Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    214 Mechanic St Waterville, OH 43566
    Property profile & analytics

    214 Mechanic St, Waterville, OH 43566

    View on Map
    • Retail space
    • 645 SF
    • 0.31 lot acres
    For Lease
    View Listing →
    Retail Space Available For Rent For Lease
    Contact for pricing
    645 SF

    Retail Space Available For Rent

    Single tenant retail space available, approximately 645 square feet.

    214 Mechanic St, Waterville, OH 43566
    View Listing
    Property ID
    US66-1999984
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 214 Mechanic St

    Year built
    1980
    Lot size
    0.31 lot acres
    Zone code
    39-M1
    Property type
    Retail space
    APN
    96-11034
    APU
    9611034

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 28, 2022 $150,000 W V P LLC Farzade Of Toledo INC Warranty Deed —
    Jun 8, 2022 $150,000 W P Y LLC Farzade Of Toledo INC Warranty Deed —
    Sep 28, 2018 — Earzade Of Toledo INC Gasoco Properties LLC Grant Deed · related —
    May 16, 2013 $90,000 Gasoco Properties LLC Warwick,christen Warranty Deed —

    Description

    This exceptional 645-square-foot retail space, located at 214 Mechanic Street in Waterville, Ohio, presents a fantastic opportunity for a single-tenant business. Situated on a 0.31-acre lot, this property boasts convenient access via its location on Mechanic Street and its proximity to Anthony Wayne Trail. Built in 1980, the building is a single-story structure with a 200-amp power supply, ensuring ample power for most commercial needs. The property is zoned M-1 Industrial, offering flexibility for a variety of retail uses. The entire 645 square feet is currently vacant, providing immediate occupancy for a new tenant. The property's Lucas County location (APN 11034) offers easy access to local amenities and a strong customer base. This is an ideal space for a business seeking a well-located, readily available retail space in a thriving community. The property's size and location make it perfect for a variety of retail ventures. The single-tenant occupancy ensures complete control and flexibility for the lessee. This is a rare opportunity to secure a prime retail location in Waterville, Ohio. Don't miss out on this chance to establish your business in a desirable and accessible location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterville
    County
    Lucas
    State
    Ohio
    Longitude
    -83.7194
    Latitude
    41.5009
    CBSA code
    45780
    CBSA name
    TOLEDO, OH METROPOLITAN 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
    $2,460
    $11,585
    $22,015
    $33,600
    -
    $33,100
    $62,900
    $96,000

    Comparable in this City

    • Value Estimation by Request
      1,800 SF

      19 3rd St

      RETAIL STORES (PERSONAL SERVICES)
      19 3rd St, Waterville, OH 43566-1412
      View Details
    • Value Estimation
      $510,000
      12,000 SF

      1620 Choctaw Dr

      RETAIL STORES (PERSONAL SERVICES)
      1620 Choctaw Dr, Waterville, OH 43566
      View Details
    • Value Estimation by Request
      2,796 SF

      15 3rd St

      RETAIL STORES (PERSONAL SERVICES)
      15 3rd St, Waterville, OH 43566
      View Details
    • Value Estimation by Request
      3,295 SF

      114 Mechanic St

      RETAIL STORES (PERSONAL SERVICES)
      114 Mechanic St, Waterville, OH 43566-1498
      View Details
    • Value Estimation by Request
      1.09 Acres

      8740 Waterville Swanton Rd

      RETAIL STORES (PERSONAL SERVICES)
      8740 Waterville Swanton Rd, Waterville, OH 43566-9726
      View Details
    • Value Estimation by Request
      4,266 SF

      33 Riv Rd

      RETAIL STORES (PERSONAL SERVICES)
      33 Riv Rd, Waterville, OH 43566-1449
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Equestrian Retreat with Indoor Arena

      Luxury equestrian estate on 16 acres with riding trails.
      6336 N River Rd, Waterville, OH 43566
      View Details
    • $488,000
      2,188 SF

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

      PRIME UPTOWN WATERVILLE COMMERCIAL BUILDING - BUSINESS. 18 S Third Street Waterville, OHio 43566
      18 3Rd St, Waterville, OH 43566
      View Details
    • Contact for pricing

      Land Available in Waterville, OH

      Land for sale on Waterville Swanton Road.
      Waterville Swanton Rd State Rte 64, Waterville, OH 43566
      View Details
    • Contact for pricing

      17.2 Acres on Waterville Swanton

      17.2 acres with frontage on Waterville Swanton Road.
      Waterville Swanton Rd, Waterville, OH 43566
      View Details
    • Contact for pricing

      Waterville Multi-Family Home

      Well-maintained multi-family home near Conrad Park and library.
      132 Wilkshire Dr, Waterville, OH 43566
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Versatile Waterville Studio/Warehouse/Gym Space

      Flexible space suitable for studio, warehouse, gym, or creative uses.
      215 Mechanic St, Waterville, OH 43566
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 645 square feet.
      214 Mechanic St, Waterville, OH 43566
      View Details
    • $20 SF/Yr
      14,673 SF

      Prime Retail Building, Waterville, OH

      14,673 SF Free-Standing Retail Building
      8239 Waterville Swanton Rd, Waterville, OH 43566
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    214 Mechanic St
    Waterville, OH 43566
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    214 Mechanic St, Waterville, OH, 43566
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!