102 Walton StWillard, OH 44890

Property Details for 102 Walton St

Year built

1950

Lot size

0.14 AC

Property size (Sq ft)

3,788 SF

Property type

Parking lots & garages

APN

51-0360-02-001-0000

APU

510360020010000

Description

This exceptional investment opportunity presents a well-established, 40-year-old family-run laundromat situated on a nearly half-acre lot (0.49 acres) in Willard, Ohio. Located on the high-traffic US Route 224 commercial corridor, this multi-use property boasts a strong 10% capitalization rate based on a two-year average, offering significant growth potential. The sale includes all real estate and equipment, encompassing 36 gas dryers and 46 electric washers, an ATM, a coin machine, and a convenient PayRange app-based payment system. A substantial 1520 square foot cold storage area in the rear presents an ideal opportunity for expansion, potentially accommodating a supplementary business such as table, chair, and tent rentals. Recent upgrades include new windows on the rear of the building (2023), new exterior doors (excluding the main aluminum door), two new mini-split heating and air conditioning units, three HVAC heating unit replacements (2021), an annually inspected hot water boiler, and energy-efficient LED lighting (AEP 2021). The building features durable metal siding, a steel roof, and larger, more powerful washing machines securely anchored in concrete. Additional storage is available in the second-floor attic. A two-bedroom apartment on the second floor generates supplemental income with a month-to-month lease currently at $650 per month, inclusive of utilities (water and electric). The property comprises three parcels and is equipped with Phase 3 Electric. Detailed financial information is available upon execution of a non-disclosure agreement. This is a rare chance to acquire a thriving business with substantial upside. The 5,605 square foot building offers a unique blend of commercial and residential income streams.

• CAP approach

  CAP return

  Valuation

  6%

  $1,048,804

  6.5%

  $968,127

  7%

  $898,975

• Comparable approach

  Method

  Valuation

  Relative Method

  $892,910

  Geo Method

  $892,910

• Alternative Use

  Use

  Valuation

  Residential

  $816,651

  Hospitality

  $748,048

  Educational

  $622,367

  Medical

  $643,772

  Retail

  $968,127

Location Insight

City

Willard

County

Huron

State

Ohio

Latitude

41.0429

Longitude

-82.727

CBSA code

35940

CBSA name

NORWALK, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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