Single-Story Medical Office
For Sale
$399,900
830 E Main Street Lancaster, Lancaster, OH 43130
Single-story brick office built for medical use with ADA accessibility, flexible interior reconfiguration, and on-site parking.
Property Size1,904 SF
Price / SF$210.03
Days on Market46
Property Features for 830 E Main Street Lancaster
General Information
Standard status
Active
Size
1,904 SF
Total Parking Spaces
10
Taxes and HOA fees
Annual Taxes
$3,361
Amenities
No
Public
0.17
10.0
1904.0
Building Details
Building Size
1,904 SF
Year Built
1977
Year Renovated
2013
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
John Stomps
(614) 660-5959
Source:
Movenowohio
Added: Jul 7
Changed: Aug 8
Last Checked: Aug 8 at 3:53PM
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 John Stomps
Investment Insights
Based on property information with market context.
This single-story brick office building is currently configured as a medical office and includes a welcoming reception area and waiting room, three exam rooms with plumbing for sinks, multiple private offices, and a records room that could be converted to additional office or exam space. The property also features two restrooms, a dedicated break room, and ADA compliance for client and patient accessibility. Constructed with no load-bearing interior walls, the interior can be reconfigured to match a wide range of professional uses, including medical, legal, financial, or general office operations.
The building is located at 830 E Main Street in Lancaster and sits on a high-visibility, high-traffic corridor. A concrete parking lot provides approximately 10 spaces, with access from two separate alleyways, and the lot is described as well-lit for safety and usability. A partial basement accessible via an exterior stairway houses mechanical systems and offers additional storage.
With dual HVAC systems for separate climate control between the front lobby/reception areas and the rear portions, the layout supports comfort for both clients and staff. Practical infrastructure includes 200-amp electrical service and a gas hot water heater. Originally built in 1977 and remodeled in 2013, the building is offered for sale as a functional, adaptable office option for owner-occupants or investors seeking a versatile professional setting.
The building is located at 830 E Main Street in Lancaster and sits on a high-visibility, high-traffic corridor. A concrete parking lot provides approximately 10 spaces, with access from two separate alleyways, and the lot is described as well-lit for safety and usability. A partial basement accessible via an exterior stairway houses mechanical systems and offers additional storage.
With dual HVAC systems for separate climate control between the front lobby/reception areas and the rear portions, the layout supports comfort for both clients and staff. Practical infrastructure includes 200-amp electrical service and a gas hot water heater. Originally built in 1977 and remodeled in 2013, the building is offered for sale as a functional, adaptable office option for owner-occupants or investors seeking a versatile professional setting.
Key Highlights
- Single‑story brick office building built in 1977, remodeled in 2013 for medical office use
- Interior built without load‑bearing interior walls for easy reconfiguration to fit different professional uses
- Current medical layout includes reception and waiting room, three exam rooms with plumbing, private offices, and records room
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
$22,974
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
5.74%
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%
$459,480
$459.5K
Cap Rate 7%
$328,200
$328.2K
Cap Rate 9%
$255,267
$255.3K
Market Conditions
NOI Build-Up for 1,904 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
$40.9K $21.48/SF
− Vacancy
−$10.3K −$5.39/SF
EGI
$30.6K $16.09/SF
− OpEx
−$7.7K −$4.02/SF
NOI
$23.0K $12.07/SF
Area
Fairfield County, OH
Vacancy
25.10%
Lease Rate
$21.48 /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%
$459,480
Cap Rate 7%
$328,200
Cap Rate 9%
$255,267
Alternative Uses
Best Use
Office B
$328.2K
$287.2K – $382.9K
NOI $22,974 @ 7.0% cap · market cap 5.74%
Second Best
Healthcare Medical
$322.2K
$281.9K – $375.9K
NOI $22,554 @ 7.0% cap · market cap 5.64%
Theoretical Best
Warehouse
$383.8K
$335.8K – $447.7K
NOI $26,863 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
880
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43130, OH
62,010
Population
26,434
Households
2.3
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
164.5 sq mi
ZIP Area
377
Density / Sq Mi
$68,242
Median Household Income
$43,936
Median Earnings
$1,031
Median Rent
$215,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-story brick office built for medical use with ADA accessibility, flexible interior reconfiguration, and on-site parking.
Where is this medical office space located?
The property is located at 830 E Main Street Lancaster Lancaster, OH.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Single‑story brick office building built in 1977, remodeled in 2013 for medical office use; Interior built without load‑bearing interior walls for easy reconfiguration to fit different professional uses; Current medical layout includes reception and waiting room, three exam rooms with plumbing, private offices, and records room
