102 Walton St Willard, OH 44890-9418
- Parking lots & garages
- 3,788 SF
- 0.14 lot acres
Current Use by Public Records
- Coks Laundry Basket / Dry Cleaner
Property Details for 102 Walton St
- Year built
- 1950
- Lot size
- 0.14 lot acres
- Property size
- 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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Willard
- County
- Huron
- State
- Ohio
- Longitude
- -82.727
- Latitude
- 41.0429
- CBSA code
- 35940
- CBSA name
- NORWALK, OH MICROPOLITAN STATISTICAL AREA
