Translation:The doctor is walking there, where the teacher waits.
'there' is just a placeholder. Apparently 'ahol' needs to refer to an antecedent. In this case 'ott' is the antecedent of 'ahol' (similar to Czech or Russian).
Hmm not too sure the English interpretation is correct English, it would probably mirror as 'The doctor is walking near/by where the teacher is waiting.
Could 'the doctor is walking over there where the teacher waits' be correct?
I do believe so, especially with a comma following "there", preceding "where". So is "ahol" a relative adverb?
To me, the use of "there" in this sentence (English version) is very awkward. I wrote "The doctor is walking where the teacher is waiting", which thankfully is accepted. In this case, "where", acting as a subordinating conjunction, kind of includes the meaning of "there", making the latter a bit redundant.