Entity Owned 
For Lease
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550 Polaris Pkwy, Westerville, OH 43082
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Property summary
AI-generated overview
Westar II at 550 Polaris Parkway is an office property located in the Polaris area of Columbus, Ohio, with convenient access to Interstates 71 and 270. The site is positioned near Polaris Fashion Place and other local amenities. The building contains approximately 30,000 square feet of office space and is configured for office use. The property may offer building signage opportunities, subject to applicable rules and approvals.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Total area
150,641 SF
Lot
10.86 ac (472,887 SF)
APN
318-441-01-003-005
UPID
US66-6108296
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Real Estate Agency
-
Real Estate Agency
-
Construction Company General Contractor
-
Real Estate Agency
-
Real Estate Agency
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.18M
Owner & transaction history
since 2025
Last sale
$3.0M
5 recorded transactions
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$14.18M
Value range
$12.76M – $15.60M
±10% around blend
Estimated value / SF
$94 / SF
Confidence
Property data
88
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$12.76M
blend $14.18M
$15.60M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
150,641 SF
Lot area
10.86 ac
Year built
2003
Stories
4
APN
318-441-01-003-005
Assessed value
$5,083,610
Annual tax
$412,133
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$412,133
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$14.18M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 31 sales
$128
-26%
Submarket 73 sales
$128
-26%
County 144 sales
$119
-21%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $94/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$49.23M
Move the market yield to see immediate price impact.
Value / SF
$327
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$3.10M
$62.03M
$44.30M
$34.46M
$3.45M
$68.92M
$49.23M
$38.29M
$3.79M
$75.81M
$54.15M
$42.12M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$412,133
Tax year 2023
Assessed value
$5,083,610
Assessed 2023
Previous assessed
$4,550,010
+11.7% YoY
Effective rate
8.11%
On assessed value
Assessed land
$646,730
Assessed improvement
$4,436,880
Land market value
$1,847,800
Improvement market value
$12,676,800
Total market value
$14,524,600
Applied tax rate
49.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2003
Heating
YES
Cooling
YES
Stories
4
Total area
150,641 SF
Lot
10.86 ac (472,887 SF)
APN
318-441-01-003-005
UPID
US66-6108296
Jurisdiction
DELAWARE
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Building & site characteristics
From public records
Year built
2003
Heating
YES
Cooling
Yes
Stories
4
Lot
10.86 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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