Medical Office Building For
For Sale
$5,950,000
8000 Ravines Edge Ct, Columbus, OH 43235
Well-maintained medical office building with high occupancy and long-term tenants.
Property Size30,003 SF
Price / SF$198.31
Days on Market159
Property Features for 8000 Ravines Edge Ct
General Information
Standard status
Active
Size
30,003 SF
Class
B
Property subtype
Office
Building Details
Building Size
30,003 SF
Year Built
1986
Listing Agency:
Alterra Real Estate Advisors
(614) 327-4366
Listed By:
Bradford Kitchen, SIOR · License #3227132
(614) 327-4366
Source:
Alterrare
Added: Mar 26
Changed: Aug 26
Last Checked: Aug 30 at 1:46PM
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 Alterra Real Estate Advisors
Investment Insights
Based on property information with market context.
This commercial property features a mix of medical, office, and professional tenants, with high occupancy. A new 10-year medical lease is in place, and a Fortune 500 tenant has been in the property since 2012. The building includes an open, dramatic two-story glass lobby. Recent upgrades have been made to the property. The building is surrounded by a wooded setting with a walk/bike trail and is located less than 1 mile from the I-270/SR 23 interchange. The building has been repainted, and the main lobby has new restrooms and carpet on the first floor. The property size is 30003 square feet.
Key Highlights
- High occupancy with a new 10‑year medical lease
- Fortune 500 tenant in property since 2012
- Less than 1 mile to I‑270/SR 23 interchange
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
$394,371
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
6.63%
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%
$7,887,420
$7.9M
Cap Rate 7%
$5,633,871
$5.6M
Cap Rate 9%
$4,381,900
$4.4M
Market Conditions
NOI Build-Up for 30,003 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
$651.7K $21.72/SF
− Vacancy
−$125.8K −$4.19/SF
EGI
$525.8K $17.53/SF
− OpEx
−$131.5K −$4.38/SF
NOI
$394.4K $13.14/SF
Area
ZIP 43235
Vacancy
19.31%
Lease Rate
$21.72 /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%
$7,887,420
Cap Rate 7%
$5,633,871
Cap Rate 9%
$4,381,900
Alternative Uses
Best Use
Office B
$5.63M
$4.93M – $6.57M
NOI $394,371 @ 7.0% cap · market cap 6.63%
Second Best
Healthcare Medical
$4.47M
$3.91M – $5.21M
NOI $312,799 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$6.08M
$5.32M – $7.09M
NOI $425,311 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,025
Businesses Nearby
Explore this area
Business Placement
Demographics for 43235, OH
45,561
Population
20,855
Households
2.2
Avg Household Size
36
Median Age
59%
College-Educated
96%
High-School Grad
14.2 sq mi
ZIP Area
3,209
Density / Sq Mi
$86,758
Median Household Income
$54,814
Median Earnings
$1,412
Median Rent
$346,500
Median Home Value
Market
Vacancy Rate% for Office in Columbus, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained medical office building with high occupancy and long-term tenants.
Where is this office building located?
The property is located at 8000 Ravines Edge Ct Columbus, OH.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: High occupancy with a new 10‑year medical lease; Fortune 500 tenant in property since 2012; Less than 1 mile to I‑270/SR 23 interchange
