2405 North Columbus St Lancaster, OH 43130
Medical Office Space
Google Maps
Entity Owned
1-yr Hold
~
Est. High Equity
For Lease
1 / 6
$14 SF/Yr
2405 North Columbus St, Lancaster, OH 43130
View Listing →
Estimated value (blended)
$13.27M
Range $11.94M – $14.60M (±10%)
Property ID
US66-1307976
Property summary
AI-generated overview
This multi-tenant outpatient medical building contains leasable spaces ranging from approximately 1,217 to 12,969 square feet, with the ability to accommodate tenant-specific customization and build-out. The building includes recent renovations in its common areas and features an on-site surgical center. Parking is provided at approximately 5 spaces per 1,000 square feet, supporting outpatient and medical office uses.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1997
Total area
76,509 SF
Lot
7.21 ac (314,068 SF)
APN
053-22388.10
UPID
US66-1307976
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician Medical Clinic
-
Physician
-
Medical Clinic
-
Medical Clinic
-
Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.95M
Comparable Approach
Comparable
$9.28M
Blend (final)
Blend
$13.27M
Owner & transaction history
since 2024
Last sale
$12.9M
6 recorded transactions
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$13.27M
Value range
$11.94M – $14.60M
±10% around blend
Estimated value / SF
$173 / SF
Confidence
Property data
88
Comparable evidence
60
Income certainty
100
$11.94M
blend $13.27M
$14.60M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
76,509 SF
Lot area
7.21 ac
Year built
1997
Stories
1
APN
053-22388.10
Assessed value
$4,030,080
Annual tax
$365,125
3
Income approach: direct capitalization
Partial preview
Income approach indication
$13.95M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$15.11M
@ 6.5% CAP return
$13.95M
@ 7% CAP return
$12.95M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$365,125
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$9.28M
Range $2.77M – $9.28M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$13.27M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
1,064,735.71%
Selected cap rate for this medical office space
Derived from the Lancaster market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$149k *
Last sale · May 2024
$12.93M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$14
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
1,064,735.21%1,064,735.71%1,064,736.21%
$134k
$12
$12
$12
$149k
$14
$14
$13
$164k
$15
$15
$15
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$365,125
Tax year 2023
Assessed value
$4,030,080
Assessed 2023
Previous assessed
$4,030,080
+0.0% YoY
Effective rate
9.06%
On assessed value
Assessed land
$266,210
Assessed improvement
$3,763,870
Land market value
$760,600
Improvement market value
$10,753,920
Total market value
$11,514,520
Applied tax rate
53.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1997
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
76,509 SF
Lot
7.21 ac (314,068 SF)
APN
053-22388.10
UPID
US66-1307976
Jurisdiction
FAIRFIELD
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1997
Heating
YES
Cooling
Yes
Stories
1
Lot
7.21 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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