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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1 State St Westerville, OH 43081-2121

    • Turn key restaurants
    • 0.03 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0284884
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Graeter's Ice Cream / Grocery & Convenience Store / Specialty Food Shop
    • T3's Lawn Services LLC / Landscaping
    • Jimmy V's Grill & Pub / Bar & Pub / Restaurant
    • Reidel Cleaning Services / Hardware & Home Improvement

    Property Details for 1 State St

    Lot size
    0.03 lot acres
    Property type
    Turn key restaurants
    APN
    080-001251
    APU
    80001251

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Westerville
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9319
    Latitude
    40.1256
    CBSA code
    18140
    CBSA name
    COLUMBUS, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $826
    $10,050
    $0.00
    $10,050
    -
    $28,700
    $0.00
    $28,700

    Comparable in this City

    • Value Estimation
      $505,000
      5,190 SF

      39 State St

      RESTAURANT • 5,190 SF
      39 State St, Westerville, OH 43081-2123
      View Details
    • Value Estimation by Request
      3,876 SF

      1 State St

      RESTAURANT • 3,876 SF
      1 State St, Westerville, OH 43081-2121
      View Details
    • Value Estimation by Request
      0.07 Acres

      College Ave

      RESTAURANT • 0.07 Acres
      College Ave, Westerville, OH 43081
      View Details
    • Value Estimation by Request
      2,707 SF

      6000 Westerville Rd

      RESTAURANT • 2,707 SF
      6000 Westerville Rd, Westerville, OH 43081-4070
      View Details
    • Value Estimation by Request
      5,473 SF

      103 State St

      RESTAURANT • 5,473 SF
      103 State St, Westerville, OH 43081-2044
      View Details
    • Value Estimation by Request
      816 SF

      596 Cleveland Ave

      RESTAURANT • 816 SF
      596 Cleveland Ave, Westerville, OH 43081-8970
      View Details

    Similar Nearby for Sale

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      13,122 SF

      Eastwind Professional Building Office Suites

      Single-story office building with suites available in Westerville, Ohio.
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      Westerville Commercial Land For Sale

      0.88 acres of commercial land in Westerville, Ohio.
      455 N State St, Westerville, OH 43081
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    • $649,900
      0.57 Acres

      Westerville Land For Sale

      0.57 acre lot in high-traffic Westerville location.
      480 S State St, Westerville, OH 43081
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      1,216 SF

      Westerville Townhouse with Courtyard

      Two-bedroom townhouse with basement, courtyard, and community amenities.
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    Similar Nearby for Lease

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      9,477 SF

      Uptown Westerville Retail Space

      Prime Retail Space, Available April 2025
      10 State St, Westerville, OH 43081
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      1,600 SF

      Retail Space in Westerville, OH

      Retail spaces available near Cleveland Ave and I-270.
      556-640 W Schrock Rd, Westerville, OH 43081
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      216,957 SF

      West Park Plaza Retail Center

      Westerville Shopping Center: Spaces Available
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      33,000 SF

      Westerville Retail Space Available

      Prime Retail, High-Traffic Location
      5330 Warner Rd, Westerville, OH 43081
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      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
      76,437 SF

      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

    Property Visit Statistics

    • Visits by month
      9.1k
    • Visitors by month
      6.7k
    • Avg Time on site
      31 min
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    1 State St
    Westerville, OH 43081-2121
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    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
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