Building Details

Year Built 2002

Buildings 1

Stories 2

Building Size 7,000 SF

Construction brick

Listing Agency: CENTURY 21 Full Service Realty Marietta

Listed By: Amy Medley · License #OH

Source: Crexi

Added: Aug 7 Changed: Aug 18 Last Checked: Aug 18 at 5:46AM

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Investment Insights

Based on property information with market context.

This two-level brick medical office property is currently configured for dental operations, with a reception and waiting area, private offices, and three dental bays on the upper level. Two bays are designed for dual-chair use. The lower level includes a finished separate office suite plus additional unfinished space for future customization. Solar panels, an electric vehicle charging station, handicapped accessibility, and abundant natural light add practical features for occupants. The building was constructed in 2002 and is located at 10 White Oak Professional Center in Vincent, Ohio. Its corner position provides prominent visibility, while the existing medical layout and additional office areas support continued healthcare use or adaptation for other professional operations.

Key Highlights

• Two‑level brick medical office building constructed in 2002
• Upper level includes reception, waiting area, private offices, and 3 dental bays
• Two dental bays are designed to accommodate 2 chairs each

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$66,649

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

9.19%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,332,980 $1.3M

Cap Rate 7%

$952,129 $952.1K

Cap Rate 9%

$740,544 $740.5K

Market Conditions

NOI Build-Up for 6,960 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$111.1K $15.96/SF

− Vacancy

−$22.2K −$3.19/SF

EGI

$88.9K $12.77/SF

− OpEx

−$22.2K −$3.19/SF

NOI

$66.6K $9.58/SF

Area

Washington County, OH

Vacancy

20.00%

Lease Rate

$15.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,332,980

Cap Rate 7%

$952,129

Cap Rate 9%

$740,544

Alternative Uses

Best Use

Office B

$952.1K

$833.1K – $1.11M (±1% cap)

NOI $66,649 @ 7.0% cap · market cap 9.19%

Second Best

Healthcare Medical

$588.7K

$515.2K – $686.9K (±1% cap)

NOI $41,212 @ 7.0% cap · market cap 5.68%

Theoretical Best

Mixed Use

$1.62M

$1.42M – $1.89M (±1% cap)

NOI $113,245 @ 7.0% cap · market cap 15.62%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Mc Cutcheon Michael ... Dental Office

Suggested Use

Top Pick Building Supply Plumbing Service Real Estate Agency Kitchen & Bath Showroom Cafe & Coffee Shop Barber Shop

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

80

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 45784, OH

3,313

Population

1,384

Households

2.4

Avg Household Size

43

Median Age

13%

College-Educated

96%

High-School Grad

37.7 sq mi

ZIP Area

88

Density / Sq Mi

$80,096

Median Household Income

$35,278

Median Earnings

$824

Median Rent

$207,700

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Existing dental-practice improvements include private offices, treatment bays, and a separate lower-level office suite.

Where is this medical office space located?

The property is located at 10 White Oak Professional Center Vincent, OH.

What is the asking price?

The asking price for this property is $725,000.

What are key features of this property?

This property features: Two‑level brick medical office building constructed in 2002; Upper level includes reception, waiting area, private offices, and 3 dental bays; Two dental bays are designed to accommodate 2 chairs each