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Office Medical

West Central Medical Center

460 W Central Ave, Delaware, OH 43015

Listing Price: $5,450,000

Cap Rate
6.42%
Gross SF
24,730
Rentable SF
24,730
Price/Gross SF
$220.38
Occupancy
86.0%
Year Built
1990
Lot Size
3.22 acres

Investment Overview

Marcus & Millichap is pleased to present the West Central Medical Center, located at 454 & 460 W Central Ave in Delaware, OH. Delaware County is both the #1 fastest growing and the wealthiest County in the State of Ohio. This 2 property MOB portfolio totals 24,730 SF and the buildings were constructed in 1990 and 2008 respectively. The buildings are situated 32 miles North of Downtown Columbus, Ohio. The portfolio is additionally ideally located only 0.4 miles from the 64 bed OhioHealth Grady Memorial Hospital. The properties are anchored by OhioHealth (39% | AA+ Credit Rating) and Orthopedic One, Inc. (38%). The portfolio is currently 86% leased overall, offering an attractive 6.42% current & 7.5% projected pro forma cap rate at 95% occupancy. It's important to note that the buildings are also located in a very strong medical submarket, featuring 94.5% overall occupancy for all 5K+ SF medical office buildings within a 2 mile radius. This listing offers an investor not only an attractive current yield, but also significant pro forma upside and 2 attractive anchor tenants.

Investment Highlights

  • 24,730 SF Multi-Tenant MOB Portfolio
  • 39% Leased to OhioHealth (AA+ Credit Rating) & 38% Leased to Orthopedic One, Inc.
  • 7.5% Projected Pro Forma Cap Rate at 95% Occupancy
  • Situated in Close Proximity to the Campus of the 64 Bed OhioHealth Grady Memorial Hospital
  • #1 Fastest Growing & Wealthiest County in Ohio | Located 32 Miles North of Downtown Columbus, OH

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Office Medical

West Central Medical Center

Listing Price: $5,450,000

Cap Rate
6.42%
Gross SF
24,730
Rentable SF
24,730
Price/Gross SF
$220.38
Occupancy
86.0%
Year Built
1990
Lot Size
3.22 acres

Investment Highlights

  • 24,730 SF Multi-Tenant MOB Portfolio
  • 39% Leased to OhioHealth (AA+ Credit Rating) & 38% Leased to Orthopedic One, Inc.
  • 7.5% Projected Pro Forma Cap Rate at 95% Occupancy
  • Situated in Close Proximity to the Campus of the 64 Bed OhioHealth Grady Memorial Hospital
  • #1 Fastest Growing & Wealthiest County in Ohio | Located 32 Miles North of Downtown Columbus, OH

Investment Overview

Marcus & Millichap is pleased to present the West Central Medical Center, located at 454 & 460 W Central Ave in Delaware, OH. Delaware County is both the #1 fastest growing and the wealthiest County in the State of Ohio. This 2 property MOB portfolio totals 24,730 SF and the buildings were constructed in 1990 and 2008 respectively. The buildings are situated 32 miles North of Downtown Columbus, Ohio. The portfolio is additionally ideally located only 0.4 miles from the 64 bed OhioHealth Grady Memorial Hospital. The properties are anchored by OhioHealth (39% | AA+ Credit Rating) and Orthopedic One, Inc. (38%). The portfolio is currently 86% leased overall, offering an attractive 6.42% current & 7.5% projected pro forma cap rate at 95% occupancy. It's important to note that the buildings are also located in a very strong medical submarket, featuring 94.5% overall occupancy for all 5K+ SF medical office buildings within a 2 mile radius. This listing offers an investor not only an attractive current yield, but also significant pro forma upside and 2 attractive anchor tenants.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

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