Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    480 Olde Worthington Rd Westerville, OH 43082

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $12 SF/Yr

    Office suites available in a well-located, easily accessible professional campus.

    Property size:
    102,487 SF
    Lot size:
    102,487 SF

    Property Features for 480 Olde Worthington Rd

    General Information

    Size
    102,487 SF

    Building Details

    Year built
    2000

    We can help!

    Listing Contact
    Kristy Daniel, SIOR
    Source: Corfac

    Listing Agent: Kristy Daniel, SIOR

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Professional Office Campus Near I-71

    Located at 480 Olde Worthington Road, this office building offers a variety of options on the third floor, overlooking a serene and professional office campus. The property is situated close to I-71 for easy accessibility. The available space totals 15,312 rentable square feet and can be divided to accommodate tenants needing anywhere from 1,206 to 10,952 rentable square feet of contiguous space. The building is efficiently designed with a 9% common area factor to maximize usability and create a welcoming entrance. The property has abundant parking at a ratio of 5.5 spaces per 1,000 square feet. The 102,487 square foot, 3-story office building is situated on 8.96 acres. Significant nearby amenities include restaurants, banking, grocery, hotels, and fitness facilities. It is located minutes from Polaris Parkway and I-71, in close proximity to hotels, restaurants, banks, and the Polaris Shopping Mall.
    Location Intelligence

    Current Use by Public Records

    The SmarTV Company, LLC Software Company Tiller Tracking Software Company Lake Shore Cryotronics ... Corporate Office NRL Mortgage- Columbus Mortgage Lender Abby Solutions Group Property Maintenance

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westerville
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9624683
    Latitude
    40.1397674

    Nearby Similar for Lease

    • $3,960 /Mo
      2,880 SF

      Westerville Office/Warehouse Space Available

      Class B office/warehouse space for lease in Westerville, Ohio.
      200 Hoff Rd, Westerville, OH 43082
      View Details
    • $3,960 /Mo
      2,880 SF

      Westerville Office/Warehouse Space for Lease

      Class B office/warehouse space in Westerville, Ohio.
      200 Hoff Rd, Westerville, OH 43082
      View Details
    • New
      $3,500 /Mo
      4,084 SF

      Updated Office Suite in Westerville

      Professionally updated office suite near Uptown Westerville and Polaris Parkway.
      514 N State St, Westerville, OH 43082
      View Details
    • $3,190 /Mo
      2,000 SF

      Westerville Office Space For Rent

      Class B office space with easy access to major roadways.
      5441 Westerville Rd, Westerville, OH 43081
      View Details
    • $2,560 /Mo
      1,280 SF

      Westerville Office Space For Lease

      Class B office space for lease in Westerville, Ohio.
      653 Mccorkle Blvd, Westerville, OH 43082
      View Details
    • $19 SF/Yr
      26,807 SF

      Office Space in Hamilton Quarter

      New office space in a mixed-use development.
      4960 E Dublin Granville Rd, Westerville, OH 43081
      View Details
    • Contact for pricing
      76,437 SF

      Retail Space in Glengary Center

      Retail spaces available in high-traffic Westerville corridor near major retailers.
      5926-5992 Westerville Rd, Westerville, OH 43081
      View Details
    • Contact for pricing
      30,000 SF

      West Park Plaza Redevelopment Opportunity

      Mixed-use redevelopment opportunity in dynamic retail area near major thoroughfares.
      95-131 Huber Village Blvd, Westerville, OH 43081
      View Details
    • $10 SF/Yr
      1,782 SF

      Medical Office Space Near Hospital

      Office space for rent near Mount Carmel Saint Ann’s hospital.
      615 Copeland Mill Rd, Westerville, OH 43081
      View Details
    • New
      $550 /Mo
      12,608 SF

      Westerville Office Space For Rent

      Single occupancy office space available in Westerville, Ohio.
      570 N State St, Westerville, OH 43082
      View Details
    • $9 SF/Yr
      9,772 SF

      Westerville Flex Industrial Warehouse Space

      9,227 sq. ft. flex space with modern office and warehouse.
      975 Eastwind Dr, Westerville, OH 43081
      View Details
    • $2,700,000
      16,800 SF

      Westerville Office and Warehouse Space

      Office and warehouse spaces available for lease in Westerville, OH.
      8692-8724 Olde Worthington Rd, Westerville, OH 43082
      View Details

    FAQs

    What type of property is this?
    Office building - Office suites available in a well-located, easily accessible professional campus.
    Where is this office building located?
    The property is located at 480 Olde Worthington Rd Westerville, OH.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: - Easily accessible to I-71 and Polaris Parkway.; - Abundant parking with a ratio of 5.5/1,000 SF.; - Flexible suite sizes available, ranging from 1,206 RSF up to 10,952 RSF.
    (614) 560-7340
    Request Owner's contact information
    480 Olde Worthington Rd Westerville, OH 43082
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    480 Olde Worthington Rd
    Westerville, OH 43082
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    480 Olde Worthington Rd Westerville, OH 43082
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Kristy Daniel, SIOR
    (614) 560-7340
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.