West Central Medical Center 2 Office Properties Offered at $4,305,000 in Delaware, OH

CBRE U.S. Healthcare Capital Markets is pleased to exclusively offer the opportunity to acquire West Central Medical Center (the "Property"), a two-building, 24,730 square foot medical outpatient building in Delaware, Ohio, the seat of the wealthiest and one of the two fastest-growing counties in Ohio and the Columbus MSA. The Property sits directly across from OhioHealth Grady Memorial Hospital on West Central Avenue, with the hospital adjacency driving referral volume to the tenants. Building 460 measures roughly 18,400 square feet and contains six suites. Building 454 measures 6,330 square feet, contains two suites and includes a full finished basement that can be utilized for tenant space, storage and mechanical equipment. Both buildings are laid out with a lobby and central corridors serving the suites, with common restrooms off the lobby in the 460 building.
The Property is 80.67% leased to four healthcare practices at an average in-place base rent of $18.29/sf/yr NNN. All tenancy is healthcare users, with the roster averaging more than 15 years of tenancy. Orthopedic One, the largest physician-owned orthopedic practice in Ohio, has been a tenant since 2008 occupying 9,308 square feet under a lease extension running through August 2029. OhioHealth Physician Group Obstetrics and Gynecology(Moody's: Aa2 | S&P: AA+) occupies 4,546 square feet through May 2028. Oakview Dermatology signed a new five-year lease in November 2025, expanding from 1,320 square feet to 3,810 square feet in the 454 building. Dr. Eric Batterton, DDS, occupies 2,285 square feet through May 2028. The leases all carry contractual annual escalations of 2.0% to 3.0% and are structured on a triple net basis. The Property offers upside in cash flow through the lease-up of the vacant 3,581 square feet across two suites (basement space of 1,200 square feet not included in cash flow model).
West Central Medical Center is strategically positioned within Delaware's premier medical corridor and benefits from its proximity to the 60-bed OhioHealth Grady Memorial Hospital, a full-service acute care hospital that has served the community for more than 100 years. The Property benefits from exceptional accessibility along West Central Avenue (SR 37) with convenient connectivity to U.S. Route 23, one of Central Ohio's primary north-south transportation corridors, providing efficient access throughout the greater Columbus MSA. The surrounding medical ecosystem includes a concentration of established healthcare providers and specialty practices, creating strong referral networks and long-term tenant demand. Located within one of the fastest-growing regions in Ohio, the Property is positioned to serve the area's expanding population and increasing demand for outpatient healthcare services.