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OHIO VALLEY PRIMARY CARE 2816 W 1st St 7,000 SF Office Building Springfield, OH 45504 $2,055,300 CAD ($293.61 CAD/SF) 7% Cap Rate
Investment Highlights
- OHIO VALLEY PRIMARY CARE: The subject property is a 7,000-square-foot freestanding medical office building situated on a large 1.73-acre lot
- NEW LONG-TERM LEASE WITH ANNUAL INCREASES :The tenant signed a 10 year lease with two, five-year options to extend the term through 2044
- STRONG REGIONAL MEDICAL PRESENCE :Springfield serves as a regional healthcare destination anchored by Mercy Health Springfield Regional Medical Center
- DOUBLE NET PLUS LEASE STRUCTURE | LIMITED LANDLORD RESPONSIBILITY: Tenant assumes full responsibility for all operating expenses including CAM
- 2024 MAJOR RECENT RENOVATIONS COSTING OVER $565,000 :The tenant received a $225,000 Tenant improvement allowance in 2024
- LOCATED WITHIN SPRINGFIELD’S PRIMARY COMMERCIAL CORRIDOR: Located within proximity to many nationally recognized retailers, including Walmart, & more
Executive Summary
7,000 SF Single Tenant Medical Office | NN Lease with Limited Landlord Responsibilities
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
7,000 SF
Building Class
C
Year Built/Renovated
1994/2024
Price
$2,055,300 CAD
Price Per SF
$293.61 CAD
Cap Rate
7%
NOI
$143,871 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
7,000 SF
Building FAR
0.09
Lot Size
1.73 AC
Zoning
Commercial
Parking
50 Spaces (7.14 Spaces per 1,000 SF Leased)
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Property Taxes
| Parcel Number | 05-00600-01800-0042 | Improvements Assessment | $357,282 CAD |
| Land Assessment | $138,252 CAD | Total Assessment | $495,534 CAD |
Property Taxes
Parcel Number
05-00600-01800-0042
Land Assessment
$138,252 CAD
Improvements Assessment
$357,282 CAD
Total Assessment
$495,534 CAD
Contacts
-
Dan Yozwiak -
Darpan Patel -
Paige Bucheit -
Sam Elyassaki -
Peter Sibicky -
Marcus & Millichap
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OHIO VALLEY PRIMARY CARE | 2816 W 1st St
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