Lake-View Medical Office
For Sale
$559,000
1725 Western Avenue # C Findlay, Findlay, OH 45840
Configured with treatment rooms, lab/x-ray space, offices, retail area, and a waiting room.
Property Size2,220 SF
Price / SF$251.80
Days on Market56
Property Features for 1725 Western Avenue # C Findlay
General Information
Standard status
Active
Size
2,220 SF
Total Parking Spaces
30
Zoning
Commercial
Additional Details
Highway Access
Yes
Amenities
shared storage space
ON
2220
Public Records
No
Public
30.00
2.9490
189555.78
Yes
Other
Building Details
Year Built
1996
Stories
1
Listing Agency:
(614) 660-5959
Listed By:
Yashar Bayramzade
(614) 660-5959
Source:
Movenowohio
Added: Jul 6
Changed: Aug 29
Last Checked: Aug 30 at 1:29PM
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 Yashar Bayramzade
Investment Insights
Based on property information with market context.
This 2220-square-foot medical office condo overlooks Lake Cascades and was built in 1996. The existing layout includes treatment rooms, retail space, lab/x-ray areas, offices, and a waiting room. The space was most recently used for podiatric medicine and is zoned Commercial.
The configuration can accommodate medical practices or related services identified in the property information, including DME, home health, massage, or nonprofit operations. The property includes shared storage in the adjoining basement, and the owner is responsible for 12.1 pct of actual association costs. Ample on-site parking is available, with convenient access to I-75, nearby doctors, a hospital, and downtown Findlay.
The configuration can accommodate medical practices or related services identified in the property information, including DME, home health, massage, or nonprofit operations. The property includes shared storage in the adjoining basement, and the owner is responsible for 12.1 pct of actual association costs. Ample on-site parking is available, with convenient access to I-75, nearby doctors, a hospital, and downtown Findlay.
Key Highlights
- 2220 square feet of medical office space overlooking Lake Cascades
- Treatment rooms, retail area, lab/x‑ray space, offices, and waiting room
- Most recently used for podiatric medicine
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
$26,297
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
4.70%
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%
$525,940
$525.9K
Cap Rate 7%
$375,671
$375.7K
Cap Rate 9%
$292,189
$292.2K
Market Conditions
NOI Build-Up for 2,220 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
$48.0K $21.60/SF
− Vacancy
−$4.1K −$1.86/SF
EGI
$43.8K $19.74/SF
− OpEx
−$17.5K −$7.90/SF
NOI
$26.3K $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 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%
$525,940
Cap Rate 7%
$375,671
Cap Rate 9%
$292,189
Alternative Uses
Best Use
Healthcare Medical
$375.7K
$328.7K – $438.3K
NOI $26,297 @ 7.0% cap · market cap 4.70%
Second Best
Office B
$303.7K
$265.7K – $354.3K
NOI $21,259 @ 7.0% cap · market cap 3.80%
Theoretical Best
Specialty Retail
$619.2K
$541.8K – $722.4K
NOI $43,346 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured with treatment rooms, lab/x-ray space, offices, retail area, and a waiting room.
Where is this medical office space located?
The property is located at 1725 Western Avenue # C Findlay Findlay, OH.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 2220 square feet of medical office space overlooking Lake Cascades; Treatment rooms, retail area, lab/x‑ray space, offices, and waiting room; Most recently used for podiatric medicine
