Dual-Entry Medical Office
For Sale
$995,000
5815 Westbourne Avenue, Columbus, OH 43213
Front and rear access serve two separately configured medical office sections.
Property Size6,000 SF
Price / SF$165.83
Days on Market10
Property Features for 5815 Westbourne Avenue
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Medical
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$19,861
Building Details
Building Size
6,000 SF
Year Built
1997
Buildings
1
Listing Agency:
AAG Realty & Auction, LLC
Listed By:
Jeffrey A Sauer
(740) 503-2126
Source:
Camtaylor
Added: Oct 6
Changed: Oct 13
Last Checked: Oct 15 at 8:07AM
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 AAG Realty & Auction, LLC
Investment Insights
Based on property information with market context.
Built in 1997, this 6,000-square-foot medical office condominium has entrances at the front and rear and can accommodate two operations of about 3,000 square feet each. The east section includes reception, an office, two restrooms, four exam rooms, and support rooms. On the west side are reception, two offices, a procedure room, a conference room, two kitchens, and two restrooms; one office has a private restroom with a shower.
The property is near Mount Carmel East hospital, East Broad Street, and I-270. Nearby businesses include other medical offices and retail uses. The condominium association includes this property and one adjacent medical building.
The property is near Mount Carmel East hospital, East Broad Street, and I-270. Nearby businesses include other medical offices and retail uses. The condominium association includes this property and one adjacent medical building.
Key Highlights
- 6,000‑square‑foot medical office condominium built in 1997
- Front and rear entrances; two sections of about 3,000 SF each
- East section has four exam rooms, reception, an office, two restrooms, and support rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,539
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,430,780
$1.4M
Cap Rate 7%
$1,021,986
$1.0M
Cap Rate 9%
$794,878
$794.9K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$129.6K $21.60/SF
− Vacancy
−$10.4K −$1.73/SF
EGI
$119.2K $19.87/SF
− OpEx
−$47.7K −$7.95/SF
NOI
$71.5K $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%
$1,430,780
Cap Rate 7%
$1,021,986
Cap Rate 9%
$794,878
Alternative Uses
Best Use
Healthcare Medical
$1.02M
$894.2K – $1.19M
NOI $71,539 @ 7.0% cap · market cap 7.19%
Second Best
Office B
$990.3K
$866.5K – $1.16M
NOI $69,320 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,530 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,284
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 43213, OH
35,105
Population
17,069
Households
2.1
Avg Household Size
37
Median Age
23%
College-Educated
90%
High-School Grad
10.3 sq mi
ZIP Area
3,408
Density / Sq Mi
$53,908
Median Household Income
$37,753
Median Earnings
$1,107
Median Rent
$197,700
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 - Front and rear access serve two separately configured medical office sections.
Where is this medical office space located?
The property is located at 5815 Westbourne Avenue Columbus, OH.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 6,000‑square‑foot medical office condominium built in 1997; Front and rear entrances; two sections of about 3,000 SF each; East section has four exam rooms, reception, an office, two restrooms, and support rooms
