Medical Office Building Near Healthcare
For Sale
$525,000
2906 Washington Boulevard, Belpre, OH 45714
Former medical complex with professional-service use potential and access to regional highways.
Property Size5,476 SF
Days on Market231
Property Features for 2906 Washington Boulevard
General Information
Standard status
Active
Size
5,476 SF
Total Parking Spaces
15
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,911
Building Details
Building Size
5,476 SF
Year Built
1969
Buildings
1
Listing Agency:
Advantage Real Estate
(740) 516-1774
Listed By:
Traci D Strahler Chichester · License #2001012898
(740) 516-1774
Source:
Carolgoffrealestate
Added: Jan 12
Changed: Aug 30
Last Checked: Aug 30 at 10:16PM
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 Advantage Real Estate
Investment Insights
Based on property information with market context.
This medical office property, built in 1969, was most recently used as a medical complex. The building can support continued healthcare operations or professional services, with potential applications including medical or dental practice, physical therapy, counseling, outpatient care, wellness, diagnostic services, and administrative office use, subject to zoning approval.
The property is positioned near Marietta Memorial Hospital and the Belpre Medical Campus. Access from Washington Boulevard connects to OH-7, US-50, and I-77, linking the site with communities across the Mid-Ohio Valley. The location is approximately 20 minutes from Marietta, Ohio, 10 minutes from Parkersburg, West Virginia, and 30 minutes from Athens, Ohio. On-site parking accommodates approximately 15 vehicles.
The property is positioned near Marietta Memorial Hospital and the Belpre Medical Campus. Access from Washington Boulevard connects to OH-7, US-50, and I-77, linking the site with communities across the Mid-Ohio Valley. The location is approximately 20 minutes from Marietta, Ohio, 10 minutes from Parkersburg, West Virginia, and 30 minutes from Athens, Ohio. On-site parking accommodates approximately 15 vehicles.
Key Highlights
- Near Marietta Memorial Hospital and the Belpre Medical Campus
- Most recent use was a medical complex
- Approximately 15 on‑site parking spaces
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
$32,424
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
6.18%
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%
$648,480
$648.5K
Cap Rate 7%
$463,200
$463.2K
Cap Rate 9%
$360,267
$360.3K
Market Conditions
NOI Build-Up for 5,476 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
$60.5K $11.04/SF
− Vacancy
−$6.4K −$1.17/SF
EGI
$54.0K $9.87/SF
− OpEx
−$21.6K −$3.95/SF
NOI
$32.4K $5.92/SF
Area
Washington County, OH
Vacancy
10.61%
Lease Rate
$11.04 /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%
$648,480
Cap Rate 7%
$463,200
Cap Rate 9%
$360,267
Alternative Uses
Best Use
Office B
$749.1K
$655.5K – $874.0K
NOI $52,438 @ 7.0% cap · market cap 9.99%
Second Best
Healthcare Medical
$463.2K
$405.3K – $540.4K
NOI $32,424 @ 7.0% cap · market cap 6.18%
Theoretical Best
Mixed Use
$1.27M
$1.11M – $1.48M
NOI $89,099 @ 7.0% cap · market cap 16.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 45714, OH
10,149
Population
4,616
Households
2.2
Avg Household Size
46
Median Age
19%
College-Educated
93%
High-School Grad
35.8 sq mi
ZIP Area
283
Density / Sq Mi
$57,045
Median Household Income
$40,000
Median Earnings
$819
Median Rent
$158,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Former medical complex with professional-service use potential and access to regional highways.
Where is this medical office space located?
The property is located at 2906 Washington Boulevard Belpre, OH.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Near Marietta Memorial Hospital and the Belpre Medical Campus; Most recent use was a medical complex; Approximately 15 on‑site parking spaces
