Ranch-Style Assisted Living
For Sale
$699,999
6685 Tussic Street Road, Westerville, OH 43082
Adaptable residential setting with finished lower-level space, shared gathering areas, and outdoor areas for resident use.
Property Size3,082 SF
Lot Size2.37 Acres
Days on Market310
Property Features for 6685 Tussic Street Road
General Information
Standard status
Active
Size
3,082 SF
Total Parking Spaces
1
Lot size
2.37 Acres
Property subtype
Business Opportunity
Taxes and HOA fees
Annual Taxes
$8,585
Amenities
wood-burning fireplace
first-floor laundry
front porch
back deck
large eat-in kitchen
expansive great room
Building Details
Building Size
3,082 SF
Buildings
2
Listing Agency:
R.K. Morris & Associates
(614) 306-7964
Listed By:
Stacey A Morris
(614) 306-7964
Source:
Carolgoffrealestate
Added: Oct 24, 2025
Changed: Aug 28
Last Checked: Aug 28 at 9:33AM
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 R.K. Morris & Associates
Investment Insights
Based on property information with market context.
This ranch-style assisted living facility includes 6 bedrooms and 3 bathrooms across a residential layout designed for shared living. Interior features include a living room, family room with a wood-burning fireplace, eat-in kitchen, expansive great room, and first-floor laundry. The recently finished 800-square-foot lower level provides additional flexible space, while a detached one-car garage offers storage or potential facility-related use.
Set on 2.37 acres at 6685 Tussic Street Road in Westerville, the property includes mature trees, a front porch, and a rear deck overlooking the grounds. Shopping, healthcare services, and major roadways are nearby, and the property is within the Westerville School District. The combination of bedroom capacity, common areas, outdoor space, and finished lower-level area supports consideration for assisted living, senior care, or transitional housing use.
Set on 2.37 acres at 6685 Tussic Street Road in Westerville, the property includes mature trees, a front porch, and a rear deck overlooking the grounds. Shopping, healthcare services, and major roadways are nearby, and the property is within the Westerville School District. The combination of bedroom capacity, common areas, outdoor space, and finished lower-level area supports consideration for assisted living, senior care, or transitional housing use.
Key Highlights
- 6‑bedroom, 3‑bath ranch home suited to an assisted living setting
- 2.37‑acre property with mature trees and residential surroundings
- Newly finished 800‑square‑foot lower level
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,576
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$491,520
$491.5K
Cap Rate 7%
$351,086
$351.1K
Cap Rate 9%
$273,067
$273.1K
Market Conditions
NOI Build-Up for 3,082 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.8K $16.80/SF
− Vacancy
−$7.1K −$2.30/SF
EGI
$44.7K $14.50/SF
− OpEx
−$20.1K −$6.52/SF
NOI
$24.6K $7.97/SF
Area
Delaware County, OH
Vacancy
13.70%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$491,520
Cap Rate 7%
$351,086
Cap Rate 9%
$273,067
Alternative Uses
Best Use
Apartment 5plus
$351.1K
$307.2K – $409.6K
NOI $24,576 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$621.2K
$543.5K – $724.7K
NOI $43,483 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Adaptable residential setting with finished lower-level space, shared gathering areas, and outdoor areas for resident use.
Where is this assisted living facility located?
The property is located at 6685 Tussic Street Road Westerville, OH.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 6‑bedroom, 3‑bath ranch home suited to an assisted living setting; 2.37‑acre property with mature trees and residential surroundings; Newly finished 800‑square‑foot lower level
