Medical Office Building with New
For Sale
Contact for pricing
423 Adair Ave, Zanesville, OH 43701
Full office buildout for medical/office use with new HVAC installed in 2024; zoned C-4.
Property Size3,941 SF
Lot Size0.82 Acres
Price / SF$296.37
Days on Market336
Property Features for 423 Adair Ave
General Information
Standard status
Active
Size
3,941 SF
Lot size
0.82 Acres
Property subtype
OFFICE
Zoning
C-4
Building Details
Year Renovated
2024
Listing Agency:
Coldwell Banker Commercial - Aspire Realty Services | Columbus
(614) 239-0808
Listed By:
Kim Benincasa · License #SAL.2002002311
(740) 819-4619
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Oct 26
Last Checked: Oct 24 at 5:54PM
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 Coldwell Banker Commercial - Aspire Realty Services | Columbus
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical/office building offers a complete office buildout and is listed for sale as a corporate-leased asset. The improvements include a full office buildout completed in 2018, with a new HVAC system installed in 2024. The property is approximately 3,941 SF and sits on 0.82 acres.
The building is located at 423 Adair Ave in Zanesville, Ohio, and is zoned C-4, which allows a wide range of commercial uses. Public remarks also note excellent visibility and accessibility, supporting convenient customer and employee access. The current setup is described as a corporate lease with Affordable Care (450+ locations nationwide).
The building is located at 423 Adair Ave in Zanesville, Ohio, and is zoned C-4, which allows a wide range of commercial uses. Public remarks also note excellent visibility and accessibility, supporting convenient customer and employee access. The current setup is described as a corporate lease with Affordable Care (450+ locations nationwide).
Key Highlights
- 3,941 SF medical/office building for sale with full office buildout
- Nearly $600,000 in improvements completed in 2018 with full office buildout
- New HVAC system and roof installed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,683
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$933,660
$933.7K
Cap Rate 7%
$666,900
$666.9K
Cap Rate 9%
$518,700
$518.7K
Market Conditions
NOI Build-Up for 3,941 SF
Gross rent
$85.1K $21.60/SF
− Vacancy
−$7.3K −$1.86/SF
EGI
$77.8K $19.74/SF
− OpEx
−$31.1K −$7.90/SF
NOI
$46.7K $11.85/SF
Area
Muskingum County, OH
Vacancy
8.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$933,660
Cap Rate 7%
$666,900
Cap Rate 9%
$518,700
Alternative Uses
Best Use
Healthcare Medical
$666.9K
$583.5K – $778.1K
NOI $46,683 @ 7.0% cap · market cap 4.00%
Second Best
Office B
$632.4K
$553.3K – $737.8K
NOI $44,265 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$855.4K
$748.4K – $997.9K
NOI $59,875 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43701, OH
55,361
Population
25,785
Households
2.1
Avg Household Size
42
Median Age
18%
College-Educated
90%
High-School Grad
180.5 sq mi
ZIP Area
307
Density / Sq Mi
$54,900
Median Household Income
$34,345
Median Earnings
$819
Median Rent
$164,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Full office buildout for medical/office use with new HVAC installed in 2024; zoned C-4.
Where is this medical office space located?
The property is located at 423 Adair Ave Zanesville, OH.
What is the asking price?
The asking price for this property is $1,168,000.
What are key features of this property?
This property features: 3,941 SF medical/office building for sale with full office buildout; Nearly $600,000 in improvements completed in 2018 with full office buildout; New HVAC system and roof installed in 2024
