214 Herrick Ave Wellington, OH 44090-1317
This 16,000 square foot, vacant medical office building in Wellington, Ohio, presents a unique investment opportunity. Situated on a 0.61-acre lot, this Class C property comprises two buildings with three stories, offering ample space for various medical uses. Built in 1880 and extensively renovated in 2023, the property features a mix of ground-level resident rooms with ensuite bathrooms, upper-level offices, an elevator, and a finished lower level including a kitchen and recreation room. The property includes a paved parking lot with space for nine vehicles, plus potential for additional parking with village approval. Recent improvements include fresh paint and drywall, ceiling repairs, and cosmetic updates. A wet fire suppression sprinkler system is in place, recently updated and tested. The property is currently vacant and zoned for a use subject to review. Showings are by appointment only for qualified buyers who submit a signed non-disclosure agreement and proof of funds exceeding 50% of the asking price. The property's layout includes a reception area and is suitable for a variety of medical uses. On-street parking is also available.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.