Medical Office
For Sale
$495,000
239 E Court St, Washington Court House, OH 43160
Medical office property offering 3,040 square feet for professional use.
Property Size3,040 SF
Price / SF$162.83
Days on Market26
Property Features for 239 E Court St
General Information
Standard status
Active
Size
3,040 SF
Listing Agency:
Heart State Realty LLC
(614) 264-8883
Listed By:
Robert N Rea · License #2017003997
Source:
Thelorilynngroup
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 25 at 5:41AM
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 Heart State Realty LLC
Investment Insights
Based on property information with market context.
This medical office property contains 3,040 square feet of space at 239 E Court St in Washington Court House, Ohio. The asset is classified as medical office space and is offered for sale.
Its location on E Court St places the property within Washington Court House, with the address providing a defined setting for evaluating access and surrounding commercial context.
Its location on E Court St places the property within Washington Court House, with the address providing a defined setting for evaluating access and surrounding commercial context.
Key Highlights
- 3,040‑square‑foot medical office property
- Located at 239 E Court St
- Washington Court House, OH 43160
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
$37,270
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
7.53%
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%
$745,400
$745.4K
Cap Rate 7%
$532,429
$532.4K
Cap Rate 9%
$414,111
$414.1K
Market Conditions
NOI Build-Up for 3,040 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
$65.3K $21.48/SF
− Vacancy
−$15.6K −$5.13/SF
EGI
$49.7K $16.35/SF
− OpEx
−$12.4K −$4.09/SF
NOI
$37.3K $12.26/SF
Area
Fayette County, OH
Vacancy
23.90%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
25.00%
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%
$745,400
Cap Rate 7%
$532,429
Cap Rate 9%
$414,111
Alternative Uses
Best Use
Office B
$532.4K
$465.9K – $621.2K
NOI $37,270 @ 7.0% cap · market cap 7.53%
Second Best
Healthcare Medical
$517.3K
$452.6K – $603.5K
NOI $36,210 @ 7.0% cap · market cap 7.32%
Theoretical Best
Specialty Retail
$847.9K
$742.0K – $989.3K
NOI $59,356 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
645
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43160, OH
22,117
Population
10,012
Households
2.2
Avg Household Size
41
Median Age
14%
College-Educated
86%
High-School Grad
213.2 sq mi
ZIP Area
104
Density / Sq Mi
$57,475
Median Household Income
$38,296
Median Earnings
$802
Median Rent
$162,200
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 - Medical office property offering 3,040 square feet for professional use.
Where is this medical office space located?
The property is located at 239 E Court St Washington Court House, OH.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 3,040‑square‑foot medical office property; Located at 239 E Court St; Washington Court House, OH 43160
