Turnkey Medical Office
423 Adair Ave Zanesville, OH 43701
423 Adair Ave, Zanesville, OH, 43701
$1,168,000
For Sale
$1,168,000
Modern, upgraded medical office building in Zanesville, Ohio.
Property Size3,941 SF
Lot Size0.82 Acres
Price / SF$296.37
Days on Market140
Property Features for 423 Adair Ave
General Information
- Standard status
- Active
- Size
- 3,941 SF
- Lot size
- 0.82 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1979
Listing agency
Coldwell Banker Commercial Aspire Realty Services
(614) 341-9800
Listed by
Kim Benincasa · License #SAL.2002002311
(614) 341-9800
Source
Cbcworldwide
Added: Mar 5 Updated: Jul 6 at 10:27AM Checked: Apr 9 at 9:00PM
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 Coldwell Banker Commercial Aspire Realty Services
Investment Insights
Based on property information with market context.
This 3,941 square foot medical office building is available for acquisition. Leased to Affordable Care, a nationally recognized operator with over 450 locations across 43 states, the property has undergone nearly $600,000 in upgrades since 2018. These include a full office buildout, a new HVAC system, and a new roof installed in 2024, rendering the property turnkey. Situated on 0.82 acres with flexible C-4 zoning, the asset offers stability and modern improvements. Located in Zanesville, Ohio, the property offers visibility and accessibility within a commercial and residential corridor. It benefits from close proximity to downtown Zanesville, major thoroughfares, and nearby amenities including retail, dining, and professional services. Its location provides access to I-70, making it an option for businesses seeking connectivity to Columbus, Wheeling, and surrounding markets. The area's blend of historic charm and ongoing community development creates a foundation for commercial opportunities.
Key Highlights
- Leased to Affordable Care, a nationally recognized operator with over 450 locations.
- Nearly $600,000 in upgrades since 2018, including a new roof in 2024 and a new HVAC system.
- 3,941 SF medical office building in a strong, growing market.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.1k | $21.60 |
| − Vacancy | −$7.3k | −$1.86 |
| EGI | $77.8k | $19.74 |
| − OpEx | −$31.1k | −$7.90 |
| NOI | $46.7k | $11.85 |
3,941 SF · lease $21.60/SF/yr · vacancy 8.60% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$666.9K
$583.5K – $778.1K
NOI $46,683 @ 7.0% cap · market cap 4.00%
Second Best
Office B
$632.4K
$553.3K – $737.8K
NOI $44,265 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$855.4K
$748.4K – $997.9K
NOI $59,875 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Affordable Dentures & Implants
Dental Office
Mark Cleary
Dental Office
Rodney Ray Norris
Dental Office
Rodney Norris
Dental Office
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - Modern, upgraded medical office building in Zanesville, Ohio.
Where is this medical office space located?
The property is located at 423 Adair Ave Zanesville, OH.
What is the asking price?
The asking price for this property is $1,168,000.
What are key features of this property?
This property features: Leased to Affordable Care, a nationally recognized operator with over 450 locations.; Nearly $600,000 in upgrades since 2018, including a new roof in 2024 and a new HVAC system.; 3,941 SF medical office building in a strong, growing market.
