Medical Office Building for
For Sale
$340,000
226 E Burwell Avenue Loudonville, Loudonville, OH 44842
Medical office building with non-load-bearing interior walls and commercial zoning on three parcels.
Property Size1,668 SF
Price / SF$203.84
Days on Market109
Property Features for 226 E Burwell Avenue Loudonville
General Information
Standard status
Active
Size
1,668 SF
Taxes and HOA fees
Annual Taxes
$3,039
Amenities
No
0.2
1668.0
Building Details
Building Size
1,668 SF
Year Built
1988
Stories
1
Listed By:
Sinath Johnson
(614) 660-5959
Source:
Movenowohio
Added: Jul 6
Changed: Oct 4
Last Checked: Oct 7 at 9:55AM
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 Sinath Johnson
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Investment Insights
Based on property information with market context.
This property is a 1,668 sq ft commercial building currently configured as a medical office. Interior walls are non-load-bearing, providing flexibility for an open-concept plan or a customized layout. The real estate is being sold only, and the business is not included.
The building sits on three parcels and is described as providing business parking for clients, patients, or employees. Zoning is for commercial use, including a medical clinic and office, with the Village noting that alternative uses may be considered with proper approvals; buyers are encouraged to verify intended uses with local zoning authorities.
Overall, the combination of medical office configuration, flexible interior construction, and commercial zoning supports a variety of office-oriented uses, subject to approval.
The building sits on three parcels and is described as providing business parking for clients, patients, or employees. Zoning is for commercial use, including a medical clinic and office, with the Village noting that alternative uses may be considered with proper approvals; buyers are encouraged to verify intended uses with local zoning authorities.
Overall, the combination of medical office configuration, flexible interior construction, and commercial zoning supports a variety of office-oriented uses, subject to approval.
Key Highlights
- 1,668 sq ft medical office building built in 1988 at 226 E. Burwell Ave. in Loudonville
- Non‑load‑bearing interior walls allow for an open‑concept layout or customized floor plan
- Commercial zoning for uses including a medical clinic and office (verify any alternative uses with local authorities)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,230
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,600
$384.6K
Cap Rate 7%
$274,714
$274.7K
Cap Rate 9%
$213,667
$213.7K
Market Conditions
NOI Build-Up for 1,668 SF
Gross rent
$36.6K $21.96/SF
− Vacancy
−$4.6K −$2.75/SF
EGI
$32.1K $19.22/SF
− OpEx
−$12.8K −$7.69/SF
NOI
$19.2K $11.53/SF
Area
Ashland County, OH
Vacancy
12.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,600
Cap Rate 7%
$274,714
Cap Rate 9%
$213,667
Alternative Uses
Best Use
Healthcare Medical
$274.7K
$240.4K – $320.5K
NOI $19,230 @ 7.0% cap · market cap 5.66%
Second Best
Office B
$228.2K
$199.7K – $266.2K
NOI $15,973 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$314.8K
$275.4K – $367.2K
NOI $22,034 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 44842, OH
5,643
Population
2,480
Households
2.3
Avg Household Size
43
Median Age
20%
College-Educated
92%
High-School Grad
72.8 sq mi
ZIP Area
78
Density / Sq Mi
$71,524
Median Household Income
$39,444
Median Earnings
$665
Median Rent
$186,600
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building with non-load-bearing interior walls and commercial zoning on three parcels.
Where is this medical office space located?
The property is located at 226 E Burwell Avenue Loudonville Loudonville, OH.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1,668 sq ft medical office building built in 1988 at 226 E. Burwell Ave. in Loudonville; Non‑load‑bearing interior walls allow for an open‑concept layout or customized floor plan; Commercial zoning for uses including a medical clinic and office (verify any alternative uses with local authorities)
