Single-Tenant Medical Office
1675 Alex Drive, Wilmington, OH 45177
For Sale
Contact for pricing
Dialysis facility with contractual rent growth and limited landlord obligations under its lease structure.
Property Size6,020 SF
Lot Size1.36 Acres
Price / SF$210.23
Days on Market97
Property Features for 1675 Alex Drive
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Financials
Asking Price
Cap Rate
Additional Details
Office Units
Building Details
Buildings
Tenancy
Building Size
Listing Agency:
Fortis Net Lease
Listed By:
Chris Elliott · License MI #6501416065
Source:
Crexi
Added: Aug 5
Changed: Oct 30
Last Checked: Nov 8 at 9:10AM
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 Fortis Net Lease
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Investment Insights
Based on property information with market context.
This single-tenant medical office property operates as a DaVita dialysis facility at 1675 Alex Drive in Wilmington, Ohio. The building contains 6,020 square feet on a 1.36-acre parcel and is occupied under a lease extending through October 1, 2029. Contractual rent increases of 2% annually are included during the remaining initial term.
The lease provides three additional 5-year renewal options. Landlord obligations are limited to the roof and structure, while the tenant handles the other operating expenses. The property combines a dedicated outpatient healthcare use with a defined lease term, renewal structure, and ongoing contractual escalations.
The lease provides three additional 5-year renewal options. Landlord obligations are limited to the roof and structure, while the tenant handles the other operating expenses. The property combines a dedicated outpatient healthcare use with a defined lease term, renewal structure, and ongoing contractual escalations.
Key Highlights
- 6,020‑square‑foot medical office building on 1.36 acres
- Single‑tenant DaVita dialysis facility
- Lease term extends through October 1, 2029
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,446
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,448,920
$1.4M
Cap Rate 7%
$1,034,943
$1.0M
Cap Rate 9%
$804,956
$805.0K
Market Conditions
NOI Build-Up for 6,020 SF
Gross rent
$129.3K $21.48/SF
− Vacancy
−$32.7K −$5.43/SF
EGI
$96.6K $16.05/SF
− OpEx
−$24.1K −$4.01/SF
NOI
$72.4K $12.03/SF
Area
Clinton County, OH
Vacancy
25.30%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,448,920
Cap Rate 7%
$1,034,943
Cap Rate 9%
$804,956
Alternative Uses
Best Use
Office B
$1.03M
$905.6K – $1.21M
NOI $72,446 @ 7.0% cap · market cap 5.72%
Second Best
Healthcare Medical
$1.02M
$891.4K – $1.19M
NOI $71,310 @ 7.0% cap · market cap 5.63%
Theoretical Best
Retail
$1.57M
$1.37M – $1.83M
NOI $109,705 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 45177, OH
22,349
Population
9,870
Households
2.3
Avg Household Size
40
Median Age
26%
College-Educated
94%
High-School Grad
170.0 sq mi
ZIP Area
131
Density / Sq Mi
$70,483
Median Household Income
$36,980
Median Earnings
$933
Median Rent
$209,400
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Wilmington Animal Clinic — 1103 Rombach Ave, Wilmington, OH 45177
- Dr. Edwin M. Dye, DVM — 1103 Rombach Ave, Wilmington, OH 45177
Frequently Asked Questions
What type of property is this?
Medical Office Space - Dialysis facility with contractual rent growth and limited landlord obligations under its lease structure.
Where is this medical office space located?
The property is located at 1675 Alex Drive Wilmington, OH.
What is the asking price?
The asking price for this property is $1,265,585.
What are key features of this property?
This property features: 6,020‑square‑foot medical office building on 1.36 acres; Single‑tenant DaVita dialysis facility; Lease term extends through October 1, 2029
