Medical Office Suite with
New
For Sale
$550,000
4945 Olentangy River Road, Columbus, OH 43214
A reception area, open work zone, private rooms, and break room support a range of office configurations.
Property Size2,476 SF
Price / SF$222.13
Days on Market2
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Property Features for 4945 Olentangy River Road
General Information
Standard status
Active
Size
2,476 SF
Class
C
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
monument signage
Building Details
Building Size
2,476 SF
Year Built
1992
Stories
1
Listed By:
Mia Vennemeyer · License #OH #2024004750
(614) 515-7751
Source:
Ohioequities
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:15AM
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 Mia Vennemeyer
Investment Insights
Based on property information with market context.
This 2,476-square-foot medical office condominium is a single-story suite built in 1992. Its layout includes reception and waiting space, an open work area, a lab, private offices or exam rooms, and a break room. Dental equipment may be negotiated separately. The space has also been used as a dentist office and can accommodate medical, healthcare, or general office use.
At 4945 Olentangy River Road in Columbus, the property offers access to SR-315 and is near The Ohio State University, healthcare providers, restaurants, and retail. The location also connects with Downtown Columbus and surrounding northwest communities.
At 4945 Olentangy River Road in Columbus, the property offers access to SR-315 and is near The Ohio State University, healthcare providers, restaurants, and retail. The location also connects with Downtown Columbus and surrounding northwest communities.
Key Highlights
- 2,476‑square‑foot medical office condominium
- Single‑story suite built in 1992
- Reception and waiting area, open work area, lab, private offices or exam rooms, and break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,522
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,440
$590.4K
Cap Rate 7%
$421,743
$421.7K
Cap Rate 9%
$328,022
$328.0K
Market Conditions
NOI Build-Up for 2,476 SF
Gross rent
$53.5K $21.60/SF
− Vacancy
−$4.3K −$1.73/SF
EGI
$49.2K $19.87/SF
− OpEx
−$19.7K −$7.95/SF
NOI
$29.5K $11.92/SF
Area
Columbus, OH
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,440
Cap Rate 7%
$421,743
Cap Rate 9%
$328,022
Alternative Uses
Best Use
Healthcare Medical
$421.7K
$369.0K – $492.0K
NOI $29,522 @ 7.0% cap · market cap 5.37%
Second Best
Office B
$408.7K
$357.6K – $476.8K
NOI $28,606 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$516.0K
$451.5K – $602.0K
NOI $36,121 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,124
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 43214, OH
26,805
Population
14,343
Households
1.9
Avg Household Size
41
Median Age
65%
College-Educated
98%
High-School Grad
6.8 sq mi
ZIP Area
3,942
Density / Sq Mi
$92,838
Median Household Income
$60,164
Median Earnings
$1,189
Median Rent
$371,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Columbus, OH
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A reception area, open work zone, private rooms, and break room support a range of office configurations.
Where is this medical office space located?
The property is located at 4945 Olentangy River Road Columbus, OH.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,476‑square‑foot medical office condominium; Single‑story suite built in 1992; Reception and waiting area, open work area, lab, private offices or exam rooms, and break room
