1435-1445 W Main St - Office FOR SALE


Newark, OH 43055
$1,650,000 USD
765-748-6570
1435-1445 W Main St, Newark, OH for Sale
$1,650,000 USD
Office - FOR SALE
1/6
null | 8.26% Cap Rate

1435-1445 W Main St
Newark, OH 43055


HIGHLIGHTS

  • 100% leased medical office building
  • Leased to three medical and healthcare service providers | Long-standing tenancy with limited historical vacancy
  • Leases structured to support long-term operational stability
  • Newark serves as the county seat of Licking County, supporting stable healthcare demand
  • Approximately 35 miles east of Downtown Columbus, benefiting from regional growth spillover

OVERVIEW

Investment Overview: Main Street Medical Office provides investors with the opportunity to acquire a fully stabilized medical office asset offering attractive yield, defensive tenancy, and below-replacement pricing. The combination of net leases, strong cash flow, and proximity to the Columbus MSA positions the asset as a compelling long-term hold in a resilient property sector. STABILIZED MEDICAL OFFICE BUILDING - 100% leased medical office building Tenants reimburse: - Common Area Maintenance (CAM), Real Estate Taxes, Insurance, & Management Fees - 4.48-year Weighted Average Lease Term (WALT) - Single-story medical office configuration - Ample surface parking to support medical use - Functional floor plates suitable for continued medical occupancy MEDICAL TENANCY Leased to three medical and healthcare service providers Long-standing tenancy with limited historical vacancy Medical office sector continues to outperform traditional office in secondary markets Leases structured to support long-term operational stability Market & Location Highlights - Located along W Main Street, a primary arterial serving Newark - Close Proximity to Licking Memorial Health Systems and established medical corridor - Newark serves as the county seat of Licking County, supporting stable healthcare demand - Approximately 35 miles east of Downtown Columbus, benefiting from regional growth spillover - Surrounding area features dense residential neighborhoods, retail services, and healthcare users John Glenn Columbus International Airport – $2B Expansion - A $2 ?Billion rebuild of the terminal is underway, with construction commencing in early 2025 and expected completion by 2029 - Features include a new 1 million sq ft terminal, 36 gates (up from 29), centralized security, pedestrian bridge access, and a 5,000-space parking garage with EV chargers - Designed to increase capacity by ~51%, significantly enhancing passenger experience Ohio State University & Honda Battery R&D - OSU is launching a 25,000 sq ft battery cell R&D facility within its innovation district, set to open in April 2025, with $22?million in commitments - Honda is contributing $15?million, with support from Schaeffler and federal backing (~$4.5?million via NIST) - Additionally, OSU received a $1?million gift from Honda to establish an endowed professorship in automotive manufacturing Anduril “Arsenal-1” Defense Manufacturing - Anduril Industries is investing nearly $1?billion to build a 5-million-sq-ft advanced defense manufacturing plant near Rickenbacker (Pickaway County), creating 4,000 direct jobs - Production expected to begin by July 2026, with Anduril receiving a 30-year tax credit to support the project Honda & LG Energy Solution Battery Plant - Honda and LG Energy Solution are investing $3.5?billion in a new EV battery plant in Fayette County, creating 2,200 jobs, alongside 300 additional jobs from retooling existing plants Silicon Corridor & Major Investors - Columbus is evolving into a Silicon Heartland/Corridor, anchored by heavy-hitters like Intel, Anduril, and Honda/LG - A robust tech-manufacturing workforce sustained by Ohio State, Columbus State Community College, and K–12 STEM initiatives, with Central Ohio designated a White House Workforce Hub

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$147 USD /SF

CAP RATE

8.26%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Main Street Medical Office

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.23 AC

LAND SF

53,579 SF

ZONING

commercial

APN/PARCEL ID

054-216672-00.010

ASK ABOUT THIS PROPERTY

Forest BenderMarcus & MillichapMore Info
765-748-6570

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Forest BenderMarcus & MillichapMore Info
765-748-6570

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.