Medical Office Space with Procedure
For Sale
Contact for pricing
24 E Hidden Ravines Dr, Powell, OH 43065
Built in 2005 with private offices, a lab, kitchenette, and three in-suite restrooms.
Property Size6,480 SF
Price / SF$324.07
Days on Market146
Property Features for 24 E Hidden Ravines Dr
General Information
Standard status
Active
Size
6,480 SF
Property subtype
OFFICE
Additional Details
Asking Price
$2,100,000
Highway Access
Yes
Amenities
Monument and Building Signage available
Building Details
Year Built
2005
Listing Agency:
CBRE | Columbus
(614) 224-1492
Listed By:
Molly Leach · License #2009001866
(614) 332-4795
Source:
Moodyscre
Added: Apr 24
Changed: Sep 6
Last Checked: Sep 15 at 5:29AM
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 CBRE | Columbus
Investment Insights
Based on property information with market context.
This medical office property offers 6,480 SF available for sale, with 4,591 SF also identified as available for lease. Built in 2005, the space includes 9 exam rooms, including 2 procedure rooms, along with multiple private offices, a nurse’s station, and a lab. A large reception area, kitchenette, and 3 in-suite restrooms support day-to-day operations. Tenant improvement allowance is offered, and monument and building signage are available.
The property is accessible from a signalized traffic light at US-23 and Hidden Ravines Dr. OhioHealth and the Nationwide Children’s Hospital Emergency Center are minutes away.
The property is accessible from a signalized traffic light at US-23 and Hidden Ravines Dr. OhioHealth and the Nationwide Children’s Hospital Emergency Center are minutes away.
Key Highlights
- 6,480 SF available for sale; 4,591 SF available for lease
- 9 exam rooms, including 2 procedure rooms
- Multiple private offices, nurse’s station, and lab
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
$76,416
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
3.64%
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%
$1,528,320
$1.5M
Cap Rate 7%
$1,091,657
$1.1M
Cap Rate 9%
$849,067
$849.1K
Market Conditions
NOI Build-Up for 6,480 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
$142.3K $21.96/SF
− Vacancy
−$14.9K −$2.31/SF
EGI
$127.4K $19.65/SF
− OpEx
−$50.9K −$7.86/SF
NOI
$76.4K $11.79/SF
Area
Butler County, OH
Vacancy
10.50%
Lease Rate
$21.96 /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%
$1,528,320
Cap Rate 7%
$1,091,657
Cap Rate 9%
$849,067
Alternative Uses
Best Use
Healthcare Medical
$1.09M
$955.2K – $1.27M
NOI $76,416 @ 7.0% cap · market cap 3.64%
Second Best
Office B
$1.05M
$922.5K – $1.23M
NOI $73,798 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,686 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43065, OH
44,829
Population
17,468
Households
2.6
Avg Household Size
41
Median Age
68%
College-Educated
98%
High-School Grad
28.1 sq mi
ZIP Area
1,595
Density / Sq Mi
$154,797
Median Household Income
$83,357
Median Earnings
$1,811
Median Rent
$451,700
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 Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built in 2005 with private offices, a lab, kitchenette, and three in-suite restrooms.
Where is this medical office space located?
The property is located at 24 E Hidden Ravines Dr Powell, OH.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 6,480 SF available for sale; 4,591 SF available for lease; 9 exam rooms, including 2 procedure rooms; Multiple private offices, nurse’s station, and lab
