501 Schrock Rd Westerville, OH 43081
- Office Properties & Spaces
- 60,133 SF
- 4.96 lot acres
Current Use by Public Records
- Midstate Educators Cu / Loan Agency
- Quadrant Insurance Managers / Insurance Broker
- Laurie Mccloud / Nurse Practitioner
- PETER DIPIAZZA / Nurse Practitioner
- DOUGLAS D FOSSELMAN / Internist
Property Details for 501 Schrock Rd
- Lot size
- 4.96 lot acres
- Property size
- 60,133 SF
- Property type
- Office Properties & Spaces
Description
This exceptional 60,133-square-foot executive office building, located at 501 W Schrock Rd in Westerville, Ohio (zip code 43081), presents a compelling investment opportunity. Situated on a 4.96-acre lot, the property boasts 270 parking spaces and is currently 100% occupied, generating a projected Net Operating Income (NOI) of $663,743 as of March 1, 2025. The asking price is $6,200,000, representing a compelling 10.7% capitalization rate and a 10.31% cash-on-cash return. Built to corporate headquarters standards, the building features high-quality construction and design, including floor-to-ceiling glass throughout and an outdoor amenity space for tenants. The efficient office suites are move-in ready. This landmark building enjoys a prime location in the Schrock Road corridor, with minimal competition from other Class A office properties, consistently ranking among the top suburban office buildings in the Columbus market. The lease term is five years. This property offers a rare opportunity to acquire a high-performing, well-located asset in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Westerville
- County
- Franklin
- State
- Ohio
- Longitude
- -82.9435
- Latitude
- 40.1103
