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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Office buildings
56 Dorchester N Sq, Westerville, OH 43081-7306
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US66-2577257
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Construction
WOOD
Total area
4,176 SF
Lot
0.26 ac (11,282 SF)
APN
080-008921
UPID
US66-2577257
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
-
Michael Propst - The Vernon Co. Marketing & Advertising
-
Merit Advisors LLC Financial Advisor
-
Siegel Siegel Johnson & N Law Firm
-
Sam Chapman Insurance Agency Inc Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$390k
CAP Approach
CAP
$845k
Comparable Approach
Comparable
$546k
Blend (final)
Blend
$615k
Owner & transaction history
56 Dorchester LLC · 5 yrs held
56 Dorchester LLC
since 2020
Last sale
$665,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$720,000
+39.1%
Auto repair, garage
$690,000
+33.0%
Neighborhood: shopping center
$685,000
+32.4%
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
by Request
ML approach
$390,000
CAP Approach
CAP Return
Estimation
6%
$915,000
6.5%
$845,000
7%
$785,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$520,000
Current use
MEDICAL BUILDING
$720,000
Change: +39% · Conversion: Easy
AUTO REPAIR, GARAGE
$690,000
Change: +33% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$685,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$520,000
Change: +1% · Conversion: Moderate
COMMERCIAL (GENERAL)
$420,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$615k
Range $554k – $677k · ±10% · vs last sale $665k (Jul 28 2025)
Last sale anchor
$665k
Jul 28 2025
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
$147 / 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
$11,420
Tax year 2023
Assessed value
$139,020
Assessed 2023
Previous assessed
$107,810
+28.9% YoY
Effective rate
8.21%
On assessed value
Assessed land
$31,710
Assessed improvement
$107,310
Land market value
$90,600
Improvement market value
$306,600
Total market value
$397,200
Applied tax rate
80.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1984
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
4,176 SF
Lot
0.26 ac (11,282 SF)
APN
080-008921
UPID
US66-2577257
Jurisdiction
FRANKLIN
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
OFFICE BUILDING Current
Est. value
$520,000
MEDICAL BUILDING
Est. value
$720,000
AUTO REPAIR, GARAGE
Est. value
$690,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$685,000
RETAIL STORES
Est. value
$520,000
COMMERCIAL (GENERAL)
Est. value
$420,000
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1984
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Buildings
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
56 Dorchester LLC
Entity
Mailing address
56 DORCHESTER SQ N, WESTERVILLE, OH 43081-7306
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2020
—
56 Dorchester LLC
56 Dorchester Square LLC
Quit Claim Deed
$372,000 · Robert B & Marian K Schuda
Jul 8, 2016
$292,200
56 Dorchester Square LLC
J & D Realty Ltd
Warranty Deed
$259,250 · First City Bank
—
—
J & D Realty Ltd
—
Deed Of Trust
related
$110,000 · Bank Of America Fsb
—
—
J & D Realty Ltd
—
Deed Of Trust
related
—
—
—
J & D Realty Ltd
—
Deed Of Trust
related
$235,000 · Cf 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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