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    Property profile & analytics

    20 Main St Rittman, OH 44270-1438

    • Banks
    • 3,936 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0284273
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Banks

    Property Details for 20 Main St

    Year built
    1920
    Lot size
    0.06 lot acres
    Property size
    3,936 SF
    Property type
    Banks
    APN
    63-00422-000
    APU
    6300422000

    Description

    This exceptional 12,960 square foot executive office building, located at 20 S. Main Street in the heart of downtown Rittman, Ohio, presents a unique investment opportunity. Originally constructed in 1920 and beautifully renovated in 2014, the property boasts a blend of historic charm and modern functionality. The building comprises three levels: a ground floor of 5,752 square feet, a second floor of 3,604 square feet, and a finished basement of equal size (3,604 square feet). The ground floor features four offices, a conference room, a full kitchenette, and an ADA-compliant bathroom. The finished basement offers an additional four offices and two bathrooms. The property sits on a 0.75-acre lot and includes 21 parking spaces, supplemented by shared parking in the rear. Three covered drive-thru lanes are also present. Updated mechanical systems were installed during the 2014 renovation, along with a new roof and interior updates. Five bank vaults remain, offering potential for creative repurposing into additional office space. This vacant property is ideal for an owner-user seeking a prominent downtown location with ample space and unique features. The property's prime location in Wayne County, Ohio, and its substantial size make it an attractive prospect for a variety of businesses. The combination of historical character and modern amenities makes this a truly exceptional offering.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rittman
    County
    Wayne
    State
    Ohio
    Longitude
    -81.7812
    Latitude
    40.9722
    CBSA code
    49300
    CBSA name
    WOOSTER, OH MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,135
    $4,240
    $94,900
    $99,140
    -
    $12,100
    $271,150
    $283,250

    Comparable in this City

    • Value Estimation by Request
      2,427 SF

      237 Main St

      FINANCIAL BUILDING • 2,427 SF
      237 Main St, Rittman, OH 44270-1140
      View Details
    • Value Estimation by Request
      1,538 SF

      328 Main St

      FINANCIAL BUILDING • 1,538 SF
      328 Main St, Rittman, OH 44270-1143
      View Details
    • Value Estimation by Request
      4,275 SF

      Main St

      FINANCIAL BUILDING • 4,275 SF
      Main St, Rittman, OH 44270
      View Details
    • Value Estimation by Request
      1,485 SF

      205 Main St

      FINANCIAL BUILDING • 1,485 SF
      205 Main St, Rittman, OH 44270-1140
      View Details
    • Value Estimation by Request
      3,278 SF

      126 12th S Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,278 SF
      126 12th S Main St, Rittman, OH 44270-1428
      View Details
    • Value Estimation
      $535,000
      3,840 SF

      137 Ohio Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,840 SF
      137 Ohio Ave, Rittman, OH 44270-1562
      View Details

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    Rittman, OH 44270-1438
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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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