Mixed-Use Retail and Medical
For Sale
Contact for pricing
121 W Wilson Bridge Rd, Worthington, OH 43085
Newly constructed mixed-use property completed in 2025, combining retail space with dedicated medical office facilities.
Property Size47,883 SF
Price / SF$344.59
Days on Market96
Property Features for 121 W Wilson Bridge Rd
General Information
Standard status
Active
Size
47,883 SF
Property subtype
OFFICE
Listing Agency:
Passov Real Estate Group
(216) 831-8100
Listed By:
Alex Van Krevel · License #SAL.2018001867
(614) 949-3460
Source:
Moodyscre
Added: Jun 11
Changed: Sep 8
Last Checked: Sep 13 at 4:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Passov Real Estate Group
Investment Insights
Based on property information with market context.
Worthington Gateway is a newly constructed mixed-use retail and medical office property completed in 2025. The offering brings together purpose-built space for retail use and medical office use under one roof.
Located at 121 W Wilson Bridge Rd in Worthington, the property sits within the Worthington corridor of North Columbus, Ohio.
For sale, Worthington Gateway represents an opportunity to acquire modern, completed-in-2025 mixed-use real estate designed to support both retail and medical office operations.
Located at 121 W Wilson Bridge Rd in Worthington, the property sits within the Worthington corridor of North Columbus, Ohio.
For sale, Worthington Gateway represents an opportunity to acquire modern, completed-in-2025 mixed-use real estate designed to support both retail and medical office operations.
Key Highlights
- Newly constructed mixed‑use retail and medical office property completed in 2025
- Includes retail space plus dedicated medical office facilities within the same building
- Located in the Worthington corridor of North Columbus, Ohio
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
$564,661
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
3.42%
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%
$11,293,220
$11.3M
Cap Rate 7%
$8,066,586
$8.1M
Cap Rate 9%
$6,274,011
$6.3M
Market Conditions
NOI Build-Up for 47,883 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
$1.05M $21.96/SF
− Vacancy
−$110.4K −$2.31/SF
EGI
$941.1K $19.65/SF
− OpEx
−$376.4K −$7.86/SF
NOI
$564.7K $11.79/SF
Area
Richland County, OH
Vacancy
10.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
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%
$11,293,220
Cap Rate 7%
$8,066,586
Cap Rate 9%
$6,274,011
Alternative Uses
Best Use
Healthcare Medical
$8.07M
$7.06M – $9.41M
NOI $564,661 @ 7.0% cap · market cap 3.42%
Second Best
Office B
$7.20M
$6.30M – $8.40M
NOI $504,208 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$9.63M
$8.43M – $11.24M
NOI $674,346 @ 7.0% cap · market cap 4.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 43085, OH
25,566
Population
10,961
Households
2.3
Avg Household Size
39
Median Age
62%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
3,502
Density / Sq Mi
$112,474
Median Household Income
$63,239
Median Earnings
$1,405
Median Rent
$373,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Newly constructed mixed-use property completed in 2025, combining retail space with dedicated medical office facilities.
Where is this mixed-use property located?
The property is located at 121 W Wilson Bridge Rd Worthington, OH.
What is the asking price?
The asking price for this property is $16,500,000.
What are key features of this property?
This property features: Newly constructed mixed‑use retail and medical office property completed in 2025; Includes retail space plus dedicated medical office facilities within the same building; Located in the Worthington corridor of North Columbus, Ohio
