Listing Agency: Gerspacher Real Estate Group

Listed By: Troy Gerspacher · License #OH 2007000314 Show Phone

Source: Crexi

Added: Mar 16 Changed: Sep 24 Last Checked: Oct 5 at 7:28PM

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Investment Insights

Based on property information with market context.

This property presents a net-leased investment opportunity in the medical and residential sector, specifically catering to individuals with Intellectual and Developmental Disabilities (IDD). The property, consisting of 4 parcels totaling 6.54 acres, features 5 freestanding structures with a total area of 27,682 square feet, including a 1,344 square foot open-wall carport and a 960 square foot pole barn. The property is fully occupied by ResCare Community Living, a national provider of community living services for individuals with intellectual and developmental disabilities. ResCare has been operating on the property since its original construction in 1991 and subsequent expansion in 2012. There are five leases in place: four leases are active through 2027, each including one additional five-year renewal option, and one newly executed five-year lease for the habilitation training & treatment center, which extends through December 2031. The lease for 139 Weber Court includes annual rent increases. The projected gross annual rent for 2026 is $509,880. This offering provides a long-term investment opportunity supported by a nationally recognized tenant in a critical services sector.

Key Highlights

• 100% occupied by ResCare Community Living, a nationally recognized provider.
• Stabilized investment property on 6.54 acres with 5 freestanding structures totaling 27,682 SF.
• Long‑term leases in place, extending through 2027 and 2031.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$333,735

Cap Rate

6.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,674,700 $6.7M

Cap Rate 7%

$4,767,643 $4.8M

Cap Rate 9%

$3,708,167 $3.7M

Market Conditions

NOI Build-Up for 27,682 SF

Gross rent

$607.9K $21.96/SF

− Vacancy

−$51.7K −$1.87/SF

EGI

$556.2K $20.09/SF

− OpEx

−$222.5K −$8.04/SF

NOI

$333.7K $12.06/SF

Area

Lorain County, OH

Vacancy

8.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,674,700

Cap Rate 7%

$4,767,643

Cap Rate 9%

$3,708,167

Alternative Uses

Best Use

Healthcare Medical

$4.77M

$4.17M – $5.56M (±1% cap)

NOI $333,735 @ 7.0% cap · market cap 6.96%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$6.98M

$6.10M – $8.14M (±1% cap)

NOI $488,310 @ 7.0% cap · market cap 10.18%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Rehabilitation centers

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Law Firm Dental Office HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

189

Businesses Nearby

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Demographics for 44090, OH

11,085

Population

4,241

Households

2.6

Avg Household Size

46

Median Age

26%

College-Educated

92%

High-School Grad

100.8 sq mi

ZIP Area

110

Density / Sq Mi

$78,318

Median Household Income

$44,337

Median Earnings

$794

Median Rent

$229,600

Median Home Value

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Frequently Asked Questions

What type of property is this?

Rehabilitation center - Stabilized investment opportunity with long-term leases and a nationally recognized tenant.

Where is this rehabilitation center located?

The property is located at 139 Weber Ct Wellington, OH.

What is the asking price?

The asking price for this property is $4,795,000.

What are key features of this property?

This property features: 100% occupied by ResCare Community Living, a nationally recognized provider.; Stabilized investment property on 6.54 acres with 5 freestanding structures totaling 27,682 SF.; Long‑term leases in place, extending through 2027 and 2031.