Medical Office
For Sale
$295,000
309 S Chapel Street Louisville, Louisville, OH 44641
Leased dental/medical office building with a reception area, seven exam rooms, private and business offices, and a sterilization room.
Property Size2,139 SF
Days on Market27
Property Features for 309 S Chapel Street Louisville
General Information
Standard status
Active
Size
2,139 SF
Taxes and HOA fees
Annual Taxes
$6,457
Amenities
Partial
true
Public
0.2479
false
Assessor
On Site
Basement
2139
1
Building Details
Building Size
2,139 SF
Year Built
1969
Buildings
1
Listing Agency:
Cutler Real Estate
(330) 590-5379
Listed By:
Heather Fowler · License #318741
(330) 590-5379
Source:
Akroncantonhomesonline
Added: Jul 28
Changed: Aug 23
Last Checked: Aug 22 at 8:27AM
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 Cutler Real Estate
Investment Insights
Based on property information with market context.
This dental/medical office building is offered for sale and is currently leased. The interior layout includes a waiting room/reception, seven exam rooms, a private office, a business office, and a sterilization room. The building is described as being in very nice condition.
The property is located in a central downtown area in Louisville, OH, and is positioned for day-to-day patient and staff operations.
With its exam-room configuration and dedicated sterilization space, the building is well suited to medical and dental practices seeking a ready-to-operate interior arrangement while the property remains leased.
The property is located in a central downtown area in Louisville, OH, and is positioned for day-to-day patient and staff operations.
With its exam-room configuration and dedicated sterilization space, the building is well suited to medical and dental practices seeking a ready-to-operate interior arrangement while the property remains leased.
Key Highlights
- Leased dental/medical office building in downtown central area
- Reception/waiting room setup for patient entry and service
- 7 exam rooms plus sterilization room
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
$26,070
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
8.84%
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%
$521,400
$521.4K
Cap Rate 7%
$372,429
$372.4K
Cap Rate 9%
$289,667
$289.7K
Market Conditions
NOI Build-Up for 2,139 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
$47.0K $21.96/SF
− Vacancy
−$3.5K −$1.65/SF
EGI
$43.4K $20.31/SF
− OpEx
−$17.4K −$8.13/SF
NOI
$26.1K $12.19/SF
Area
Stark County, OH
Vacancy
7.50%
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%
$521,400
Cap Rate 7%
$372,429
Cap Rate 9%
$289,667
Alternative Uses
Best Use
Healthcare Medical
$372.4K
$325.9K – $434.5K
NOI $26,070 @ 7.0% cap · market cap 8.84%
Second Best
Office B
$369.2K
$323.1K – $430.7K
NOI $25,844 @ 7.0% cap · market cap 8.76%
Theoretical Best
Retail
$558.5K
$488.7K – $651.6K
NOI $39,093 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44641, OH
20,399
Population
8,412
Households
2.4
Avg Household Size
44
Median Age
25%
College-Educated
96%
High-School Grad
54.9 sq mi
ZIP Area
372
Density / Sq Mi
$78,128
Median Household Income
$42,035
Median Earnings
$834
Median Rent
$199,300
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 - Leased dental/medical office building with a reception area, seven exam rooms, private and business offices, and a sterilization room.
Where is this medical office space located?
The property is located at 309 S Chapel Street Louisville Louisville, OH.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Leased dental/medical office building in downtown central area; Reception/waiting room setup for patient entry and service; 7 exam rooms plus sterilization room
