Polaris Flex Space For
For Sale
Contact for pricing
8752-8958 Cotter St, Lewis Center, OH
Flex space near I-71 and Route 23 available for rent.
Property Size2,233 SF
Lot Size30.44 Acres
Price / SF$138.83
Days on Market270
Property Features for 8752-8958 Cotter St
General Information
Standard status
Active
Size
2,233 SF
Lot size
30.44 Acres
Property subtype
FLEX_R_AND_D
Lease Type
Modified Gross
Properties For Sale
at 8752-8958 Cotter St Contact us- Floor
- 1
- Size
- 2,233 SF
- Type
- OFFICE
- Lease Type
- MODIFIED_GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
8842 Whitney Dr
NICE SMALL OFFICE SUITE AT GREEN MEADOWS FEATURES 4 PRIVATE OFFICES, CONFERENCE ROOM,...
show more
Contact us
- Size
- 6,650 SF
- Type
- FLEX_R_AND_D
- Lease Type
- NNN
- Availability
- AVAILABLE
Polaris Flex Space
Listing Agency:
Equity - Corporate
(614) 802-2900
Listed By:
Jeff Meyer · License #2003014855
(614) 802-2900
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 12
Last Checked: Aug 21 at 4:57AM
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 Equity - Corporate
Investment Insights
Based on property information with market context.
This flex space is located in the Polaris area, offering a convenient location with close proximity to I-71 and situated approximately half a mile east of Route 23. The property has an area of 2233 square feet. Condo fees are estimated at $2 per square foot. Utilities are separately metered and paid by the tenant.
Key Highlights
- Convenient location near Polaris.
- Close proximity to I‑71.
- Half mile east of Route 23.
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
$27,493
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
8.87%
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%
$549,860
$549.9K
Cap Rate 7%
$392,757
$392.8K
Cap Rate 9%
$305,478
$305.5K
Market Conditions
NOI Build-Up for 2,233 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
$48.2K $21.60/SF
− Vacancy
−$11.6K −$5.18/SF
EGI
$36.7K $16.42/SF
− OpEx
−$9.2K −$4.10/SF
NOI
$27.5K $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 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%
$549,860
Cap Rate 7%
$392,757
Cap Rate 9%
$305,478
Alternative Uses
Best Use
Office B
$392.8K
$343.7K – $458.2K
NOI $27,493 @ 7.0% cap · market cap 8.87%
Second Best
Industrial
$370.6K
$324.3K – $432.4K
NOI $25,945 @ 7.0% cap · market cap 8.37%
Theoretical Best
Warehouse
$450.1K
$393.8K – $525.1K
NOI $31,505 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flex space near I-71 and Route 23 available for rent.
Where is this office units located?
The property is located at 8752-8958 Cotter St Lewis Center, OH.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Convenient location near Polaris.; Close proximity to I‑71.; Half mile east of Route 23.
