Main Street Medical Office
Office | 8.26% CAP | 11,200 SqFt
Marketing description
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
Investment highlights
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
GREATER COLUMBUS AREA
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 commitmentsHonda 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 jobsProduction 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
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