Medical Office with Large Parking
6942 State Route 44 Ravenna, OH 44266
6942 State Route 44, Ravenna, OH, 44266
$279,000
For Sale
$279,000
All one-level, ADA-accessible medical office space with front and rear exam room suites and a large back parking lot.
Property Size2,132 SF
Lot Size1.00 Acre
Price / SF$130.86
Days on Market664
Property Features for 6942 State Route 44
General Information
- Standard status
- Active
- Size
- 2,132 SF
- Lot size
- 1.00 Acre
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1949
Listing agency
RE/MAX Trends Realty
(330) 603-9008
Listed by
Lisa Hughes · License #2016001415
(330) 603-9008
Source
Exitrealty
Added: Sep 28, 2024 Updated: Jul 22 at 10:45PM Checked: Jul 22 at 10:45PM
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 RE/MAX Trends Realty
Investment Insights
Based on property information with market context.
This all one-level, ADA-accessible property was originally a single-family home and has been most recently used as a medical office. The front section retains the main living layout, while a separate rear section was converted from a garage into additional medical office space. The front unit includes a large sitting area, kitchenette, full bathroom, half bath, and three exam rooms with sinks, along with a full basement. The rear unit provides an entryway, waiting/reception area, a large office, half bathroom, lab room, and three exam rooms with sinks.
The property sits at a busy commercial corner on State Route 44 and Route 14, directly across the street from Sheetz. Parking consists of a couple spaces at the front and a larger 20+ spot parking lot at the rear.
Both areas are designed for medical use and include separate furnaces. The roof is believed to be approximately 6–10 years old.
The property sits at a busy commercial corner on State Route 44 and Route 14, directly across the street from Sheetz. Parking consists of a couple spaces at the front and a larger 20+ spot parking lot at the rear.
Both areas are designed for medical use and include separate furnaces. The roof is believed to be approximately 6–10 years old.
Key Highlights
- 1‑acre corner property at the intersection of State Rt 44 and Rt 14 with high traffic count of 18,372 vehicles per day
- All one‑level and ADA accessible with two distinct areas: front exam‑room suite and back converted medical office/garage section
- Front unit includes living‑area layout plus full basement, sitting area, kitchenette, full bath and half bath, and 3 exam rooms with sinks
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 | $38.4k | $18.00 |
| − Vacancy | −$1.3k | −$0.59 |
| EGI | $37.1k | $17.41 |
| − OpEx | −$14.8k | −$6.96 |
| NOI | $22.3k | $10.44 |
2,132 SF · lease $18.00/SF/yr · vacancy 3.30% · expense 40.00%
Alternative Uses
Best Use
Office B
$373.4K
$326.7K – $435.6K
NOI $26,138 @ 7.0% cap · market cap 9.37%
Second Best
Healthcare Medical
$318.1K
$278.3K – $371.1K
NOI $22,266 @ 7.0% cap · market cap 7.98%
Theoretical Best
Office A
$429.4K
$375.8K – $501.0K
NOI $30,061 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - All one-level, ADA-accessible medical office space with front and rear exam room suites and a large back parking lot.
Where is this medical office space located?
The property is located at 6942 State Route 44 Ravenna, OH.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 1‑acre corner property at the intersection of State Rt 44 and Rt 14 with high traffic count of 18,372 vehicles per day; All one‑level and ADA accessible with two distinct areas: front exam‑room suite and back converted medical office/garage section; Front unit includes living‑area layout plus full basement, sitting area, kitchenette, full bath and half bath, and 3 exam rooms with sinks
