Eight-Unit Medical Office
3600 Olentangy River Rd, Columbus, OH 43214
For Sale
$1,585,000
Condominium office suites within an established multi-tenant medical and professional office property.
Property Size7,182 SF
Price / SF$220.69
Days on Market53
Property Features for 3600 Olentangy River Rd
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Additional Details
Office Units
Amenities
Directly across from OhioHealth Riverside Methodist Hospital, one of Central Ohio's most significant healthcare destinations.
A dense concentration of hospitals, physicians and specialty practices supports continued demand for medical office space.
Efficient north-south access throughout Columbus with connections to the broader regional interstate network.
Just north of OSU and the Wexner Medical Center, one of the Midwest's largest academic healthcare ecosystems.
Along the Olentangy River Road corridor between Downtown Columbus, OSU and Columbus' northern employment centers.
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Marcus & Millichap - Indianapolis
Listed By:
Forest Bender
(317) 218-5346
Source:
Marcusmillichap
Added: Sep 18
Changed: Oct 26
Last Checked: Nov 8 at 2:10AM
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 Marcus & Millichap - Indianapolis
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Investment Insights
Based on property information with market context.
This offering includes eight condominium office suites within a multi-tenant property serving medical and professional occupants. The asset is 95.80% occupied and includes a diversified tenant base across those two office-use categories.
The property is positioned directly across from OhioHealth Riverside Methodist Hospital in an established medical and professional corridor. It is approximately 5.4 miles northwest of Downtown Columbus, with immediate access to State Route 315. The condominium format provides multiple office suites within one larger professional-office setting.
The property is positioned directly across from OhioHealth Riverside Methodist Hospital in an established medical and professional corridor. It is approximately 5.4 miles northwest of Downtown Columbus, with immediate access to State Route 315. The condominium format provides multiple office suites within one larger professional-office setting.
Key Highlights
- Eight condominium office suites included
- 95.80% occupancy
- Multi‑tenant medical and professional office property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,976
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,659,520
$1.7M
Cap Rate 7%
$1,185,371
$1.2M
Cap Rate 9%
$921,956
$922.0K
Market Conditions
NOI Build-Up for 7,182 SF
Gross rent
$142.2K $19.80/SF
− Vacancy
−$31.6K −$4.40/SF
EGI
$110.6K $15.40/SF
− OpEx
−$27.7K −$3.85/SF
NOI
$83.0K $11.55/SF
Area
Columbus, OH
Vacancy
22.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,659,520
Cap Rate 7%
$1,185,371
Cap Rate 9%
$921,956
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.38M
NOI $82,976 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,774 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
8
Office units
95.8%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,860
Businesses Nearby
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Business Placement
Demographics for 43214, OH
26,805
Population
14,343
Households
1.9
Avg Household Size
41
Median Age
65%
College-Educated
98%
High-School Grad
6.8 sq mi
ZIP Area
3,942
Density / Sq Mi
$92,838
Median Household Income
$60,164
Median Earnings
$1,189
Median Rent
$371,200
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Columbus, OH
Properties on Market for Office Units in Columbus
Vacancy Rate% for Office in Columbus, OH
Frequently Asked Questions
What type of property is this?
Office unit - Condominium office suites within an established multi-tenant medical and professional office property.
Where is this office unit located?
The property is located at 3600 Olentangy River Rd Columbus, OH.
What is the asking price?
The asking price for this property is $1,585,000.
What are key features of this property?
This property features: Eight condominium office suites included; 95.80% occupancy; Multi‑tenant medical and professional office property
