Two-Story Office
For Sale
Contact for pricing
560 N Cleveland Ave, Westerville, OH 43082
Two floors of office space with building signage available on Cleveland Ave, in Westar/Medical Mile just south of Polaris Pkwy.
Property Size19,876 SF
Price / SF$276.72
Days on Market189
Property Features for 560 N Cleveland Ave
General Information
Standard status
Active
Size
19,876 SF
Property subtype
OFFICE
Listing Agency:
CBRE | Columbus
(614) 224-1492
Listed By:
Molly Leach · License #2009001866
(614) 332-4795
Source:
Moodyscre
Added: Apr 24
Changed: Oct 26
Last Checked: Oct 28 at 10:15AM
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 CBRE | Columbus
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Investment Insights
Based on property information with market context.
Two-story office building offering space from 2,011 SF up to 19,840 SF. The available layout includes 9,938 SF on the first floor and 9,077 SF on the second floor, providing flexibility for a range of office users.
Building signage is available on Cleveland Ave. The property is located just south of Polaris Pkwy in Westar/Medical Mile, with 65 referring primary care physicians immediately adjacent.
The space is available for lease on an NNN basis, supporting tenants looking for a structure that separates certain operating expenses.
Building signage is available on Cleveland Ave. The property is located just south of Polaris Pkwy in Westar/Medical Mile, with 65 referring primary care physicians immediately adjacent.
The space is available for lease on an NNN basis, supporting tenants looking for a structure that separates certain operating expenses.
Key Highlights
- Available 2,011 to 19,840 SF in the office building
- First floor available: 9,938 SF
- Second floor available: 9,077 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$244,713
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,894,260
$4.9M
Cap Rate 7%
$3,495,900
$3.5M
Cap Rate 9%
$2,719,033
$2.7M
Market Conditions
NOI Build-Up for 19,876 SF
Gross rent
$429.3K $21.60/SF
− Vacancy
−$103.0K −$5.18/SF
EGI
$326.3K $16.42/SF
− OpEx
−$81.6K −$4.10/SF
NOI
$244.7K $12.31/SF
Area
Delaware 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%
$4,894,260
Cap Rate 7%
$3,495,900
Cap Rate 9%
$2,719,033
Alternative Uses
Best Use
Office B
$3.50M
$3.06M – $4.08M
NOI $244,713 @ 7.0% cap · market cap 4.45%
Second Best
Healthcare Medical
$3.00M
$2.63M – $3.50M
NOI $210,161 @ 7.0% cap · market cap 3.82%
Theoretical Best
Warehouse
$4.01M
$3.51M – $4.67M
NOI $280,423 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,804
Businesses Nearby
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Business Placement
Demographics for 43082, OH
32,459
Population
12,915
Households
2.5
Avg Household Size
44
Median Age
68%
College-Educated
98%
High-School Grad
20.9 sq mi
ZIP Area
1,553
Density / Sq Mi
$147,188
Median Household Income
$73,670
Median Earnings
$1,696
Median Rent
$433,400
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Two floors of office space with building signage available on Cleveland Ave, in Westar/Medical Mile just south of Polaris Pkwy.
Where is this office building located?
The property is located at 560 N Cleveland Ave Westerville, OH.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Available 2,011 to 19,840 SF in the office building; First floor available: 9,938 SF; Second floor available: 9,077 SF
