Freestanding Medical Office
For Sale
Contact for pricing
690 Morrison Rd, Gahanna, OH 43230
Freestanding medical office building with 71 parking spaces and IM zoning.
Property Size5,560 SF
Lot Size1.14 Acres
Price / SF$250
Days on Market14
Property Features for 690 Morrison Rd
General Information
Standard status
Active
Size
5,560 SF
Total Parking Spaces
71
Lot size
1.14 Acres
Property subtype
OFFICE
Zoning
IM
Additional Details
Asking Price
$1,390,000
Amenities
monument signage
Building Details
Year Built
1998
Buildings
1
Building Size
5,560 SF
Listing Agency:
CBRE | Columbus
(614) 332-4795
Listed By:
Molly Leach · License #2009001866
(614) 332-4795
Source:
Moodyscre
Added: Jul 17
Changed: Jul 30
Last Checked: Jul 30 at 9:42AM
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 CBRE | Columbus
Investment Insights
Based on property information with market context.
Freestanding medical office building with 5,560 SF available, previously used as former dental space/dance studio. The space includes 7 total operatories, including 2 larger operatories, and offers 71 parking spaces on a 1.142-acre parcel. The building was constructed in 1998.
Zoned IM (Innovation and Manufacturing District), the property offers monument signage availability. It is located at a signalized intersection at Tech Center Drive and Morrison Road, providing convenient access for patients, staff, and visitors.
The layout is well-suited for health-related uses that benefit from treatment-room configuration, with ample parking to support appointment-based operations.
Zoned IM (Innovation and Manufacturing District), the property offers monument signage availability. It is located at a signalized intersection at Tech Center Drive and Morrison Road, providing convenient access for patients, staff, and visitors.
The layout is well-suited for health-related uses that benefit from treatment-room configuration, with ample parking to support appointment-based operations.
Key Highlights
- 5,560 SF available in former dental/dance studio space
- 1.142‑acre parcel with monument signage available
- 7 total operatories including 2 larger operatories
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $133.4k | $24.00 |
| − Vacancy | −$16.0k | −$2.88 |
| EGI | $117.4k | $21.12 |
| − OpEx | −$47.0k | −$8.45 |
| NOI | $70.5k | $12.67 |
5,560 SF · lease $24.00/SF/yr · vacancy 12.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.01M
$880.7K – $1.17M
NOI $70,456 @ 7.0% cap · market cap 5.07%
Second Best
Office B
$793.2K
$694.1K – $925.4K
NOI $55,524 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.05M
$922.9K – $1.23M
NOI $73,830 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43230, OH
58,372
Population
26,170
Households
2.2
Avg Household Size
37
Median Age
50%
College-Educated
96%
High-School Grad
20.4 sq mi
ZIP Area
2,861
Density / Sq Mi
$92,271
Median Household Income
$53,832
Median Earnings
$1,407
Median Rent
$282,800
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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Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding medical office building with 71 parking spaces and IM zoning.
Where is this medical office space located?
The property is located at 690 Morrison Rd Gahanna, OH.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 5,560 SF available in former dental/dance studio space; 1.142‑acre parcel with monument signage available; 7 total operatories including 2 larger operatories
