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Property profile & analytics
FOR LEASE
Medical Office Space
153 West Main St New Albany, OH 43054
Entity Owned
4-yr Hold
Free & Clear
Property ID
US66-1247905
For Lease
1 / 7
$2,930,000
153 West Main St, New Albany, OH 43054
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1999
Total area
17,840 SF
Lot
0.98 ac (42,776 SF)
APN
222-002273
UPID
US66-1247905
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Main Street Dental Dental Office
-
Milks Deborah Physician
-
Fahey Dee Employment Agency
-
Meenakshi Rana, MD Physician Medical Clinic
-
Premier Allergy and Asthma Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.72M
Comparable Approach
Comparable
$3.81M
Blend (final)
Blend
$2.93M
Owner & transaction history
153 W Main LLC · 4 yrs held
153 W Main LLC
since 2022
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.9M
+9.6%
Neighborhood: shopping center
$2.9M
+9.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New Albany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Albany submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,945,000
6.5%
$2,715,000
7%
$2,520,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,685,000
Current use
AUTO REPAIR, GARAGE
$2,940,000
Change: +10% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,925,000
Change: +9% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,585,000
Change: -4% · Conversion: Moderate
OFFICE BUILDING
$2,450,000
Change: -9% · Conversion: Easy
RETAIL STORES
$2,230,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$2.93M
Range $2.64M – $3.22M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$164 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$113,212
Tax year 2023
Assessed value
$1,407,850
Assessed 2023
Previous assessed
$1,097,260
+28.3% YoY
Effective rate
8.04%
On assessed value
Assessed land
$216,340
Assessed improvement
$1,191,510
Land market value
$618,100
Improvement market value
$3,404,300
Total market value
$4,022,400
Applied tax rate
222.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1999
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
17,840 SF
Lot
0.98 ac (42,776 SF)
APN
222-002273
UPID
US66-1247905
Jurisdiction
FRANKLIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.5M
RETAIL STORES
Est. value
$2.2M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Heating
YES
Cooling
Yes
Stories
2
Buildings
1
Lot
0.98 ac
Current owner
From public records · entity-resolved
153 W Main LLC
Entity
Free & Clear · 4 yrs held
Mailing address
8000 WALTON PKWY STE #120, NEW ALBANY, OH 43054-7074
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2022
—
153 W Main LLC
Ziegler Ohio 19 LLC
Limited Warranty Deed
—
Jan 7, 2008
$3,400,000
Ziegler Ohio 19 LLC
Naprop Holdings LLC
Limited Warranty Deed
$2,227,000 · Washington Mutual Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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