office MTM Real Estate Corp.

    Listing date Nov 21, 2025

    Source Naiglobal

    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 MTM Real Estate Corp.

    Overview

    Oak Harbor Commercial Building

    Located in Oak Harbor, Ohio, this 11,484 square foot commercial building was constructed in 1998. Zoned for commercial use, the property is suitable for retail or as a free-standing building investment. The location is strategic, offering customization options. The solid construction and maintained facilities accommodate various retail or business ventures. Situated in Ottawa County, in northwest Ohio near Lake Erie, the Village of Oak Harbor is located at the convergence of State Routes 19, 105 and 163, providing access to the Ohio Turnpike; Interstates 75, 80, 90 and 280; and US Routes 6, 23, 250 and 420. State routes 2, 51, 53, 579 and 795 are easily accessible. Norfolk Southern Railway provides two primary rail lines serving Oak Harbor with connections to major yards and ports in Toledo, Sandusky, Detroit, Chicago, Columbus, Cleveland and New York. Erie Ottawa International Airport is located 10 miles from Oak Harbor, while Toledo Express, Toledo Executive Airport and Detroit Metro are less than an hour away. The Village of Oak Harbor operates its own water, sewer and electric systems. Natural gas, refuse and recycling, and fiber optic connectivity are available through several vendors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CDReload - Online Bitcoin ... Crypto Atm Rite Aid Pharmacy Pharmacy Rite Aid Pharmacy Donald N. Stein, ... Pharmacy Rite Aid Photo (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Harbor
    County
    Ottawa
    State
    Ohio
    Longitude
    -83.150539
    Latitude
    41.5078639

    FAQs

    What type of property is this?
    Retail space - Commercial building in Oak Harbor, Ohio, suitable for retail.
    Where is this retail space located?
    The property is located at 306 W Water St Oak Harbor, OH.
    What are key features of this property?
    This property features: 11,484 SF commercial building suitable for retail or free‑standing business.; Strategic location at the convergence of State Routes 19, 105, and 163, providing easy access to major highways and transportation.; Located in Oak Harbor, Ohio, which offers customized incentive programs, including a Community Reinvestment Area (CRA) program with potential real property tax exemptions for up to 15 years.
    (239) 542-4477
    We can help!
    Listing Contact
    Mary Kalabokis
    Real Estate License ID: 252000436
    Learn More
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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
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