Versatile Zanesville Commercial
For Sale
$1,500,000
1927 Maysville Ave, Zanesville, OH 43701
10,000 SF building with medical office and retail potential.
Property Size10,000 SF
Price / SF$150
Days on Market169
Property Features for 1927 Maysville Ave
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
12
Property subtype
Office
Zoning
C-4 Highway Commercial District and C2 Community a
Building Details
Building Size
10,000 SF
Year Built
1994
Listing Agency:
Coldwell Banker Commercial Aspire Realty Services
(614) 341-9800
Listed By:
Kim Benincasa · License #SAL.2002002311
(614) 341-9800
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 8
Last Checked: Apr 9 at 9:00PM
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 Commercial Aspire Realty Services
Investment Insights
Based on property information with market context.
This 10,000 SF building features 5,000 SF of fully finished medical office space on the upper level and 5,000 SF of street-level space with two separate entrances. The lower level is currently unfinished, offering an excellent opportunity to expand the existing office or create a customized layout for medical, professional, or retail use. The property is zoned C-2 and C-4, allowing for a wide range of commercial applications, accommodating both professional and retail operations. Located at a signalized intersection, the property offers convenient access, high visibility, and strong potential for signage. The property is located in South Zanesville, along Maysville Avenue corridor (US-22/SR-93) near the intersection with Pine St. This commercial location offers exceptional visibility, accessibility, and exposure to steady local and commuter traffic. As one of the city’s primary connectors linking residential neighborhoods, schools, and retail destinations, the area supports a vibrant mix of retail, office, and service-oriented businesses. Just minutes from downtown Zanesville and I-70, it provides convenient regional access throughout Muskingum County while benefiting from established nearby anchors such as grocery, medical, dining, and professional services. The property is currently occupied by a medical tenant but will be delivered vacant at closing, providing immediate flexibility for an owner-user or investor. With its strong traffic counts, continuous customer flow, and proximity to both residential and commercial zones, the Maysville Avenue corridor represents one of Zanesville’s most active and high-growth areas for business success.
Key Highlights
- 10,000 SF office building with 5,000 SF of finished medical office space.
- Delivered vacant at closing, offering immediate flexibility.
- Located at a signalized intersection with high visibility and signage potential.
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
$118,454
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
7.90%
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%
$2,369,080
$2.4M
Cap Rate 7%
$1,692,200
$1.7M
Cap Rate 9%
$1,316,156
$1.3M
Market Conditions
NOI Build-Up for 10,000 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
$216.0K $21.60/SF
− Vacancy
−$18.6K −$1.86/SF
EGI
$197.4K $19.74/SF
− OpEx
−$79.0K −$7.90/SF
NOI
$118.5K $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%
$2,369,080
Cap Rate 7%
$1,692,200
Cap Rate 9%
$1,316,156
Alternative Uses
Best Use
Healthcare Medical
$1.69M
$1.48M – $1.97M
NOI $118,454 @ 7.0% cap · market cap 7.90%
Second Best
Office B
$1.60M
$1.40M – $1.87M
NOI $112,320 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,930 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Balanced
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 - 10,000 SF building with medical office and retail potential.
Where is this medical office space located?
The property is located at 1927 Maysville Ave Zanesville, OH.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 10,000 SF office building with **5,000 SF of finished medical office space**.; Delivered vacant at closing, offering immediate flexibility.; Located at a **signalized intersection with high visibility and signage potential**.
