1032 Columbus Street, Harrisburg, OH 43126

Building Details

Building Size 1,934 SF More

Year Built 1950 More

Buildings 1 More

Stories 1 More

Construction brick More

Listing Agency: The Westwood Real Estate Co. t***@westwoodohio.com Show Phone

Listed By: Douglas D Smith · License #Sal.2018005015 Show Phone

Source: Douglaskeycresolutions

Added: Apr 24 Changed: Nov 7 Last Checked: Nov 8 at 5:30PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 1,934 SF brick medical office building, constructed in 1950, has a reception area, procedure and exam room, lab space, three private offices, a restroom, kitchenette, and storage. The property previously operated as a veterinary clinic. A vacant parcel west of the building is included in the sale, and street parking is available nearby.

On Columbus Street in Harrisburg, the property is near the Harrisburg Library, Smash Daddy's Burgers and Fries, the Central Ohio Military Museum, and the United States Post Office Harrisburg. Grove City and Columbus are described as a short drive away.

Key Highlights

• 1,934 SF brick medical office building
• Reception, procedure/exam room, lab, three private offices, restroom, kitchenette, and storage
• Constructed in 1950

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,811

Cap Rate

7.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$476,220 $476.2K

Cap Rate 7%

$340,157 $340.2K

Cap Rate 9%

$264,567 $264.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,934 SF

Gross rent

$41.8K $21.60/SF

− Vacancy

−$10.0K −$5.18/SF

EGI

$31.7K $16.42/SF

− OpEx

−$7.9K −$4.10/SF

NOI

$23.8K $12.31/SF

Area

Franklin County, OH

Vacancy

24.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$476,220

Cap Rate 7%

$340,157

Cap Rate 9%

$264,567

Alternative Uses

Best Use

Office B

$340.2K

$297.6K – $396.9K (±1% cap)

NOI $23,811 @ 7.0% cap · market cap 7.33%

Second Best

Healthcare Medical

$273.4K

$239.3K – $319.0K (±1% cap)

NOI $19,141 @ 7.0% cap · market cap 5.89%

Theoretical Best

Specialty Retail

$394.3K

$345.0K – $460.0K (±1% cap)

NOI $27,600 @ 7.0% cap · market cap 8.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Building Supply HVAC Service (Bike/Boat/Book/etc) Store Furniture & Home Goods Garden Center Grocery & Convenience Store

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

63

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 43126, OH

322

Population

162

Households

2

Avg Household Size

44

Median Age

14%

College-Educated

85%

High-School Grad

0.2 sq mi

ZIP Area

1,610

Density / Sq Mi

$60,750

Median Household Income

$34,911

Median Earnings

$850

Median Rent

$165,000

Median Home Value

Market

Average Price Trend$/SF for Medical Office Space in Franklin County, OH

$199 Jul

$188 Aug

$209 Sep

$195 Oct

Properties on Market for Medical Office Space in Franklin County

Jul

Aug

Sep

Oct

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

Frequently Asked Questions

What type of property is this?

Medical Office Space - Reception, lab space, private offices, and storage are arranged within a brick professional building.

Where is this medical office space located?

The property is located at 1032 Columbus Street Harrisburg, OH.

What is the asking price?

The asking price for this property is $324,900.

What are key features of this property?

This property features: 1,934 SF brick medical office building; Reception, procedure/exam room, lab, three private offices, restroom, kitchenette, and storage; Constructed in 1950