Renal-Anchored Medical Office
1717 Medical Boulevard, Findlay, OH 45840
For Sale
Contact for pricing
The property is fully occupied by three healthcare providers under NN leases with annual rent increases.
Property Size13,975 SF
Lot Size2.26 Acres
Price / SF$356.18
Days on Market43
Property Features for 1717 Medical Boulevard
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Additional Details
Tenant in Place
Property Use
Medical Specialty
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Northmarq - Tulsa
Listed By:
Kelly Largent
(918) 494-2690
Source:
Crexi
Added: Sep 28
Changed: Nov 8
Last Checked: Nov 8 at 3:24PM
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 Northmarq - Tulsa
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Investment Insights
Based on property information with market context.
This 13,975-square-foot medical office building occupies 2.26 acres and was built in 1998. The one-story facility has served dialysis and specialty medical uses. A metal roof installed in 2012 carries a 30-year designation. The property is leased to three healthcare tenants: Blanchard Valley Dialysis Services, an affiliate of U.S. Renal Care; Toledo Clinic, doing business as Findlay Kidney & Hypertension Center; and Horizon Infusions. Their respective shares of net rentable area are 60%, 23%, and 17%.
The building is next to Blanchard Valley Hospital in Findlay, Ohio. Each tenant has an NN lease and contributes its proportional share of taxes, insurance, and common area maintenance. Landlord obligations are limited to the roof and structure. The leases include annual rent increases, and the weighted average remaining term is 7.45 years. Blanchard Valley Dialysis recently extended its lease through 2036.
The building is next to Blanchard Valley Hospital in Findlay, Ohio. Each tenant has an NN lease and contributes its proportional share of taxes, insurance, and common area maintenance. Landlord obligations are limited to the roof and structure. The leases include annual rent increases, and the weighted average remaining term is 7.45 years. Blanchard Valley Dialysis recently extended its lease through 2036.
Key Highlights
- 13,975‑square‑foot, one‑story medical office building on 2.26 acres
- Built in 1998; metal roof installed in 2012 with a 30‑year designation
- Fully leased to three healthcare tenants: 60%, 23%, and 17% of net rentable area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$165,540
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,310,800
$3.3M
Cap Rate 7%
$2,364,857
$2.4M
Cap Rate 9%
$1,839,333
$1.8M
Market Conditions
NOI Build-Up for 13,975 SF
Gross rent
$301.9K $21.60/SF
− Vacancy
−$26.0K −$1.86/SF
EGI
$275.9K $19.74/SF
− OpEx
−$110.4K −$7.90/SF
NOI
$165.5K $11.85/SF
Area
Hancock 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 Rate 5%
$3,310,800
Cap Rate 7%
$2,364,857
Cap Rate 9%
$1,839,333
Alternative Uses
Best Use
Healthcare Medical
$2.36M
$2.07M – $2.76M
NOI $165,540 @ 7.0% cap · market cap 3.33%
Second Best
Office B
$1.91M
$1.67M – $2.23M
NOI $133,825 @ 7.0% cap · market cap 2.69%
Theoretical Best
Specialty Retail
$3.90M
$3.41M – $4.55M
NOI $272,863 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 45840, OH
54,901
Population
25,396
Households
2.2
Avg Household Size
40
Median Age
33%
College-Educated
95%
High-School Grad
166.5 sq mi
ZIP Area
330
Density / Sq Mi
$64,076
Median Household Income
$42,546
Median Earnings
$934
Median Rent
$203,800
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - The property is fully occupied by three healthcare providers under NN leases with annual rent increases.
Where is this medical office space located?
The property is located at 1717 Medical Boulevard Findlay, OH.
What is the asking price?
The asking price for this property is $4,977,625.
What are key features of this property?
This property features: 13,975‑square‑foot, one‑story medical office building on 2.26 acres; Built in 1998; metal roof installed in 2012 with a 30‑year designation; Fully leased to three healthcare tenants: 60%, 23%, and 17% of net rentable area
