Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    175 Broadway Ave Westerville, OH 43081

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    85,000 SF Multi-Tenant Industrial Building

    Lot size:
    85,000 SF

    Property Features for 175 Broadway Ave

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    85,000 SF
    Total Rate
    67291.67

    Spaces For Lease

    at 175 Broadway Ave, Westerville, OH 43081 Contact us
    Unit Available Space 1

    $9 /Mo

    Size
    32,000 SF
    Contact us

    We can help!

    Listing Contact
    Scott Hrabcak
    Scott Hrabcak

    Listing Agency: Hanna Commercial, LLC Listing Agent: Scott Hrabcak

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional industrial property, located at 175 E Broadway Ave, Westerville, OH 43081 (Broadway & Vine), offers a prime opportunity for businesses seeking flexible space in a highly sought-after location. The 85,000 square foot building features multiple tenancy options, with a minimum divisible space of 10,000 square feet and currently 42,000 square feet available for lease. The property sits on 5 acres of land and boasts impressive features including 16-20 foot ceiling heights, providing ample vertical storage capacity. Efficient operations are ensured with 2 loading docks, 4 dock-high doors, and 4 drive-in doors. Ample parking is available with 130 total spaces. The building is equipped with 480V, 3-phase power, catering to a variety of industrial needs. The property is zoned industrial and situated within the Westerville submarket, offering excellent access to major transportation routes. This versatile space is ideal for manufacturing, warehousing, and distribution operations. The property's location in the Northeast Corridor adds to its appeal.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Raising a Hitter Gym & Fitness Center Titan Logistics Freight Service Hand to Hand Homecare Home Health Care Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westerville
    County
    Franklin
    State
    Ohio
    Longitude
    -82.92545955
    Latitude
    40.12969432

    Nearby Similar for Lease

    • $2,400 /Mo
      1,280 SF

      Westerville Office Space For Lease

      Class B office space in Westerville, Ohio available for lease.
      653 Mccorkle Blvd, Westerville, OH 43082
      View Details
    • $3,500 /Mo
      4,084 SF

      Updated Office Suite in Westerville

      Professionally updated office suite near Uptown Westerville and Polaris Parkway.
      514 N State St, Westerville, OH 43082
      View Details
    • $3,190 /Mo
      2,000 SF

      Westerville Office Space For Rent

      Class B office space with easy access to major roadways.
      5441 Westerville Rd, Westerville, OH 43081
      View Details
    • $550 /Mo
      12,608 SF

      Westerville Office Space For Rent

      Single occupancy office space available in Westerville, Ohio.
      570 N State St, Westerville, OH 43082
      View Details
    • Sponsored
      Contact for pricing

      Polaris

      Discover many ways to work your way in Reston Town Center I
      470 Olde, Westerville, OH 43082
      View Details
    • Contact for pricing

      Versatile Flex Space Available

      Flex space with office/warehouse split and highway access.
      742-762 Brooksedge Plaza Dr, Westerville, OH 43081
      View Details
    • Contact for pricing

      Single-Story Office Building For Rent

      Single-story office building with floor-to-ceiling glass near I-71.
      999 County Line Rd W, Westerville, OH 43082
      View Details
    • Contact for pricing

      Westerville Office Space For Rent

      Office space with excellent I-270 access and high visibility.
      241 West Schrock Rd, Westerville, OH 43081
      View Details
    • Contact for pricing

      Westerville Office Space For Rent

      Office space with excellent I-270 access and high parking ratio.
      275 West Schrock Rd, Westerville, OH 43081
      View Details
    • $10 SF/Yr
      2,559 SF

      Medical Office Space For Rent

      Office space available across from St. Ann’s Hospital.
      595 Copeland Mill Rd, Westerville, OH 43081
      View Details
    • $10 SF/Yr
      2,264 SF

      Medical Office Space For Rent

      Medical office space available across from St. Ann’s Hospital.
      575 Copeland Mill Rd, Westerville, OH 43081
      View Details
    • $22 SF/Yr
      1,713 SF

      Westerville Retail/Office Space Available

      Retail/office space in Westerville, ideal for office use.
      780-792 S State St, Westerville, OH 43082
      View Details

    FAQs

    What type of property is this?
    Distribution property - 85,000 SF Multi-Tenant Industrial Building
    Where is this distribution property located?
    The property is located at 175 Broadway Ave Westerville, OH.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    (614) 545-1432 Call to check price and availability
    Request Owner's contact information
    175 Broadway Ave Westerville, OH 43081
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    175 Broadway Ave
    Westerville, OH 43081
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    175 Broadway Ave Westerville, OH 43081
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Scott Hrabcak
    Scott Hrabcak
    Real Estate License ID: 354109
    (614) 545-1432 (614) 906-2225 (614) 891-7400
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!