Freestanding Medical
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3200 Cooper Foster Park Road, Lorain, OH 44053
Single-tenant healthcare property with an absolute net lease and freestanding clinical improvements.
Property Size6,800 SF
Lot Size2.10 Acres
Price / SF$352.94
Days on Market4
Property Features for 3200 Cooper Foster Park Road
General Information
Standard status
Active
Size
6,800 SF
Lot size
2.10 Acres
Property subtype
Retail, Office
Occupancy
100%
Additional Details
Cap Rate
7.3%
Building Details
Year Built
2009
Buildings
1
Tenancy
Single
Listing Agency:
Peranich Huffman Net Lease Group
Listed By:
Jonathan Peranich · License #617210
Source:
Crexi
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 13 at 6:17AM
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 Peranich Huffman Net Lease Group
Investment Insights
Based on property information with market context.
This freestanding dialysis facility in Lorain, Ohio contains 6,800 SF and was constructed in 2009 on 2.1 acres. The property is fully occupied by Los Arcos Dialysis, LLC, a successor to Total Renal Care, Inc., DaVita, Inc.’s principal operating subsidiary.
The absolute net lease assigns responsibility for the building structure, roof, HVAC, interior, taxes, insurance, utilities, landscaping, and a management fee to the tenant. The agreement includes a one-time termination right effective January 31, 2030, with notice required during August 2028; if that right is not exercised, the stated lease expiration is January 31, 2035.
The site is positioned along an established retail corridor serving more than 71,000 residents within a 3-mile radius. DaVita operates more than 2,650 outpatient dialysis centers across the United States and serves approximately 248,000 patients annually.
The absolute net lease assigns responsibility for the building structure, roof, HVAC, interior, taxes, insurance, utilities, landscaping, and a management fee to the tenant. The agreement includes a one-time termination right effective January 31, 2030, with notice required during August 2028; if that right is not exercised, the stated lease expiration is January 31, 2035.
The site is positioned along an established retail corridor serving more than 71,000 residents within a 3-mile radius. DaVita operates more than 2,650 outpatient dialysis centers across the United States and serves approximately 248,000 patients annually.
Key Highlights
- 6,800 SF freestanding dialysis facility constructed in 2009
- 2.1‑acre site along an established retail corridor
- 100% occupied by a single healthcare tenant
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
$81,981
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
3.42%
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%
$1,639,620
$1.6M
Cap Rate 7%
$1,171,157
$1.2M
Cap Rate 9%
$910,900
$910.9K
Market Conditions
NOI Build-Up for 6,800 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
$149.3K $21.96/SF
− Vacancy
−$12.7K −$1.87/SF
EGI
$136.6K $20.09/SF
− OpEx
−$54.7K −$8.04/SF
NOI
$82.0K $12.06/SF
Area
Lorain County, OH
Vacancy
8.50%
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%
$1,639,620
Cap Rate 7%
$1,171,157
Cap Rate 9%
$910,900
Alternative Uses
Best Use
Healthcare Medical
$1.17M
$1.02M – $1.37M
NOI $81,981 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,952 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 44053, OH
20,735
Population
9,529
Households
2.2
Avg Household Size
44
Median Age
21%
College-Educated
91%
High-School Grad
10.8 sq mi
ZIP Area
1,920
Density / Sq Mi
$65,332
Median Household Income
$43,654
Median Earnings
$827
Median Rent
$189,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Medical center - Single-tenant healthcare property with an absolute net lease and freestanding clinical improvements.
Where is this medical center located?
The property is located at 3200 Cooper Foster Park Road Lorain, OH.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 6,800 SF freestanding dialysis facility constructed in 2009; 2.1‑acre site along an established retail corridor; 100% occupied by a single healthcare tenant
