Windowed Office
For Sale
Contact for pricing
253 N State Street #101, Westerville, OH 43081
Nine private offices and two conference rooms provide dedicated spaces for focused work and group sessions.
Property Size13,248 SF
Price / SF$0.00
Days on Market30
Property Features for 253 N State Street #101
General Information
Standard status
Active
Size
13,248 SF
Property subtype
Office
Additional Details
Condition
Move-in Ready
Property Use
Office
Amenities
windows
natural light
large offices
training/conference rooms
kitchen
coffee/wet bar
lab room
break room
outdoor patio area
Building Details
Year Built
2000
Listing Agency:
Hanna Commercial, LLC
(614) 888-3456
Listed By:
Julie Woodson · License #2016002723
(614) 506-0476
Source:
Livewellhomegrp
Added: Sep 30
Changed: Oct 28
Last Checked: Oct 28 at 3:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hanna Commercial, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,872 (+-) Sq. Ft. office suite is available for immediate occupancy under a sublease running through 7/31/2028. Its layout includes nine offices with windows, two rooms for training or meetings, a kitchen with a separate coffee and wet bar, and a lab or break room equipped with a sink. An outdoor patio adds another shared amenity.
The property is at 253 N State Street in Westerville, less than ½ mile from Uptown Westerville shopping and dining. The suite’s lease covers gas, water, electric, sewer, and trash, along with landscaping, snow removal, and upkeep of the exterior and common areas.
The property is at 253 N State Street in Westerville, less than ½ mile from Uptown Westerville shopping and dining. The suite’s lease covers gas, water, electric, sewer, and trash, along with landscaping, snow removal, and upkeep of the exterior and common areas.
Key Highlights
- 3,872 (+-) Sq. Ft. office suite available for immediate occupancy
- Sublease term extends through 7/31/2028
- Nine windowed offices and two training or conference rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$163,109
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,262,180
$3.3M
Cap Rate 7%
$2,330,129
$2.3M
Cap Rate 9%
$1,812,322
$1.8M
Market Conditions
NOI Build-Up for 13,248 SF
Gross rent
$286.2K $21.60/SF
− Vacancy
−$68.7K −$5.18/SF
EGI
$217.5K $16.42/SF
− OpEx
−$54.4K −$4.10/SF
NOI
$163.1K $12.31/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,262,180
Cap Rate 7%
$2,330,129
Cap Rate 9%
$1,812,322
Alternative Uses
Best Use
Office B
$2.33M
$2.04M – $2.72M
NOI $163,109 @ 7.0% cap · market cap 1,087,393.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.70M
$2.36M – $3.15M
NOI $189,062 @ 7.0% cap · market cap 1,260,413.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,202
Businesses Nearby
Explore this area
Business Placement
Demographics for 43081, OH
64,338
Population
28,457
Households
2.3
Avg Household Size
37
Median Age
54%
College-Educated
98%
High-School Grad
25.1 sq mi
ZIP Area
2,563
Density / Sq Mi
$90,336
Median Household Income
$55,015
Median Earnings
$1,434
Median Rent
$297,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Nine private offices and two conference rooms provide dedicated spaces for focused work and group sessions.
Where is this office unit located?
The property is located at 253 N State Street #101 Westerville, OH.
What are key features of this property?
This property features: 3,872 (+-) Sq. Ft. office suite available for immediate occupancy; Sublease term extends through 7/31/2028; Nine windowed offices and two training or conference rooms
