Building Details

Building Size 2,220 SF

Year Built 1996

Stories 1

Listing Agency: Coldwell Banker Flag City Show Phone

Listed By: Brian Whitta · License #BRKP.2017005805 Show Phone

Source: Koehlerrealty

Added: Oct 21 Changed: Oct 28 Last Checked: Oct 28 at 2:39PM

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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 Coldwell Banker Flag City

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Investment Insights

Based on property information with market context.

This 2,220-square-foot medical condominium includes treatment rooms, retail space, a lab and X-ray area, an office, and a waiting room. The space was most recently used for podiatric medicine and is wired for data. Shared storage is available in the adjoining basement, and the property was built in 1996.

The condo overlooks Lake Cascades and has on-site parking. I-75, nearby medical offices and a hospital, and downtown are accessible from the property.

Key Highlights

• 2,220‑square‑foot medical condominium
• Treatment rooms, retail area, lab/X‑ray space, office, and waiting room
• Shared storage in the adjoining basement

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,297

Cap Rate

4.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$525,940 $525.9K

Cap Rate 7%

$375,671 $375.7K

Cap Rate 9%

$292,189 $292.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,220 SF

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 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 (±1% cap)

NOI $26,297 @ 7.0% cap · market cap 4.70%

Second Best

Office B

$303.7K

$265.7K – $354.3K (±1% cap)

NOI $21,259 @ 7.0% cap · market cap 3.80%

Theoretical Best

Specialty Retail

$619.2K

$541.8K – $722.4K (±1% cap)

NOI $43,346 @ 7.0% cap · market cap 7.75%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Craig Parker Physician Dr. Kenneth Verdell Dental Office Kathryn Karhoff Pediatrician Dr. Joseph B. ... Dental Office Barbara Kampf Physician

Suggested Use

Top Pick Restaurant Law Firm Building Supply Big Box & Wholesale Store Spa & Massage Center Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Treatment, lab, retail, office, and waiting areas provide a mix of clinical and support space.

Where is this medical office space located?

The property is located at 1725 Western Avenue 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: 2,220‑square‑foot medical condominium; Treatment rooms, retail area, lab/X‑ray space, office, and waiting room; Shared storage in the adjoining basement