Medical Office with
For Sale
Contact for pricing
23 North Main Street, Columbiana, OH 44408
Well-maintained medical suite with multiple exam rooms and an upstairs residential option, designed for flexible live-work use.
Property Size1,980 SF
Price / SF$353.54
Days on Market53
Property Features for 23 North Main Street
General Information
Standard status
Active
Size
1,980 SF
Class
B
Total Parking Spaces
16
Property subtype
Office, Mixed Use
Zoning
Commercial
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Multifamily Units
1
Office Units
1
Building Details
Year Built
1888
Year Renovated
2025
Buildings
1
Stories
2
Listing Agency:
Burgan Real Estate Ltd
(724) 513-1270
Listed By:
Brett Green · License #PA RS330435
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 8 at 10:01AM
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 Burgan Real Estate Ltd
Investment Insights
Based on property information with market context.
This property is currently operating as Advanced Podiatry and includes a main-level commercial office designed for medical and professional use. The layout features a spacious waiting area, an intake/reception office, three medical exam rooms, and two restrooms, including a handicapped-accessible patient restroom. A kitchenette/break room with a sink and refrigerator supports day-to-day operations, and an in-ceiling speaker system runs throughout. The building also provides multiple entrances, including a handicapped-accessible ramp for client access.
The upper level adds additional flexibility with minimal adjustments needed for an owner to live just upstairs or to lease as a residential unit. It includes two bedrooms, a kitchen/dining area, and a half bath that could potentially be converted back to a full bath. A separate stairway provides independent access to the basement and exterior, supporting options for owner occupancy, rental income, or additional office expansion.
Located in historic downtown Columbiana on Main Street, the property is steps from the downtown roundabout and minutes from State Route 11, offering convenient access toward Youngstown, Salem, Boardman, and East Liverpool. It is also near the Firestone Farms shopping, dining, and entertainment district, as well as The Links at Firestone Farms golf course and other local restaurants, retail, and professional offices, supporting a range of medical, service, and professional tenants or an owner-occupant seeking income-producing versatility.
The upper level adds additional flexibility with minimal adjustments needed for an owner to live just upstairs or to lease as a residential unit. It includes two bedrooms, a kitchen/dining area, and a half bath that could potentially be converted back to a full bath. A separate stairway provides independent access to the basement and exterior, supporting options for owner occupancy, rental income, or additional office expansion.
Located in historic downtown Columbiana on Main Street, the property is steps from the downtown roundabout and minutes from State Route 11, offering convenient access toward Youngstown, Salem, Boardman, and East Liverpool. It is also near the Firestone Farms shopping, dining, and entertainment district, as well as The Links at Firestone Farms golf course and other local restaurants, retail, and professional offices, supporting a range of medical, service, and professional tenants or an owner-occupant seeking income-producing versatility.
Key Highlights
- 1888 mixed‑use building in downtown Columbiana, currently operating as Advanced Podiatry.
- Main‑level commercial space includes a waiting area, intake/reception office, and 3 medical exam rooms.
- Main level has 2 restrooms including a handicapped‑accessible patient restroom, plus a kitchenette/break room with sink and refrigerator.
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
$20,159
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
2.88%
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%
$403,180
$403.2K
Cap Rate 7%
$287,986
$288.0K
Cap Rate 9%
$223,989
$224.0K
Market Conditions
NOI Build-Up for 1,980 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
$37.5K $18.96/SF
− Vacancy
−$3.9K −$1.99/SF
EGI
$33.6K $16.97/SF
− OpEx
−$13.4K −$6.79/SF
NOI
$20.2K $10.18/SF
Area
Columbiana County, OH
Vacancy
10.50%
Lease Rate
$18.96 /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%
$403,180
Cap Rate 7%
$287,986
Cap Rate 9%
$223,989
Alternative Uses
Best Use
Healthcare Medical
$288.0K
$252.0K – $336.0K
NOI $20,159 @ 7.0% cap · market cap 2.88%
Second Best
Mixed Use
$286.4K
$250.6K – $334.1K
NOI $20,048 @ 7.0% cap · market cap 2.86%
Theoretical Best
Warehouse
$1.67M
$1.46M – $1.95M
NOI $117,076 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44408, OH
10,526
Population
5,079
Households
2.1
Avg Household Size
48
Median Age
33%
College-Educated
95%
High-School Grad
35.6 sq mi
ZIP Area
296
Density / Sq Mi
$71,205
Median Household Income
$41,181
Median Earnings
$681
Median Rent
$197,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical suite with multiple exam rooms and an upstairs residential option, designed for flexible live-work use.
Where is this medical office space located?
The property is located at 23 North Main Street Columbiana, OH.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 1888 mixed‑use building in downtown Columbiana, currently operating as Advanced Podiatry.; Main‑level commercial space includes a waiting area, intake/reception office, and 3 medical exam rooms.; Main level has 2 restrooms including a handicapped‑accessible patient restroom, plus a kitchenette/break room with sink and refrigerator.
