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130 E Herrick Ave 3,234 SF Retail Building Wellington, OH 44090 $320,000 ($98.95/SF) 7.50% Cap Rate
Investment Highlights
- Located at 130 E Herrick Avenue in downtown Wellington, OH, this property enjoys prime visibility and foot traffic in the heart of the village.
- Situated just 8.3 miles south of Oberlin.
Executive Summary
130 East Herrick Avenue is an AGENT OWNED prime, income-generating opportunity in the heart of downtown Wellington, OH. The current lease extends through January 2029, with three additional five-year renewal options, ensuring stable long-term cash flow. Scheduled rent increases occur every five years, while NAPA covers property taxes and insurance. The landlord is responsible only for structural and site maintenance, offering a low-management investment structure. Recent capital improvements include a new roof and electrical panel (2025) and an ADA-compliant restroom (2024). Located in a highly visible downtown corridor, this asset combines strong tenant credit with an attractive 7.5% CAP rate, making it an excellent addition to any diversified investment portfolio.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Service Station
Building Size
3,234 SF
Building Class
C
Year Built
1930
Price
$320,000
Price Per SF
$98.95
Cap Rate
7.50%
NOI
$24,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.60
Lot Size
0.12 AC
Frontage
18’ on Herrick Ave
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 18-00-022-101-052 | Improvements Assessment | $27,321 |
| Land Assessment | $11,813 | Total Assessment | $39,134 |
Property Taxes
Parcel Number
18-00-022-101-052
Land Assessment
$11,813
Improvements Assessment
$27,321
Total Assessment
$39,134
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130 E Herrick Ave
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