Multi-Tenant Medical
New
For Sale
$995,000
3720 Ridge Mill Drive B, Hilliard, OH 43026
Four businesses occupy the property, with individual entrances serving each unit.
Property Size6,000 SF
Lot Size0.71 Acres
Price / SF$165.83
Days on Market5
Property Features for 3720 Ridge Mill Drive B
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
40
Lot size
0.71 Acres
Property subtype
Medical
Occupancy
100%
Additional Details
Cap Rate
7%
Taxes and HOA fees
Annual Taxes
$18,733
Building Details
Building Size
6,000 SF
Year Built
1994
Buildings
1
Tenancy
Multi
Listing Agency:
Best Corporate Real Estate
Listed By:
Valerie Tivin · License #2019002160
(614) 716-8953
Source:
Camtaylor
Added: Oct 16
Changed: Oct 20
Last Checked: Oct 19 at 7:46AM
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 Best Corporate Real Estate
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Investment Insights
Based on property information with market context.
This medical office property contains approximately 6,000 square feet across space occupied by four tenants: a dentist, an acupuncturist, a cleaning company, and a medical company. Each unit has a separate entrance, while two units connect to a shared common area. The building dates to 1994 and sits on approximately 0.71 acres. Office-use zoning is in place.
The site provides approximately 40 dedicated parking spaces. Property improvements include two newer HVAC units, updated awnings, and a recently resealed parking lot. Occupancy is 100%, and the stated cap rate is 7.00%.
The site provides approximately 40 dedicated parking spaces. Property improvements include two newer HVAC units, updated awnings, and a recently resealed parking lot. Occupancy is 100%, and the stated cap rate is 7.00%.
Key Highlights
- 100% occupancy across four tenants, including dental, acupuncture, cleaning, and medical businesses
- Approximately 6,000 square feet on a +-0.71‑acre lot
- 7.00% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,872
Cap Rate
7.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,477,440
$1.5M
Cap Rate 7%
$1,055,314
$1.1M
Cap Rate 9%
$820,800
$820.8K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$129.6K $21.60/SF
− Vacancy
−$31.1K −$5.18/SF
EGI
$98.5K $16.42/SF
− OpEx
−$24.6K −$4.10/SF
NOI
$73.9K $12.31/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,477,440
Cap Rate 7%
$1,055,314
Cap Rate 9%
$820,800
Alternative Uses
Best Use
Office B
$1.06M
$923.4K – $1.23M
NOI $73,872 @ 7.0% cap · market cap 7.42%
Second Best
Healthcare Medical
$848.3K
$742.3K – $989.7K
NOI $59,383 @ 7.0% cap · market cap 5.97%
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.43M
NOI $85,626 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 43026, OH
64,607
Population
25,671
Households
2.5
Avg Household Size
35
Median Age
55%
College-Educated
96%
High-School Grad
35.3 sq mi
ZIP Area
1,830
Density / Sq Mi
$110,369
Median Household Income
$59,770
Median Earnings
$1,430
Median Rent
$324,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- New Directions — 3632 Fishinger Blvd, Hilliard, OH 43026
- Tams Todd DVM — 3660 ridge mill dr, hilliard, oh 43026
- VCA Mill Run Animal Hospital — 3660 Ridge Mill Dr, Hilliard, OH 43026
Frequently Asked Questions
What type of property is this?
Medical Office Space - Four businesses occupy the property, with individual entrances serving each unit.
Where is this medical office space located?
The property is located at 3720 Ridge Mill Drive B Hilliard, OH.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 100% occupancy across four tenants, including dental, acupuncture, cleaning, and medical businesses; Approximately 6,000 square feet on a +-0.71‑acre lot; 7.00% cap rate
