Well, 18% is a good mid point between White and Black... So it's a nice reference. But it's not the meter calibration point. The meter calibration point is better approximated with a 12% gray. So if that's what you were thinking, you'd be a sophisticated game player if you made a 12% wall.
If you were just thinking of a target for Zone System tests, then you have a lot of leeway. Because whatever the wall tone is... is what you meter. Then you stop down several stops and make an exposure. It really doesn't matter if the wall is 75% bright gray and you meter it and stop down four stops... You'll get the same amount of light on the film as if the wall was 10% dark gray and you meter it and stop down four stops... The meter will indicate a longer exposure but in the end you will put the same amount of light on the film. So the grayness of the target is canceled out in tests.
Where the gray percent really matters is when you put the gray card into the scene of a picture you are about to take, then you remove the gray card and take the picture with those settings. Then a 12% target would get you a meter reading that will be appropriate without requiring an adjustment "just because it's the wrong gray".
Did you have any of those reasons in mind when thinking of an 18% gray? To use for Zone System tests or to use as a meter stand-in? Or were you looking for the correct neutral spectral reflection for more demanding purposes? Because if you want a real neutral across the spectrum, I don't know the formula.
But I know a simple one... Get a can of white paint and a jar of black pigment.
When I made my painted plywood target for Zone System testing - I went to the local hardware store, took a pint of white base paint off the shelf and explained what I was doing, I picked up and paid for a small container and told them to fill it with "black" pigment. It was small enough not to be a big deal, but if they complain you can always tell them to just meter out the amount of pigment that they would put in if you had ordered the paint "black".
I mixed in black pigment until I got a light gray, painted the plywood. Then after that was fully dry I added a little more black pigment to the paint, painted the other half of plywood and took meter readings until the two halves metered one f/stop different from each other...
Now that's a Minor White Zone System target. It gives you Zone 0 and Zone I in one shot. Or Zone VIII and Zone IX - whatever you shoot it gives you two different Zones.