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    Property profile & analytics

    611 Liberty St Wooster, OH 44691

    • Car washes
    • 2,834 SF
    • 0.37 lot acres
    For Sale
    View listing
    $375,000
    Last Sale
    Jul 28, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2119528
    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

    • West Liberty Car Wash / Car Wash

    Property Details for 611 Liberty St

    Year built
    1995
    Lot size
    0.37 lot acres
    Property size
    2,834 SF
    Property type
    Car washes
    APN
    64-00818-000
    APU
    6400818000

    Description

    This exceptional commercial property at 611 W Liberty Street in Wooster, Ohio, presents a lucrative investment opportunity. The 2,834 square foot building, constructed in 1995 and renovated in 1999, sits on a sizable 0.368-acre corner lot in the heart of downtown Wooster. Its zoning designation is C-2 Community Commercial, ensuring flexibility for various uses. The property boasts a five-bay car wash operation, comprising two auto bays and three self-serve bays, providing a diverse revenue stream. The single-story building offers ample space for operations and potential expansion. Detailed financial information is available upon request, including a comprehensive Retail Site Analysis report. This property's prime location and established business ensure strong potential for continued success and significant return on investment. The address is 611 W Liberty Street, Wooster, OH 44691, within Wayne County. This is a rare opportunity to acquire a well-established, profitable business in a thriving downtown area. The property's history of success, combined with its strategic location, makes it an ideal investment for discerning buyers seeking a stable and growing commercial enterprise.

    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
    Wooster
    County
    Wayne
    State
    Ohio
    Longitude
    -81.9492
    Latitude
    40.799
    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
    $6,150
    $32,540
    $51,570
    $84,110
    -
    $92,970
    $147,350
    $240,320

    Comparable in this City

    • Value Estimation
      $1,260,000
      3,500 SF

      2800 Cleveland Rd

      CAR WASH • 3,500 SF
      2800 Cleveland Rd, Wooster, OH 44691-1738
      View Details
    • Value Estimation
      $515,000
      3,436 SF

      4344 Cleveland Rd

      CAR WASH • 3,436 SF
      4344 Cleveland Rd, Wooster, OH 44691-1232
      View Details
    • Value Estimation by Request
      1,118 SF

      244 Beall Ave

      CAR WASH • 1,118 SF
      244 Beall Ave, Wooster, OH 44691
      View Details
    • Value Estimation by Request
      6,096 SF

      347 Beall Ave

      CAR WASH • 6,096 SF
      347 Beall Ave, Wooster, OH 44691-3519
      View Details
    • Value Estimation by Request
      1,140 SF

      1051 Pittsburgh Ave

      CAR WASH • 1,140 SF
      1051 Pittsburgh Ave, Wooster, OH 44691
      View Details
    • Value Estimation by Request
      0.14 Acres

      Palmer St

      PARKING GARAGE, PARKING STRUCTURE • 0.14 Acres
      Palmer St, Wooster, OH 44691
      View Details

    Similar Nearby for Sale

    • $375,000
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      Wooster Auto Wash & Shop

      Prime Downtown Wooster Location, High Traffic
      611 Liberty St, Wooster, OH 44691
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    • $2,000,000
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      Wooster Multi-Use Commercial Property

      Premier investment opportunity in historic downtown Wooster with multiple revenue streams.
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    • $1,170,051
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      Dollar General NNN Lease Property

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      Downtown Wooster Corner Storefront

      Prime Wooster location, mixed-use potential.
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    • $225,000
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      Downtown Wooster Corner Lot Retail

      Former Bellstores retail property on corner lot in downtown Wooster.
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    • $199,000
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      Wooster Mixed-Use Investment

      High-street retail & rental home. Great ROI!
      516 High St, Wooster, OH 44691
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    Similar Nearby for Lease

    • $1,500 /Mo
      4,300 SF

      Retail/Office Space in Wooster

      4300 SF retail/office space in high-traffic Wooster location.
      2801 Cleveland Rd, Wooster, OH 44691
      View Details
    • $3,500 /Mo
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      Retail Space with Private Rooms

      3,600 sq ft retail space with private rooms available.
      909 Dover Rd, Wooster, OH 44691
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    • $4,000 /Mo
      89,690 SF

      Wooster Commercial Shell Space

      3,100 SF C2 shell space ready for custom build-out.
      2281 Merit Dr, Wooster, OH 44691
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    • Contact for pricing
      1,573 SF

      Wooster Meijer Retail Space

      High-traffic in-store retail space.
      4845 Burbank Rd, Wooster, OH 44691
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      2,325 SF

      Prime Retail Space, Cleveland Rd

      2,325 SF Retail Space - High Visibility
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      View Details
    • $1,800 /Mo
      4,800 SF

      Retail/Office Space with Garage Door

      Former Airgas suite suitable for retail or office use.
      3174 E Lincoln Way, Wooster, OH 44691
      View Details
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    611 Liberty St
    Wooster, OH 44691
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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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