Medical Office
For Sale
Under Contract
$249,900
500 S Main Street, Bellefontaine, OH 43311
Commercial Sale, Bellefontaine, OH
Property Size1,484 SF
Lot Size0.11 Acres
Price / SF$168.40
Days on Market50
Property Features for 500 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking
4
Interior features
Attic
Basement
Unfinished, Block
Subdivision
Bellefontaine Corp
Directions
Corner of S. Main St. and Water St. in downtown Bellefontaine.
Standard status
Active Under Contract
APN
170911618007000
Size
1,484 SF
Lot size
0.11 Acres
Additional Details
Currently Operating
Yes
Property Use
Medical Office
Medical Specialty
chiropractic
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1958
Flooring type
Linoleum, Carpet
Building materials
Brick, Vinyl Siding
Architectural style
Other
Buildings
1
Listing Agency:
Choice Properties Real Estate
Listed By:
Diane (Teri) P. Frymyer
(937) 842-2244
Added: Sep 16
Changed: Oct 24
Last Checked: Nov 4 at 1:06PM
MLS# 1048531
Copyright © 2026 Western Regional Information System & Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Currently operating as a chiropractic office, this medical office property has seven rooms and a waiting area. The building was constructed in 1958 and includes an attic, forced-air natural gas heat, central air conditioning, and public sewer service. A full, unfinished basement provides additional space and contains the mechanicals; it has high ceilings, and the hot water heater and sump pump are approximately two years old.
The parcel measures 44 by 110 feet, with four designated parking spaces and both front and rear access. Recent property updates include a new roof, newer woodwork, and some newer windows.
The parcel measures 44 by 110 feet, with four designated parking spaces and both front and rear access. Recent property updates include a new roof, newer woodwork, and some newer windows.
Key Highlights
- Seven rooms and a waiting area in a currently operating chiropractic office
- 44‑by‑110‑foot lot with four designated parking spaces
- Full unfinished basement with high ceilings; hot water heater and sump pump are approximately two years old
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,236
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,720
$364.7K
Cap Rate 7%
$260,514
$260.5K
Cap Rate 9%
$202,622
$202.6K
Market Conditions
NOI Build-Up for 1,484 SF
Gross rent
$32.0K $21.53/SF
− Vacancy
−$7.6K −$5.15/SF
EGI
$24.3K $16.38/SF
− OpEx
−$6.1K −$4.10/SF
NOI
$18.2K $12.29/SF
Area
Logan County, OH
Vacancy
23.90%
Lease Rate
$21.53 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,720
Cap Rate 7%
$260,514
Cap Rate 9%
$202,622
Alternative Uses
Best Use
Office B
$260.5K
$228.0K – $303.9K
NOI $18,236 @ 7.0% cap · market cap 7.30%
Second Best
Healthcare Medical
$210.2K
$184.0K – $245.3K
NOI $14,717 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$299.6K
$262.1K – $349.5K
NOI $20,969 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 43311, OH
20,029
Population
9,497
Households
2.1
Avg Household Size
40
Median Age
17%
College-Educated
93%
High-School Grad
103.8 sq mi
ZIP Area
193
Density / Sq Mi
$64,217
Median Household Income
$40,341
Median Earnings
$833
Median Rent
$183,000
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Irwin Animal Hospital — 624 Ludlow Rd, Bellefontaine, OH 43311
Frequently Asked Questions
What type of property is this?
Medical Office Space - The property is currently used as a chiropractic office and includes a waiting area and seven rooms.
Where is this medical office space located?
The property is located at 500 S Main Street Bellefontaine, OH.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Seven rooms and a waiting area in a currently operating chiropractic office; 44‑by‑110‑foot lot with four designated parking spaces; Full unfinished basement with high ceilings; hot water heater and sump pump are approximately two years old
