Updated Medical Office
New
For Sale
$775,000
85 Phillipi Rd, Columbus, OH 43228
Recent HVAC, plumbing, and electrical work supports the property's updated building systems.
Property Size5,079 SF
Lot Size0.76 Acres
Price / SF$152.59
Days on Market2
Property Features for 85 Phillipi Rd
General Information
Standard status
Active
Size
5,079 SF
Class
C
Total Parking Spaces
26
Lot size
0.76 Acres
Property subtype
Office
Zoning
General Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
5,079 SF
Year Built
1983
Listing Agency:
NAI Ohio Equities
Listed By:
Chad Boggs · License #OH #2023003870
(614) 595-2752
Source:
Ohioequities
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 14 at 7:44PM
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 NAI Ohio Equities
Investment Insights
Based on property information with market context.
This medical office property contains ±5,079 SF on 0.76 acres, with ±26 on-site parking spaces. Improvements include a new HVAC system, updated plumbing and electrical, and fresh interior and exterior paint. A freestanding pylon and building signage are also present. The property is zoned General Industrial.
At 85 Phillipi Rd in Columbus, the site is ±0.5 miles from I-270 and ±0.8 miles from Hollywood Casino. Phillipi Road and W Broad Street together carry ±40,000 VPD. The property also has access to I-270, I-70, and other major area thoroughfares. Nearby uses include retail, dining, residential, and commercial properties.
At 85 Phillipi Rd in Columbus, the site is ±0.5 miles from I-270 and ±0.8 miles from Hollywood Casino. Phillipi Road and W Broad Street together carry ±40,000 VPD. The property also has access to I-270, I-70, and other major area thoroughfares. Nearby uses include retail, dining, residential, and commercial properties.
Key Highlights
- ±5,079 SF medical office property on 0.76 acres
- ±26 on‑site parking spaces
- New HVAC system; plumbing and electrical have been updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,829
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,076,580
$1.1M
Cap Rate 7%
$768,986
$769.0K
Cap Rate 9%
$598,100
$598.1K
Market Conditions
NOI Build-Up for 5,079 SF
Gross rent
$97.5K $19.20/SF
− Vacancy
−$7.8K −$1.54/SF
EGI
$89.7K $17.66/SF
− OpEx
−$35.9K −$7.07/SF
NOI
$53.8K $10.60/SF
Area
ZIP 43228
Vacancy
8.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,076,580
Cap Rate 7%
$768,986
Cap Rate 9%
$598,100
Alternative Uses
Best Use
Healthcare Medical
$769.0K
$672.9K – $897.2K
NOI $53,829 @ 7.0% cap · market cap 6.95%
Second Best
Office B
$724.8K
$634.2K – $845.7K
NOI $50,739 @ 7.0% cap · market cap 6.55%
Theoretical Best
Warehouse
$1.08M
$946.2K – $1.26M
NOI $75,696 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43228, OH
58,465
Population
25,623
Households
2.3
Avg Household Size
32
Median Age
26%
College-Educated
86%
High-School Grad
19.9 sq mi
ZIP Area
2,938
Density / Sq Mi
$60,895
Median Household Income
$40,211
Median Earnings
$1,169
Median Rent
$204,000
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 - Recent HVAC, plumbing, and electrical work supports the property's updated building systems.
Where is this medical office space located?
The property is located at 85 Phillipi Rd Columbus, OH.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: ±5,079 SF medical office property on 0.76 acres; ±26 on‑site parking spaces; New HVAC system; plumbing and electrical have been updated
