Medical Office
For Sale
Contact for pricing
6484 E Main St, Reynoldsburg, OH 43068
Fully leased healthcare property occupied by three named medical-service providers.
Property Size12,459 SF
Price / SF$205.96
Days on Market18
Property Features for 6484 E Main St
General Information
Standard status
Active
Size
12,459 SF
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$179,639
Building Details
Year Built
1989
Buildings
2
Units
3
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Columbus
(479) 785-4343
Listed By:
Zack House · License #AZ, OH CO000422000
Source:
Crexi
Added: Aug 4
Changed: Aug 15
Last Checked: Aug 21 at 4:55AM
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 Marcus & Millichap - Columbus
Investment Insights
Based on property information with market context.
Located at 6484 E Main St in Reynoldsburg, Ohio, this medical office property contains 12,459 square feet and was built in 1989. The building is fully leased to Novacare, Ivory Home Health, and Central Ohio Surgical Associates.
The property is situated in Reynoldsburg, a Columbus suburb within the Columbus metropolitan area. Its location places the medical office asset in central Ohio, with access to the surrounding communities served by the region’s healthcare providers.
The property is situated in Reynoldsburg, a Columbus suburb within the Columbus metropolitan area. Its location places the medical office asset in central Ohio, with access to the surrounding communities served by the region’s healthcare providers.
Key Highlights
- 12,459‑square‑foot medical office property
- 100 percent leased to Novacare, Ivory Home Health, and Central Ohio Surgical Associates
- Built in 1989
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
$153,395
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
5.98%
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%
$3,067,900
$3.1M
Cap Rate 7%
$2,191,357
$2.2M
Cap Rate 9%
$1,704,389
$1.7M
Market Conditions
NOI Build-Up for 12,459 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
$269.1K $21.60/SF
− Vacancy
−$64.6K −$5.18/SF
EGI
$204.5K $16.42/SF
− OpEx
−$51.1K −$4.10/SF
NOI
$153.4K $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%
$3,067,900
Cap Rate 7%
$2,191,357
Cap Rate 9%
$1,704,389
Alternative Uses
Best Use
Office B
$2.19M
$1.92M – $2.56M
NOI $153,395 @ 7.0% cap · market cap 5.98%
Second Best
Healthcare Medical
$1.76M
$1.54M – $2.06M
NOI $123,308 @ 7.0% cap · market cap 4.81%
Theoretical Best
Specialty Retail
$2.54M
$2.22M – $2.96M
NOI $177,802 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
746
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43068, OH
59,585
Population
25,294
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
19.6 sq mi
ZIP Area
3,040
Density / Sq Mi
$70,451
Median Household Income
$42,327
Median Earnings
$1,214
Median Rent
$225,500
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.
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- Rosehill Veterinary Hospital — 6724 E Main St, Reynoldsburg, OH 43068
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased healthcare property occupied by three named medical-service providers.
Where is this medical office space located?
The property is located at 6484 E Main St Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $2,566,000.
What are key features of this property?
This property features: 12,459‑square‑foot medical office property; 100 percent leased to Novacare, Ivory Home Health, and Central Ohio Surgical Associates; Built in 1989
