Listing Agency: North Ridge Realty Group Show Phone

Listed By: John Stretch · License #2008004113 Show Phone

Source: Moodyscre

Added: Mar 24, 2020 Changed: Oct 25 Last Checked: Oct 26 at 3:24PM

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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 North Ridge Realty Group

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Investment Insights

Based on property information with market context.

This turn-key medical office suite is approximately 4,688 square feet and includes 9 wet exam rooms and 5 private offices, designed for straightforward clinical use. The space is separately metered, offering clear operational separation.

The property provides user-friendly, private suite entrance and ample parking. Public remarks also note excellent visibility from Tylersville & By-Pass Rt. 4 and a large monument sign.

The layout supports both patient exam and private office workflow, with occupancy listed as beginning 2/1/20. Additionally, the listing states there is no earnings tax.

Key Highlights

• Approximately 4,688 SF turn‑key medical suite built‑out
• 9 wet exam rooms plus 5 private offices
• Private suite entrance with user‑friendly, private access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,390

Cap Rate

8.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,067,800 $1.1M

Cap Rate 7%

$762,714 $762.7K

Cap Rate 9%

$593,222 $593.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,688 SF

Gross rent

$96.2K $20.52/SF

− Vacancy

−$25.0K −$5.34/SF

EGI

$71.2K $15.18/SF

− OpEx

−$17.8K −$3.80/SF

NOI

$53.4K $11.39/SF

Area

Butler County, OH

Vacancy

26.00%

Lease Rate

$20.52 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,067,800

Cap Rate 7%

$762,714

Cap Rate 9%

$593,222

Alternative Uses

Best Use

Healthcare Medical

$789.8K

$691.0K – $921.4K (±1% cap)

NOI $55,283 @ 7.0% cap · market cap 9.29%

Second Best

Office B

$762.7K

$667.4K – $889.8K (±1% cap)

NOI $53,390 @ 7.0% cap · market cap 8.97%

Theoretical Best

Office A

$926.9K

$811.1K – $1.08M (±1% cap)

NOI $64,884 @ 7.0% cap · market cap 10.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

116

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 45011, OH

73,596

Population

28,470

Households

2.6

Avg Household Size

38

Median Age

31%

College-Educated

88%

High-School Grad

60.4 sq mi

ZIP Area

1,218

Density / Sq Mi

$90,360

Median Household Income

$45,147

Median Earnings

$1,005

Median Rent

$272,000

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Turn-key medical suite featuring 9 wet exam rooms, 5 private offices, and a private suite entrance.

Where is this medical office space located?

The property is located at 7919-7927 Jessies Way Hamilton, OH.

What is the asking price?

The asking price for this property is $595,000.

What are key features of this property?

This property features: Approximately 4,688 SF turn‑key medical suite built‑out; 9 wet exam rooms plus 5 private offices; Private suite entrance with user‑friendly, private access