Two-Story Office Building with Private
299 S State St, Westerville, OH 43081
For Sale
Contact for pricing
Zoned OI, the property includes a reception area, multiple offices, conference rooms, and an on-site kitchen.
Property Size2,323 SF
Lot Size0.18 Acres
Price / SF$214.81
Days on Market33
Property Features for 299 S State St
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Additional Details
Property Use
Amenities
Front reception/waiting area
New windows
2 Large Training/Conference Rooms
4+ Offices
Beautiful kitchen/breakroom
Outside front porch sitting area
ADA ramp & bathroom
Attached storage shed/workshop
Outside storage shed
White vinyl privacy fencing
Building Details
Buildings
Stories
Building Size
Listing Agency:
Hanna Commercial Real Estate
Listed By:
Julie Woodson · License OH #2016002723
(614) 506-0476
Source:
Crexi
Added: Oct 9
Changed: Nov 8
Last Checked: Nov 10 at 9:15AM
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 Real Estate
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 two-story office building includes a basement and measures approximately 2,323 square feet on a 7,841-square-foot lot. The layout features a front reception and waiting area, four or more offices, and two large training or conference rooms, along with a kitchen and breakroom. New windows bring natural light into the space. An ADA ramp and bathroom are complemented by an additional bath. Exterior features include a front porch sitting area, an attached storage shed and workshop, and a separate 10-by-20-foot storage shed. White vinyl fencing encloses the property.
The property is located at 299 S State St in Westerville, Ohio. Zoning is OI, and the site has a private asphalt parking lot with 10 spaces.
The property is located at 299 S State St in Westerville, Ohio. Zoning is OI, and the site has a private asphalt parking lot with 10 spaces.
Key Highlights
- Approximately 2,323 square feet across two stories, plus a basement
- 7,841‑square‑foot lot with 10 on‑site parking spaces
- Four or more offices and two large training or conference rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,601
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$572,020
$572.0K
Cap Rate 7%
$408,586
$408.6K
Cap Rate 9%
$317,789
$317.8K
Market Conditions
NOI Build-Up for 2,323 SF
Gross rent
$50.2K $21.60/SF
− Vacancy
−$12.0K −$5.18/SF
EGI
$38.1K $16.42/SF
− OpEx
−$9.5K −$4.10/SF
NOI
$28.6K $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%
$572,020
Cap Rate 7%
$408,586
Cap Rate 9%
$317,789
Alternative Uses
Best Use
Office B
$408.6K
$357.5K – $476.7K
NOI $28,601 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$473.6K
$414.4K – $552.5K
NOI $33,151 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,324
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
$297,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office buildings in Franklin County, OH
Properties on Market for Office buildings in Franklin County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Zoned OI, the property includes a reception area, multiple offices, conference rooms, and an on-site kitchen.
Where is this office building located?
The property is located at 299 S State St Westerville, OH.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Approximately 2,323 square feet across two stories, plus a basement; 7,841‑square‑foot lot with 10 on‑site parking spaces; Four or more offices and two large training or conference rooms
