Class A Medical Building with NNN
For Sale
$7,000,000
4595-4611 Trueman Blvd, Hilliard, OH 43026
Four-unit, Class A medical building built in 2013 with NNN leasing structure and 2% annual rent increases.
Property Size20,838 SF
Price / SF$335.92
Days on Market54
Property Features for 4595-4611 Trueman Blvd
General Information
Standard status
Active
Size
20,838 SF
Class
A
Property subtype
Office
Zoning
C-Commercial
Additional Details
Office Units
4
Building Details
Building Size
20,838 SF
Year Built
2013
Tenancy
Multi
Listing Agency:
(614) 975-6400
Listed By:
Randall Jackson · License #OH #2010001909
Source:
Jredcorp
Added: Jun 29
Changed: Aug 14
Last Checked: Aug 21 at 5:28AM
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 Randall Jackson
Investment Insights
Based on property information with market context.
This Class A medical building was constructed in 2013 and includes four separate units in a single 20,838-square-foot property. The offering is structured with all leases designated as NNN, and the rent schedule includes 2% annual increases. The building is positioned for professional office and medical tenant use under its C-Commercial zoning designation.
The property is located at 4595-4611 Trueman Blvd in Hilliard, Ohio, within the Columbus MSA area. The seller’s remarks also note favorable long-term tax treatment, including a 50% tax abatement for 10 years.
For investors seeking a stabilized, multi-unit medical office asset, this configuration provides a straightforward NNN structure across all units along with contractual annual rent growth. For medical and office operators, the building’s specialization as a medical facility and its Class A construction support a tenant experience aligned with healthcare-oriented real estate needs.
The property is located at 4595-4611 Trueman Blvd in Hilliard, Ohio, within the Columbus MSA area. The seller’s remarks also note favorable long-term tax treatment, including a 50% tax abatement for 10 years.
For investors seeking a stabilized, multi-unit medical office asset, this configuration provides a straightforward NNN structure across all units along with contractual annual rent growth. For medical and office operators, the building’s specialization as a medical facility and its Class A construction support a tenant experience aligned with healthcare-oriented real estate needs.
Key Highlights
- 20,838 SF Class A medical building built in 2013 featuring 4 units
- All leases are NNN with 2% annual rent increases
- Zoned C‑Commercial
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
$256,557
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
3.67%
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%
$5,131,140
$5.1M
Cap Rate 7%
$3,665,100
$3.7M
Cap Rate 9%
$2,850,633
$2.9M
Market Conditions
NOI Build-Up for 20,838 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
$450.1K $21.60/SF
− Vacancy
−$108.0K −$5.18/SF
EGI
$342.1K $16.42/SF
− OpEx
−$85.5K −$4.10/SF
NOI
$256.6K $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 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%
$5,131,140
Cap Rate 7%
$3,665,100
Cap Rate 9%
$2,850,633
Alternative Uses
Best Use
Office B
$3.67M
$3.21M – $4.28M
NOI $256,557 @ 7.0% cap · market cap 3.67%
Second Best
Healthcare Medical
$2.95M
$2.58M – $3.44M
NOI $206,236 @ 7.0% cap · market cap 2.95%
Theoretical Best
Specialty Retail
$4.25M
$3.72M – $4.96M
NOI $297,379 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Four-unit, Class A medical building built in 2013 with NNN leasing structure and 2% annual rent increases.
Where is this medical center located?
The property is located at 4595-4611 Trueman Blvd Hilliard, OH.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 20,838 SF Class A medical building built in 2013 featuring 4 units; All leases are NNN with 2% annual rent increases; Zoned C‑Commercial
