Clarkson Eyecare Medical
For Sale
Contact for pricing
409 N Court St, Medina, OH 44256
Established healthcare tenancy occupies a dedicated medical office property in Medina.
Property Size3,450 SF
Price / SF$263.87
Days on Market153
Property Features for 409 N Court St
General Information
Standard status
Active
Size
3,450 SF
Property subtype
Office
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$66,000
Building Details
Year Built
1970
Buildings
1
Tenancy
Single
Listing Agency:
ParaSell Inc
(949) 942-6585
Listed By:
Scott Reid · License #RC51900187
Source:
Crexi
Added: Apr 1
Changed: Aug 30
Last Checked: Aug 30 at 6:39AM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
The property is a 3,450-square-foot medical office building occupied by Clarkson Eyecare. Constructed in 1970, the facility serves as an established healthcare location with an operating history tied to the existing tenant.
A recent lease extension supports continued occupancy at the property. The building is situated at 409 N Court Street in Medina, Ohio, providing a specific physical location for the medical office operation.
A recent lease extension supports continued occupancy at the property. The building is situated at 409 N Court Street in Medina, Ohio, providing a specific physical location for the medical office operation.
Key Highlights
- 3,450‑square‑foot medical office property
- Occupied by Clarkson Eyecare
- Recent lease extension supports continued occupancy
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
$42,296
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
4.65%
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%
$845,920
$845.9K
Cap Rate 7%
$604,229
$604.2K
Cap Rate 9%
$469,956
$470.0K
Market Conditions
NOI Build-Up for 3,450 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
$74.1K $21.48/SF
− Vacancy
−$17.7K −$5.13/SF
EGI
$56.4K $16.35/SF
− OpEx
−$14.1K −$4.09/SF
NOI
$42.3K $12.26/SF
Area
Medina County, OH
Vacancy
23.90%
Lease Rate
$21.48 /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%
$845,920
Cap Rate 7%
$604,229
Cap Rate 9%
$469,956
Alternative Uses
Best Use
Office B
$604.2K
$528.7K – $704.9K
NOI $42,296 @ 7.0% cap · market cap 4.65%
Second Best
Healthcare Medical
$187.0K
$163.6K – $218.1K
NOI $13,088 @ 7.0% cap · market cap 1.44%
Theoretical Best
Specialty Retail
$962.3K
$842.0K – $1.12M
NOI $67,361 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,239
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44256, OH
64,815
Population
26,740
Households
2.4
Avg Household Size
43
Median Age
42%
College-Educated
96%
High-School Grad
130.8 sq mi
ZIP Area
496
Density / Sq Mi
$100,345
Median Household Income
$55,180
Median Earnings
$1,120
Median Rent
$292,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Established healthcare tenancy occupies a dedicated medical office property in Medina.
Where is this medical office space located?
The property is located at 409 N Court St Medina, OH.
What is the asking price?
The asking price for this property is $910,345.
What are key features of this property?
This property features: 3,450‑square‑foot medical office property; Occupied by Clarkson Eyecare; Recent lease extension supports continued occupancy
