First-Generation Medical Office
For Sale
$2,275,000
7334 E Broad St, Blacklick, OH 43004
Newly built, single-story office suite with a flexible multi-office layout and ample on-site parking.
Property Size10,875 SF
Days on Market36
Property Features for 7334 E Broad St
General Information
Standard status
Active
Size
10,875 SF
Property subtype
Medical Office
Building Details
Building Size
10,875 SF
Listing Agency:
(614) 760-5660
Listed By:
Ed Fellows · License #OH SAL.2012001323
Source:
Capitolequities
Added: Jul 26
Changed: Aug 26
Last Checked: Aug 30 at 2:19PM
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 Ed Fellows
Investment Insights
Based on property information with market context.
The available suite is a first-generation, newly built office space featuring a flexible layout designed to accommodate a range of business and practice styles. It’s located within a single-story, multi-office property with a strong mix of medical-related tenants, and the building totals 10,875 square feet.
The property offers ample on-site parking for guests and staff and is located near Mt Carmel East Medical Campus.
This opportunity is positioned for tenants seeking a medical office environment within a property that already supports multiple medical practices.
The property offers ample on-site parking for guests and staff and is located near Mt Carmel East Medical Campus.
This opportunity is positioned for tenants seeking a medical office environment within a property that already supports multiple medical practices.
Key Highlights
- Newly built, first‑generation office suite with a flexible multi‑office layout for many practice and business styles
- Single‑story 10,875 SF building with a strong mix of medical‑related tenants (tenant profiles available upon request)
- Located near Mt Carmel East Medical Campus
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
$133,893
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
5.89%
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%
$2,677,860
$2.7M
Cap Rate 7%
$1,912,757
$1.9M
Cap Rate 9%
$1,487,700
$1.5M
Market Conditions
NOI Build-Up for 10,875 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
$234.9K $21.60/SF
− Vacancy
−$56.4K −$5.18/SF
EGI
$178.5K $16.42/SF
− OpEx
−$44.6K −$4.10/SF
NOI
$133.9K $12.31/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.60 /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%
$2,677,860
Cap Rate 7%
$1,912,757
Cap Rate 9%
$1,487,700
Alternative Uses
Best Use
Office B
$1.91M
$1.67M – $2.23M
NOI $133,893 @ 7.0% cap · market cap 5.89%
Second Best
Healthcare Medical
$1.54M
$1.35M – $1.79M
NOI $107,631 @ 7.0% cap · market cap 4.73%
Theoretical Best
Specialty Retail
$2.22M
$1.94M – $2.59M
NOI $155,197 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43004, OH
29,982
Population
11,343
Households
2.6
Avg Household Size
35
Median Age
47%
College-Educated
91%
High-School Grad
12.5 sq mi
ZIP Area
2,399
Density / Sq Mi
$101,308
Median Household Income
$52,428
Median Earnings
$1,393
Median Rent
$297,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Ingrid A. Schweinfurth, DVM — 295 Lancaster Ave, Reynoldsburg, OH 43068, United States
- Indian Creek Veterinary Hospital — 295 Lancaster Ave, Reynoldsburg, OH 43068
- Jonathan M. White, DVM — Veterinary Hospital, 295 Lancaster Ave, Reynoldsburg, OH 43068
Frequently Asked Questions
What type of property is this?
Medical Office Space - Newly built, single-story office suite with a flexible multi-office layout and ample on-site parking.
Where is this medical office space located?
The property is located at 7334 E Broad St Blacklick, OH.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: Newly built, first‑generation office suite with a flexible multi‑office layout for many practice and business styles; Single‑story 10,875 SF building with a strong mix of medical‑related tenants (tenant profiles available upon request); Located near Mt Carmel East Medical Campus
