Building Details

Year Built 2003

Tenancy Single

Listing Agency: CBRE | Columbus Show Phone

Listed By: Molly Leach · License #2009001866 Show Phone

Source: Moodyscre

Added: Aug 24 Changed: Oct 13 Last Checked: Oct 15 at 1:49AM

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Investment Insights

Based on property information with market context.

This 4,296-square-foot medical office property was built in 2003 and is occupied by an oral surgery group under a 5–10 year in-place lease with oral terms. The building offers a specialized medical-office profile for buyers seeking an operating property with an existing tenant arrangement.

Access is supported by a signalized intersection at US-23 and Hidden Ravines Dr, providing direct connectivity to the surrounding road network. The property is located at the traffic signal on US-23.

Key Highlights

• 4,296 SF medical office property
• Built in 2003
• 5–10 year in‑place lease with oral surgery group

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,892

Cap Rate

2.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,057,840 $1.1M

Cap Rate 7%

$755,600 $755.6K

Cap Rate 9%

$587,689 $587.7K

Market Conditions

NOI Build-Up for 4,296 SF

Gross rent

$92.8K $21.60/SF

− Vacancy

−$22.3K −$5.18/SF

EGI

$70.5K $16.42/SF

− OpEx

−$17.6K −$4.10/SF

NOI

$52.9K $12.31/SF

Area

Delaware 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%

$1,057,840

Cap Rate 7%

$755,600

Cap Rate 9%

$587,689

Alternative Uses

Best Use

Office B

$755.6K

$661.2K – $881.5K (±1% cap)

NOI $52,892 @ 7.0% cap · market cap 2.95%

Second Best

Healthcare Medical

$648.9K

$567.8K – $757.1K (±1% cap)

NOI $45,424 @ 7.0% cap · market cap 2.53%

Theoretical Best

Warehouse

$865.9K

$757.6K – $1.01M (±1% cap)

NOI $60,611 @ 7.0% cap · market cap 3.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Medical Office Space

Suggested Use

Top Pick Law Firm Parking Lot & Garage Electrical Service Real Estate Agency Plumbing Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

384

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 43065, OH

44,829

Population

17,468

Households

2.6

Avg Household Size

41

Median Age

68%

College-Educated

98%

High-School Grad

28.1 sq mi

ZIP Area

1,595

Density / Sq Mi

$154,797

Median Household Income

$83,357

Median Earnings

$1,811

Median Rent

$451,700

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical office property with an established oral surgery group lease and access from a signalized intersection.

Where is this medical office space located?

The property is located at 40 Hidden Ravines Dr Powell, OH.

What is the asking price?

The asking price for this property is $1,795,000.

What are key features of this property?

This property features: 4,296 SF medical office property; Built in 2003; 5–10 year in‑place lease with oral surgery group