Move-In Ready Medical Office
For Sale
$549,000
555 W Schrock, Westerville, OH 43081
Professional medical office condominium with 8 exam rooms, lab, reception area, and monument signage on Schrock Road.
Property Size3,240 SF
Days on Market106
Property Features for 555 W Schrock
General Information
Standard status
Active
Size
3,240 SF
Class
B
Property subtype
Office
Site & Location
Traffic Count
20,000 vehicles/day
Highway Access
Yes
Building Details
Building Size
3,240 SF
Year Built
1989
Listing Agency:
SVN Wilson Commercial
Listed By:
Doug Wilson · License #OH #0000350178
(614) 206-3881
Source:
Svn
Added: Jul 10
Changed: Oct 3
Last Checked: Oct 23 at 5:33AM
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 SVN Wilson Commercial
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Investment Insights
Based on property information with market context.
This professional medical office condominium is presented as move-in ready and includes a detailed clinical and support layout. The suite features eight exam rooms, three back offices, a lab, a reception hall/room, a kitchen/break room, and three restrooms (one private and two public). The configuration is designed to support day-to-day patient and staff operations within the existing improvements.
The property includes monument signage on Schrock Road with 20,000 VPD daily traffic counts. Located in Westerville just north of 270, the office address carries Columbus taxes. Quick access to I-270 supports convenient regional access for staff and patients.
For buyers seeking a medical-ready office condominium, the building’s interior layout and signage exposure are already in place, with the premises described as move-in ready.
The property includes monument signage on Schrock Road with 20,000 VPD daily traffic counts. Located in Westerville just north of 270, the office address carries Columbus taxes. Quick access to I-270 supports convenient regional access for staff and patients.
For buyers seeking a medical-ready office condominium, the building’s interior layout and signage exposure are already in place, with the premises described as move-in ready.
Key Highlights
- Professional medical office condominium built in 1989 with 8 exam rooms and a dedicated lab
- Includes reception hall/room plus a kitchen/break room for patient and staff use
- 3 back offices and 3 restrooms (1 private and 2 public)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,891
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$797,820
$797.8K
Cap Rate 7%
$569,871
$569.9K
Cap Rate 9%
$443,233
$443.2K
Market Conditions
NOI Build-Up for 3,240 SF
Gross rent
$70.0K $21.60/SF
− Vacancy
−$16.8K −$5.18/SF
EGI
$53.2K $16.42/SF
− OpEx
−$13.3K −$4.10/SF
NOI
$39.9K $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 Rate 5%
$797,820
Cap Rate 7%
$569,871
Cap Rate 9%
$443,233
Alternative Uses
Best Use
Office B
$569.9K
$498.6K – $664.9K
NOI $39,891 @ 7.0% cap · market cap 7.27%
Second Best
Healthcare Medical
$458.1K
$400.8K – $534.5K
NOI $32,067 @ 7.0% cap · market cap 5.84%
Theoretical Best
Specialty Retail
$660.5K
$578.0K – $770.6K
NOI $46,238 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
20,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,350
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 43081, OH
64,338
Population
28,457
Households
2.3
Avg Household Size
37
Median Age
54%
College-Educated
98%
High-School Grad
25.1 sq mi
ZIP Area
2,563
Density / Sq Mi
$90,336
Median Household Income
$55,015
Median Earnings
$1,434
Median Rent
$297,300
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Oak Creek Veterinary Hospital — 2303 Schrock Rd, Columbus, OH 43229
- Cat Doctor — 6740 Cleveland Ave, Columbus, OH 43231
Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional medical office condominium with 8 exam rooms, lab, reception area, and monument signage on Schrock Road.
Where is this medical office space located?
The property is located at 555 W Schrock Westerville, OH.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Professional medical office condominium built in 1989 with 8 exam rooms and a dedicated lab; Includes reception hall/room plus a kitchen/break room for patient and staff use; 3 back offices and 3 restrooms (1 private and 2 public)
