Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5330 Warner Rd Westerville, OH 43081
    Property profile & analytics

    5330 Warner Rd, Westerville, OH 43081

    View on Map
    • Neighborhood centers
    • 33,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hondros Crossing by Christoff / Construction Company / General Contractor

    Property Details for 5330 Warner Rd

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional retail opportunity presents 18,000 square feet of vacant space within a 33,000-square-foot strip center located at the northeast corner of Hamilton Road and Warner Road in Westerville, Ohio. The property, part of the Hondros Crossing mixed-use development, benefits from a highly desirable location within a rapidly growing submarket of Columbus. Situated less than one mile from SR-161 and 3.5 miles from I-270, it enjoys exceptional visibility and accessibility. The site is strategically positioned near a newly developed Turkey Hill, thousands of new apartments, and the Hamilton Quarter Project, encompassing 700,000 square feet of new office space, a new Ohio State University Hospital, 800 multi-family units, and 130 senior housing units. Roadway improvements to Warner and Hamilton Roads are projected to generate 20,000 cars per day along Hamilton Road, ensuring high traffic volume. Units are divisible to a minimum of 1,000 square feet, offering flexibility for various retail concepts. The property is zoned CPD - Commercial Planned District (Franklin County APN: 010-263114-00) and currently houses established tenants including Hondros College, Zoom Room Dog Training, and Afton Blu Hair Salon. This presents a unique chance to join a thriving mixed-use development in a strong retail market with affluent demographics. The available space ranges from 1,000 to 17,000 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Westerville
    County
    Franklin
    State
    Ohio
    Longitude
    -82.8491
    Latitude
    40.0922

    Comparable in this City

    • Value Estimation by Request
      216,957 SF

      111 Huber Village Blvd

      Lifestyle centers
      111 Huber Village Blvd, Westerville, OH 43081
      View Details
    • Value Estimation
      $3,465,000
      28,000 SF

      8269 Market Exchange Dr, Unit 8333

      SHOPPING CENTER, STRIP CENTER
      8269 Market Exchange Dr, Westerville, OH 43081-7020
      View Details
    • Value Estimation
      $1,860,000
      15,624 SF

      15 Cherri Park Sq, Unit 45

      SHOPPING CENTER, STRIP CENTER
      15 Cherri Park Sq, Westerville, OH 43081-4920
      View Details
    • Value Estimation by Request
      0.89 Acres

      586 Schrock Rd, Unit 604

      SHOPPING CENTER, STRIP CENTER
      586 Schrock Rd, Westerville, OH 43081-8996
      View Details
    • Value Estimation
      $665,000
      15,822 SF

      399 State St

      SHOPPING CENTER, STRIP CENTER
      399 State St, Westerville, OH 43081-2600
      View Details
    • Value Estimation
      $530,000
      15,882 SF

      Parkview Ave

      SHOPPING CENTER, STRIP CENTER
      Parkview Ave, Westerville, OH 43081
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,693 SF

      Westerville Office/Retail Opportunity

      Prime location with high visibility and accessibility in Westerville.
      17 W Schrock Rd, Westerville, OH 43081
      View Details
    • Contact for pricing
      60,133 SF

      Westerville Office Building For Sale

      Corporate HQ quality office building with move-in ready suites.
      501 W Schrock Rd, Westerville, OH 43081
      View Details
    • Contact for pricing

      Westerville 6-Unit Income Property

      Stabilized, cash-flowing 6-unit property in Westerville, Ohio.
      973 Cross Country Dr W, Westerville, OH 43081
      View Details
    • Contact for pricing
      1,100 SF

      Westerville Office Suite Investment

      Tenant-occupied office suite near I-270 with immediate income potential.
      623 Park Meadow Rd, Westerville, OH 43081
      View Details
    • $649,900
      3,411 SF

      Westerville Commercial Land For Sale

      0.57 acre lot with frontage on State Street.
      480 South State St, Westerville, OH 43081
      View Details
    • New
      $215,000
      0.23 Acres

      Residential Lot in Westerville, OH

      Residential lot near Uptown Westerville, build your dream home.
      344 Myrtle Dr, Westerville, OH 43081
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Westerville Mixed-Use Development Opportunity

      6.4-acre mixed-use development in a strong retail market.
      5330 Warner Rd, Westerville, OH 43081
      View Details
    • Contact for pricing
      30,000 SF

      West Park Plaza Redevelopment Opportunity

      Mixed-use redevelopment opportunity in dynamic retail area near major thoroughfares.
      95-131 Huber Village Blvd, Westerville, OH 43081
      View Details
    • Contact for pricing
      1,227 SF

      Retail Space in Westerville, OH

      Retail spaces available near Cleveland Ave and I-270.
      556-640 W Schrock Rd, Westerville, OH 43081
      View Details
    • Contact for pricing

      Westerville Shopping Center Retail Space

      216,957 SF shopping center in Westerville, Ohio.
      111 Huber Village Blvd, Westerville, OH 43081
      View Details
    • Contact for pricing

      Retail Space in Glengary Center

      Retail spaces available in high-traffic Westerville corridor near major retailers.
      5926-5992 Westerville Rd, Westerville, OH 43081
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Sunbury Plaza

      Retail space for lease in renovated Westerville shopping center.
      5947-6047 Sunbury Rd, Westerville, OH 43081
      View Details
    Request Owner's contact information
    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.
    5330 Warner Rd
    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
    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

    Thank You for Inquiry
    5330 Warner Rd, Westerville, OH, 43081
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!