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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Medical Office Space
109 Commerce Park Dr Westerville, OH 43082-8349
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US66-0083801
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2002
Total area
2,867 SF
APN
317-334-03-006-504
UPID
US66-0083801
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
PrimeMD Medical Clinic
-
Christopher L Demas Md Inc Media Distribution (Bike/Boat/Book/etc) Store
-
Donna Church Physician
-
Women’s Integrative Medicine OBGYN Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$740k
CAP Approach
CAP
$465k
Comparable Approach
Comparable
$601k
Blend (final)
Blend
$740k
Owner & transaction history
109 Commerce Park Drive LLC · 2 yrs held
109 Commerce Park Drive LLC
since 2024
Last sale
$740,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$565,000
+14.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Westerville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westerville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$740,000
ML approach
$740,000
CAP Approach
CAP Return
Estimation
6%
$505,000
6.5%
$465,000
7%
$435,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$495,000
Current use
COMMERCIAL (GENERAL)
$565,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$740k
Range $666k – $814k · ±10% · vs last sale $740k (May 17 2024)
Last sale anchor
$740k
May 17 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$258 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$17,655
Tax year 2023
Assessed value
$239,050
Assessed 2023
Previous assessed
$239,050
+0.0% YoY
Effective rate
7.39%
On assessed value
Assessed land
$46,690
Assessed improvement
$192,360
Land market value
$133,400
Improvement market value
$549,600
Total market value
$683,000
Applied tax rate
18.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2002
Heating
YES
Cooling
YES
Stories
1
Total area
2,867 SF
APN
317-334-03-006-504
UPID
US66-0083801
Jurisdiction
DELAWARE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$495,000
COMMERCIAL (GENERAL)
Est. value
$565,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Heating
YES
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
109 Commerce Park Drive LLC
Entity
Mailing address
5477 BAYSIDE RDG DR, GALENA, OH 43021-8551
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2024
$740,000
109 Commerce Park Drive LLC
Pacific Premier Bank
Limited Warranty Deed
$592,000 · Us Bank NA
Aug 16, 2023
$636,000
Pacific Premier Bank
Meritra Real Estate Holdings
Sheriffs Deed
related
—
Feb 7, 2023
—
Meritra Real Estate Holdings LLC
—
Deed
related
$523,093 · Hi Bar Capital LLC
Sep 12, 2022
—
Meritra Real Estate Holdings LLC
—
Deed
related
$1,100,000 · Ran I Lakhi
Dec 23, 2014
$650,000
Meritra Real Estate Holdings LLC
Castlewood LLC
Warranty Deed
$590,000 · Jpmorgan Chase Bank NA
—
—
Castlewood LLC
—
Deed Of Trust
related
$400,000 · First Bexley Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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