Medical Condo Suite with Exam
For Sale
$239,900
830 Bethesda Drive, Zanesville, OH 43701
Move-in ready medical condo suite with three exam rooms, large waiting area, and lab area in Doctors Park #1.
Property Size1,425 SF
Days on Market27
Property Features for 830 Bethesda Drive
General Information
Standard status
Active
Size
1,425 SF
Zoning
Office
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,826
Amenities
PrivateRestrooms, ReceptionArea
Central Air
Electric
Common
Building Details
Building Size
1,425 SF
Year Built
1975
Stories
1
Listing Agency:
Lepi & Associates Real Estate Services
(740) 891-1068
Listed By:
Roberta L Lepi · License #284700
(740) 891-1068
Source:
Evrealestate
Added: Jul 29
Changed: Aug 23
Last Checked: Aug 22 at 1:02PM
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 Lepi & Associates Real Estate Services
Investment Insights
Based on property information with market context.
Move-in ready medical condo suite located in Doctors Park #1, condo #4, with recent refresh including paint, new blinds, and new flooring throughout. At approximately 1,425 SF, the space includes three exam rooms with sinks, a private office, a nurses’ station, a large waiting area, two restrooms, and a lab area.
The suite is located adjacent to the hospital. Parking is available through a large common area that is shared with the other two owners in the building. All utilities are currently tied together with the other unit owners, and the owner will be billed for their proportionate share of electric, water, sewer, trash, and CAM.
The property is subject to restrictions for medical use only. Estimated expenses are available for review.
The suite is located adjacent to the hospital. Parking is available through a large common area that is shared with the other two owners in the building. All utilities are currently tied together with the other unit owners, and the owner will be billed for their proportionate share of electric, water, sewer, trash, and CAM.
The property is subject to restrictions for medical use only. Estimated expenses are available for review.
Key Highlights
- Located in Doctors Park #1, condo #4, adjacent to the hospital
- Approximately 1,425 SF medical condo suite
- Three exam rooms with sinks plus lab area
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
$16,880
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
7.04%
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%
$337,600
$337.6K
Cap Rate 7%
$241,143
$241.1K
Cap Rate 9%
$187,556
$187.6K
Market Conditions
NOI Build-Up for 1,425 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
$30.8K $21.60/SF
− Vacancy
−$2.6K −$1.86/SF
EGI
$28.1K $19.74/SF
− OpEx
−$11.3K −$7.90/SF
NOI
$16.9K $11.85/SF
Area
Muskingum County, OH
Vacancy
8.60%
Lease Rate
$21.60 /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%
$337,600
Cap Rate 7%
$241,143
Cap Rate 9%
$187,556
Alternative Uses
Best Use
Healthcare Medical
$241.1K
$211.0K – $281.3K
NOI $16,880 @ 7.0% cap · market cap 7.04%
Second Best
Office B
$228.7K
$200.1K – $266.8K
NOI $16,006 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$309.3K
$270.6K – $360.8K
NOI $21,650 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,201
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43701, OH
55,361
Population
25,785
Households
2.1
Avg Household Size
42
Median Age
18%
College-Educated
90%
High-School Grad
180.5 sq mi
ZIP Area
307
Density / Sq Mi
$54,900
Median Household Income
$34,345
Median Earnings
$819
Median Rent
$164,200
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 - Move-in ready medical condo suite with three exam rooms, large waiting area, and lab area in Doctors Park #1.
Where is this medical office space located?
The property is located at 830 Bethesda Drive Zanesville, OH.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Located in Doctors Park #1, condo #4, adjacent to the hospital; Approximately 1,425 SF medical condo suite; Three exam rooms with sinks plus lab area
