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Property profile & analytics
FOR LEASE
Medical Office Space
5040 Forest Dr, New Albany, OH 43054
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US66-0676654
For Lease
1 / 8
$18 SF/Yr
5040 Forest Dr, New Albany, OH 43054
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2010
Total area
59,940 SF
Lot
4.32 ac (188,353 SF)
APN
222-003564
UPID
US66-0676654
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
-
OrthoNeuro Medical Clinic
-
161 Dental Studio Dental Office
-
New Albany Surgery Center Medical Clinic Hospital
-
Paul H. Eichenseer, DO Physician
-
Donald J. Rohl, D.O. Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Vpu New Albany II LLC · 1 yrs held
Vpu New Albany II LLC
since 2024
Last sale
$25.0M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$618,523
Tax year 2023
Assessed value
$7,839,800
Assessed 2023
Previous assessed
$7,839,800
+0.0% YoY
Effective rate
7.89%
On assessed value
Assessed land
$582,300
Assessed improvement
$7,257,500
Land market value
$1,663,700
Improvement market value
$20,735,700
Total market value
$22,399,400
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
2010
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
3
Total area
59,940 SF
Lot
4.32 ac (188,353 SF)
APN
222-003564
UPID
US66-0676654
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
Building & site characteristics
From public records
Year built
2010
Heating
YES
Cooling
Yes
Stories
3
Buildings
1
Lot
4.32 ac
Current owner
From public records · entity-resolved
Vpu New Albany II LLC
Entity
Mailing address
309 N WATER ST STE #500, MILWAUKEE, WI 53202-5772
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2024
$25,000,000
Vpu New Albany II LLC
Forest Drive Mob LLC
Limited Warranty Deed
$418,388 · Doc Dr LLC
May 3, 2022
$27,688,000
Doc 5040 Forest Drive Mob LLC
Central Ohio Mob Partners LLC
Limited Warranty Deed
—
Nov 19, 2019
$18,400,000
Central Ohio Mob Partners LLC
Namc II Mob LLC
Warranty Deed
$16,840,000 · Minnesota Bank & Trust
Nov 23, 2009
$1,600,000
Namc II Mob LLC
Mdo Partners LLC
Limited Warranty Deed
—
Dec 16, 2005
$1,231,200
Mdo Partners LLC
The New Albany Co LLC
Limited Warranty Deed
$1,124,000 · Jpmorgan Chase Bank NA
—
—
Namc II Mob LLC
—
Deed Of Trust
related
$13,500,000 · General Elec Cap
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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