Medical Office
For Sale
Contact for pricing
6482 E Main Street, Reynoldsburg, OH 43232
Flexible office or medical configuration within a medical office condominium on East Main Street.
Property Size5,857 SF
Price / SF$187.81
Days on Market14
Property Features for 6482 E Main Street
General Information
Standard status
Active
Size
5,857 SF
Property subtype
Office
Zoning
BMD (Brice and Main District)
Occupancy
76%
Net Operating Income
$7,601
Additional Details
Road Access
Yes
Building Details
Stories
1
Tenancy
Multi
Listing Agency:
JLL - Columbus | Front Street, Ohio
(614) 460-4412
Listed By:
Joey Lamb · License #2020006553
Source:
Crexi
Added: Aug 8
Changed: Aug 14
Last Checked: Aug 21 at 6:44AM
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 JLL - Columbus | Front Street, Ohio
Investment Insights
Based on property information with market context.
This 5,857-square-foot medical office suite is located within an established medical office condominium at Stonegate Business Center. The space supports either a general office layout or a medical configuration, providing flexibility for professional occupancy. The building is zoned BMD (Brice and Main District).
Positioned directly on East Main Street, the property has frontage along US-40 in Reynoldsburg. An OB/GYN practice occupies the balance of the building, placing the suite alongside an existing medical office user. The property is offered for sale.
Positioned directly on East Main Street, the property has frontage along US-40 in Reynoldsburg. An OB/GYN practice occupies the balance of the building, placing the suite alongside an existing medical office user. The property is offered for sale.
Key Highlights
- 5,857‑square‑foot medical office suite
- Flexible general office or medical configuration
- Established medical office condominium at Stonegate Business Center
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
$72,111
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
6.56%
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%
$1,442,220
$1.4M
Cap Rate 7%
$1,030,157
$1.0M
Cap Rate 9%
$801,233
$801.2K
Market Conditions
NOI Build-Up for 5,857 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
$126.5K $21.60/SF
− Vacancy
−$30.4K −$5.18/SF
EGI
$96.1K $16.42/SF
− OpEx
−$24.0K −$4.10/SF
NOI
$72.1K $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 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%
$1,442,220
Cap Rate 7%
$1,030,157
Cap Rate 9%
$801,233
Alternative Uses
Best Use
Office B
$1.03M
$901.4K – $1.20M
NOI $72,111 @ 7.0% cap · market cap 6.56%
Second Best
Healthcare Medical
$828.1K
$724.6K – $966.1K
NOI $57,967 @ 7.0% cap · market cap 5.27%
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,585 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43232, OH
44,823
Population
20,211
Households
2.2
Avg Household Size
35
Median Age
18%
College-Educated
86%
High-School Grad
12.4 sq mi
ZIP Area
3,615
Density / Sq Mi
$50,599
Median Household Income
$37,156
Median Earnings
$1,048
Median Rent
$152,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Rosehill Veterinary Hospital — 6724 E Main St, Reynoldsburg, OH 43068
- Geer Jr Joseph a DVM — 6724 E Main St, Reynoldsburg, OH 43068
- Local Veterinarian Service — 7106 e main st, reynoldsburg, oh 43068
Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible office or medical configuration within a medical office condominium on East Main Street.
Where is this medical office space located?
The property is located at 6482 E Main Street Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,857‑square‑foot medical office suite; Flexible general office or medical configuration; Established medical office condominium at Stonegate Business Center
