18-26 & 29-33 W Waterloo St 2 Multifamily Properties Offered at $8,200,000 in Canal Winchester, OH

This offering presents a rare opportunity to acquire a new construction, institutional-quality mixed-use asset in the highly desirable and rapidly growing suburb of Canal Winchester, Ohio. Situated just 15 miles southeast of downtown Columbus, the property at 18-26 West Waterloo Street and 29-33 West Waterloo Street benefits from its strategic location, offering both a charming small-town atmosphere and convenient access to the amenities and employment hubs of a major metropolitan area.
The two improved parcels also benefit from a 15-year, 100% real estate tax abatement on the vertical improvements, a significant financial incentive that enhances the property's long-term value and cash flow. The property is also located in the highly-regarded Canal Winchester Local School District, which boasts strong academic performance and a reputation for providing a quality education, making the area particularly attractive to families. Route 33, a major thoroughfare with heavy traffic, provides direct access to both I-270, which takes you into Columbus, and I-77, which leads to southeastern Ohio and continues on to the southeastern United States.
The property, consisting of two buildings completed in 2020 and 2022, features 22 impeccably maintained one- and two-bedroom apartments situated above four ground-level commercial suites. The residential component has demonstrated exceptional performance with 100% occupancy and a history of low turnover, a testament to its strong market demand. The commercial portion of the asset is similarly stable, with three of the four suites leased to credit-worthy tenants, offering a new owner a reliable income stream from day one. The fourth vacant suite presents a unique value-add opportunity, allowing a buyer to secure a new tenant and structure a lease that maximizes future returns. The current self-managed structure also provides a clear path for a buyer to realize significant cost savings and further enhance the property’s net operating income.