Freestanding Medical Office
For Sale
Contact for pricing
3386-3400 Snouffer Road, Columbus, OH 43235
Two freestanding buildings include specialized clinical improvements and a fenced outdoor playground.
Property Size21,628 SF
Price / SF$198.77
Days on Market202
Property Features for 3386-3400 Snouffer Road
General Information
Standard status
Active
Size
21,628 SF
Property subtype
OFFICE
Amenities
monument signage
fenced outdoor playground area
Building Details
Buildings
2
Listing Agency:
Alterra Real Estate Advisors
(614) 327-4366
Listed By:
Brad L Kitchen, SIOR
(614) 327-4366
Source:
Moodyscre
Added: Feb 10
Changed: Aug 29
Last Checked: Aug 30 at 5:52PM
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 Alterra Real Estate Advisors
Investment Insights
Based on property information with market context.
This medical office property comprises two freestanding buildings totaling 21,628 square feet. The existing treatment-center configuration includes specialized improvements suited to therapy, education, and clinical operations. A fenced outdoor playground is already installed, adding a functional feature for child-focused programs and related services.
The property is located at 3386-3400 Snouffer Road in Columbus, Ohio, within the Dublin area. Monument signage is positioned along the roadway. The layout and stated zoning support flexibility for professional office, medical, behavioral health, daycare, therapy, and drug and alcohol treatment uses.
The property is located at 3386-3400 Snouffer Road in Columbus, Ohio, within the Dublin area. Monument signage is positioned along the roadway. The layout and stated zoning support flexibility for professional office, medical, behavioral health, daycare, therapy, and drug and alcohol treatment uses.
Key Highlights
- 21,628 SF across two freestanding medical office buildings
- Specialized treatment‑center buildout for therapy, education, or clinical operations
- Fenced outdoor playground area already in place
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
$284,287
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
6.61%
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%
$5,685,740
$5.7M
Cap Rate 7%
$4,061,243
$4.1M
Cap Rate 9%
$3,158,744
$3.2M
Market Conditions
NOI Build-Up for 21,628 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
$469.8K $21.72/SF
− Vacancy
−$90.7K −$4.19/SF
EGI
$379.0K $17.53/SF
− OpEx
−$94.8K −$4.38/SF
NOI
$284.3K $13.14/SF
Area
ZIP 43235
Vacancy
19.31%
Lease Rate
$21.72 /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%
$5,685,740
Cap Rate 7%
$4,061,243
Cap Rate 9%
$3,158,744
Alternative Uses
Best Use
Office B
$4.06M
$3.55M – $4.74M
NOI $284,287 @ 7.0% cap · market cap 6.61%
Second Best
Healthcare Medical
$3.22M
$2.82M – $3.76M
NOI $225,485 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$4.38M
$3.83M – $5.11M
NOI $306,590 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
698
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 43235, OH
45,561
Population
20,855
Households
2.2
Avg Household Size
36
Median Age
59%
College-Educated
96%
High-School Grad
14.2 sq mi
ZIP Area
3,209
Density / Sq Mi
$86,758
Median Household Income
$54,814
Median Earnings
$1,412
Median Rent
$346,500
Median Home Value
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two freestanding buildings include specialized clinical improvements and a fenced outdoor playground.
Where is this medical office space located?
The property is located at 3386-3400 Snouffer Road Columbus, OH.
What is the asking price?
The asking price for this property is $4,299,000.
What are key features of this property?
This property features: 21,628 SF across two freestanding medical office buildings; Specialized treatment‑center buildout for therapy, education, or clinical operations; Fenced outdoor playground area already in place
