NNN Mixed-Use Retail and
For Sale
Contact for pricing
121 West Wilson Bridge Road, Worthington, OH 43085
New construction mixed-use property with retail and medical office space, currently 100% occupied under an NNN structure.
Property Size47,883 SF
Price / SF$332.06
Days on Market80
Property Features for 121 West Wilson Bridge Road
General Information
Standard status
Active
Size
47,883 SF
Class
A
Total Parking Spaces
180
Property subtype
Mixed Use
Zoning
C - Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Core
Net Operating Income
$1,181,318
Building Details
Year Built
2025
Buildings
1
Units
9
Tenancy
Multi
Listing Agency:
Passov Real Estate Group
Listed By:
Alex Van Krevel · License #OH SAL.2018001867
(216) 831-8100
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Sep 2 at 4:54PM
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.
This new construction mixed-use asset combines retail space with medical office space and is offered for sale on an NNN basis. The property is currently 100% occupied, providing an immediately stabilized configuration for an operator or investor looking for a retail and healthcare-oriented mix in a single ownership.
Located in the Columbus, OH MSA at 121 West Wilson Bridge Road, Worthington, OH 43085, the property’s tenant-ready layout supports a blended use approach that can appeal to both retail and medical office demand drivers. The offering is positioned as a combined retail and medical office property rather than a single-purpose facility.
For tenants and buyers evaluating fit, the mix of retail and medical office space can support complementary business needs within one property framework, while the NNN structure may be appealing to those seeking a lease structure aligned with property expense responsibility. With full occupancy in place at the time of sale, the asset presents a turn-key ownership opportunity focused on continuing operations across its retail and medical office components.
Located in the Columbus, OH MSA at 121 West Wilson Bridge Road, Worthington, OH 43085, the property’s tenant-ready layout supports a blended use approach that can appeal to both retail and medical office demand drivers. The offering is positioned as a combined retail and medical office property rather than a single-purpose facility.
For tenants and buyers evaluating fit, the mix of retail and medical office space can support complementary business needs within one property framework, while the NNN structure may be appealing to those seeking a lease structure aligned with property expense responsibility. With full occupancy in place at the time of sale, the asset presents a turn-key ownership opportunity focused on continuing operations across its retail and medical office components.
Key Highlights
- New construction mixed‑use property built in 2025
- 100% occupied under an NNN structure
- Mixed‑use setup with retail and medical office space
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
3.55%
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 3.55%
Second Best
Office B
$7.20M
$6.30M – $8.40M
NOI $504,208 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$9.63M
$8.43M – $11.24M
NOI $674,346 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,042
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Emergency Animal Veterinarian — 77 E Wilson Bridge Rd, Worthington, OH 43085
- MedVet Columbus — 300 E Wilson Bridge Rd, Worthington, OH 43085
Frequently Asked Questions
What type of property is this?
Medical Office Space - New construction mixed-use property with retail and medical office space, currently 100% occupied under an NNN structure.
Where is this medical office space located?
The property is located at 121 West Wilson Bridge Road Worthington, OH.
What is the asking price?
The asking price for this property is $15,900,000.
What are key features of this property?
This property features: New construction mixed‑use property built in 2025; 100% occupied under an NNN structure; Mixed‑use setup with retail and medical office space
