Class A Medical Office
For Sale
Contact for pricing
4595-4611 Trueman Blvd, Hilliard, OH 43026
Class A medical building built in 2013, offering four NNN units in a C-Commercial zone.
Property Size20,838 SF
Price / SF$335.92
Days on Market42
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
Year Built
2013
Tenancy
Multi
Listing Agency:
Jackson Real Estate & Development
(614) 764-7991
Listed By:
Randall Jackson · License #2010001909
Source:
Moodyscre
Added: Jun 29
Changed: Aug 8
Last Checked: Aug 8 at 4:34PM
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 Jackson Real Estate & Development
Investment Insights
Based on property information with market context.
This Class A medical office building was constructed in 2013 and contains four units within a single property. The asset totals 20,838 square feet and is operated under NNN lease terms, with 2% annual rent increases referenced in the offering details.
The property is zoned C-Commercial and is located at 4595-4611 Trueman Blvd in Hilliard, Ohio, within the Columbus MSA.
The provided materials also note a 50% tax abatement for 10 years and characterize the tenant situation as strong. All lease increases and the NNN structure are identified as part of the investment highlights in the listing information.
The property is zoned C-Commercial and is located at 4595-4611 Trueman Blvd in Hilliard, Ohio, within the Columbus MSA.
The provided materials also note a 50% tax abatement for 10 years and characterize the tenant situation as strong. All lease increases and the NNN structure are identified as part of the investment highlights in the listing information.
Key Highlights
- 20,838 SF Class A medical building built in 2013 at 4595‑4611 Trueman Blvd, Hilliard, OH
- 4‑unit property with all leases designated as NNN
- 2% annual rent increases on the NNN leases
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
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
Under-served
Demand for This Use
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 Office Space - Class A medical building built in 2013, offering four NNN units in a C-Commercial zone.
Where is this medical office space 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 at 4595‑4611 Trueman Blvd, Hilliard, OH; 4‑unit property with all leases designated as NNN; 2% annual rent increases on the NNN leases
