Stand-Alone Medical Office
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For Sale
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2290 South Hamilton Road, Columbus, OH 43232
Updated medical office property with direct signalized access from South Hamilton Road.
Property Size4,090 SF
Lot Size0.64 Acres
Price / SF$195.35
Days on Market5
Property Features for 2290 South Hamilton Road
General Information
Standard status
Active
Size
4,090 SF
Lot size
0.64 Acres
Property subtype
OFFICE
Additional Details
Road Access
Yes
Building Details
Year Renovated
2021
Buildings
1
Building Size
4,090 SF
Listing Agency:
KW Greater Columbus Realty, LLC / KW Commercial
(614) 944-5900
Listed By:
Nathan Yolles · License #2019002346
(614) 537-2550
Source:
Moodyscre
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 13 at 2:57PM
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 KW Greater Columbus Realty, LLC / KW Commercial
Investment Insights
Based on property information with market context.
This stand-alone medical office building at 2290 South Hamilton Road in Columbus, Ohio, encompasses approximately 4,090 square feet on about 0.64 acres. The property was fully remodeled and updated in 2021 and is currently used for an urgent care practice.
The building benefits from frontage and visibility along South Hamilton Road, with signalized ingress and egress connecting directly to the main roadway. Its existing medical-office configuration and standalone format provide a defined setting for continued healthcare use.
The building benefits from frontage and visibility along South Hamilton Road, with signalized ingress and egress connecting directly to the main roadway. Its existing medical-office configuration and standalone format provide a defined setting for continued healthcare use.
Key Highlights
- ±4,090‑square‑foot stand‑alone medical office building
- Approximately ±0.64 acres
- Fully remodeled and updated in 2021
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
$48,766
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
6.10%
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%
$975,320
$975.3K
Cap Rate 7%
$696,657
$696.7K
Cap Rate 9%
$541,844
$541.8K
Market Conditions
NOI Build-Up for 4,090 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
$88.3K $21.60/SF
− Vacancy
−$7.1K −$1.73/SF
EGI
$81.3K $19.87/SF
− OpEx
−$32.5K −$7.95/SF
NOI
$48.8K $11.92/SF
Area
Columbus, OH
Vacancy
8.00%
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%
$975,320
Cap Rate 7%
$696,657
Cap Rate 9%
$541,844
Alternative Uses
Best Use
Healthcare Medical
$696.7K
$609.6K – $812.8K
NOI $48,766 @ 7.0% cap · market cap 6.10%
Second Best
Office B
$675.0K
$590.7K – $787.6K
NOI $47,253 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$852.4K
$745.8K – $994.4K
NOI $59,666 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43232, OH
44,823
Population
20,211
Households
2.2
Avg Household Size
35
Median Age
18%
College-Educated
86%
High-School Grad
12.4 sq mi
ZIP Area
3,615
Density / Sq Mi
$50,599
Median Household Income
$37,156
Median Earnings
$1,048
Median Rent
$152,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated medical office property with direct signalized access from South Hamilton Road.
Where is this medical office space located?
The property is located at 2290 South Hamilton Road Columbus, OH.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: ±4,090‑square‑foot stand‑alone medical office building; Approximately ±0.64 acres; Fully remodeled and updated in 2021
