Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4079 Executive Pkwy Westerville, OH 43081
    Back to Search
    Property profile & analytics

    4079 Executive Pkwy Westerville, OH 43081

    View on Map
    • Office properties & Spaces
    • 43,593 SF
    • 4.87 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ANN INC / Corporate Office
    • Utility Sales / Association Or Organization

    Property Details for 4079 Executive Pkwy

    Year built
    1988
    Lot size
    4.87 lot acres
    Property size
    43,593 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional three-story Class B office building, constructed in 1988, presents a compelling investment opportunity in Westerville, Ohio. Located at 4079 Executive Parkway, this property boasts a substantial 43,593 square feet of vacant space, offering immediate occupancy for a wide range of businesses. The building sits on a generous 4.87-acre lot and includes an ample 311-space parking lot, providing approximately one parking space for every 130 square feet of office space. The asking price is $3,749,000, translating to a price per square foot of $86, representing a below-market value. Its strategic location at the gateway to New Albany, with convenient access to State Route 161 and I-270, ensures high visibility and easy commutes. Potential economic incentives may be available, adding further value to this already attractive proposition. The property's size and features make it ideal for a variety of uses, and its current vacant status allows for immediate customization to suit a new tenant's specific needs. This is a rare opportunity to acquire a significant office building in a prime location at a highly competitive price.

    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
    -82.9035
    Latitude
    40.0843

    Comparable in this City

    • Value Estimation by Request
      91,408 SF

      477 Cooper Rd

      Medical Office Space • 91,408 SF
      477 Cooper Rd, Westerville, OH 43081
      View Details
    • Value Estimation by Request
      2,042 SF

      660 Cooper Rd Ste, Unit 600

      CONDOMINIUM OFFICES • 2,042 SF
      660 Cooper Rd Ste, Westerville, OH 43081-9235
      View Details
    • Value Estimation by Request
      865 SF

      1001 Eastwind Dr Ste, Unit 404

      CONDOMINIUM OFFICES • 865 SF
      1001 Eastwind Dr Ste, Westerville, OH 43081-3318
      View Details
    • Value Estimation by Request
      3,340 SF

      660 Cooper Rd Ste 400a

      CONDOMINIUM OFFICES • 3,340 SF
      660 Cooper Rd Ste 400a, Westerville, OH 43081-8516
      View Details
    • Value Estimation by Request
      1,284 SF

      926 Eastwind Dr

      CONDOMINIUM OFFICES • 1,284 SF
      926 Eastwind Dr, Westerville, OH 43081
      View Details
    • Value Estimation by Request
      1,284 SF

      891 Eastwind Dr

      CONDOMINIUM OFFICES • 1,284 SF
      891 Eastwind Dr, Westerville, OH 43081-3328
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,243 SF

      Remodeled Office Condo with Green Space

      Newly remodeled office condo with green space and ample parking.
      190 S State St, Westerville, OH 43081
      View Details
    • Contact for pricing
      162,490 SF

      Westerville Multi-Building Office Campus

      Multi-building office campus in Westerville, Ohio, totaling 162,490 square feet.
      340-350 N Cleveland Ave, Westerville, OH 43081
      View Details
    • Contact for pricing

      Westerville Office Building Near Hospital

      9,600 SF office building with suite available near St. Ann's.
      137-151 W Schrock Rd, Westerville, OH 43081
      View Details
    • $390,000
      2,042 SF

      Westerville Medical Office Condo

      Medical office condo with exam rooms and ample parking.
      660 Cooper Rd, Westerville, OH 43081
      View Details
    • 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
      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

    Similar Nearby for Lease

    • $11 SF/Yr
      14,585 SF

      Westerville Flex Space Available

      Versatile building suitable for office, flex, tech, or lab use.
      770-780 Brooksedge Plaza Dr, Westerville, OH 43081
      View Details
    • Contact for pricing

      Westerville Medical Suites For Rent

      Medical suites available near OhioHealth Medical Campus & St. Ann’s.
      484 County Line Rd W, Westerville, OH 43081
      View Details
    • Contact for pricing

      Westerville Multi-Tenant Office Building

      Three-story office building in Westerville, totaling 119,925 square feet.
      4151 Executive Pkwy, Westerville, OH 43081
      View Details
    • Contact for pricing

      Medical Office Campus Near Hospital

      Medical office space available near Mount Carmel St. Ann’s Hospital.
      615 Copeland Mill Rd, Westerville, OH 43081
      View Details
    • Contact for pricing

      Schrock Professional Center Office Space

      Office building with space available near St. Ann's Hospital.
      137-151 W Schrock Rd, Westerville, OH 43081
      View Details
    • Contact for pricing
      26,807 SF

      Office Space in Hamilton Quarter

      New office space in a mixed-use development.
      4960 E Dublin Granville 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.
    4079 Executive Pkwy
    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
    4079 Executive Pkwy, 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!