Medical/Office Building Investment
For Sale
$2,250,000
55 Dillmont Dr, Columbus, OH 43235
9,662 SF medical/office building for sale in Columbus, OH
Property Size9,662 SF
Price / SF$232.87
Days on Market171
Property Features for 55 Dillmont Dr
General Information
Standard status
Active
Size
9,662 SF
Total Parking Spaces
54
Property subtype
Office
Zoning
CPD - Commercial Planned Development District (Z91
Building Details
Building Size
9,662 SF
Year Built
2007
Listing Agency:
Coldwell Banker Commercial Aspire Realty Services
(614) 341-9800
Listed By:
Bill Davis · License #SAL
(614) 341-9800
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 8
Last Checked: Apr 9 at 9:00PM
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
Investment Insights
Based on property information with market context.
This 9,662 square foot building, constructed in 2007, is zoned CPD - Commercial Planned Development District (Z91-036). The property is an investment sale, priced at a 6.75% cap rate with credit medical tenancy. The building contains three units and is suited for office or medical use. The property is strategically located and offers modern functionality and investment potential. The area is in close proximity to major medical centers and healthcare providers, offering convenience for medical and office professionals. Retail centers such as The Mall at Tuttle Crossing are easily accessible, providing dining and shopping options for employees and visitors. The area also features nearby parks, fitness centers, and popular dining establishments. The location benefits from the dynamic energy of Columbus, Ohio.
Key Highlights
- Investment opportunity with a 6.75% cap rate and credit medical tenancy.
- 9,662 SF building** suitable for office or medical use.
- Zoned CPD - Commercial Planned Development District (Z91‑036).
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
$127,001
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
5.64%
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%
$2,540,020
$2.5M
Cap Rate 7%
$1,814,300
$1.8M
Cap Rate 9%
$1,411,122
$1.4M
Market Conditions
NOI Build-Up for 9,662 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
$209.9K $21.72/SF
− Vacancy
−$40.5K −$4.19/SF
EGI
$169.3K $17.53/SF
− OpEx
−$42.3K −$4.38/SF
NOI
$127.0K $13.14/SF
Area
ZIP 43235
Vacancy
19.31%
Lease Rate
$21.72 /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%
$2,540,020
Cap Rate 7%
$1,814,300
Cap Rate 9%
$1,411,122
Alternative Uses
Best Use
Office B
$1.81M
$1.59M – $2.12M
NOI $127,001 @ 7.0% cap · market cap 5.64%
Second Best
Healthcare Medical
$1.44M
$1.26M – $1.68M
NOI $100,732 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $136,965 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
807
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43235, OH
45,561
Population
20,855
Households
2.2
Avg Household Size
36
Median Age
59%
College-Educated
96%
High-School Grad
14.2 sq mi
ZIP Area
3,209
Density / Sq Mi
$86,758
Median Household Income
$54,814
Median Earnings
$1,412
Median Rent
$346,500
Median Home Value
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 9,662 SF medical/office building for sale in Columbus, OH
Where is this medical office space located?
The property is located at 55 Dillmont Dr Columbus, OH.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Investment opportunity with a **6.75% cap rate** and credit medical tenancy.; 9,662 SF building** suitable for office or medical use.; Zoned CPD - Commercial Planned Development District (Z91‑036).
