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Property profile & analytics

560 N Cleveland Ave Westerville, OH 43082

  • Office buildings
  • 19,840 SF
  • 0.25 lot acres
For Lease
Last Sale
May 09, 2024
$2,999,000
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US66-2555776
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

  • Dr. Joseph Wilcox / Orthopedic Surgeon
  • Beth Schroeder / Physical Therapist
  • Dr. Jason Ferrel / Orthopedic Surgeon / Practitioner Service Location
  • Kristine Cameron / Occupational Therapist
  • Amy Cruise / Occupational Therapist

Property Details for 560 N Cleveland Ave

Year built
2007
Lot size
0.25 lot acres
Property size
19,840 SF
Property type
Office buildings
APN
317-333-01-006-002
APU
31733301006002

Description

This exceptional 19,840 square foot medical office building, constructed in 2007, is situated at 560 N Cleveland Ave in Westerville, Ohio, 43082. The property boasts a convenient location just south of Polaris Parkway in the Westar/Medical Mile area, benefiting from high visibility and proximity to a significant concentration of medical professionals. Currently, there is 19,015 square feet of vacant space available, offering flexible options for tenants. Divisible spaces range from a minimum of 2,011 square feet to a maximum contiguous space of 9,938 square feet. The building features two stories, with 9,938 square feet available on the first floor and 9,077 square feet on the second floor. The building offers excellent parking with 80 spaces available for tenants and visitors. The property is ideal for medical practices seeking high-quality space in a thriving medical corridor. Building signage opportunities are available on Cleveland Avenue, providing excellent visibility for your business. The location benefits from the presence of 50 referring primary care physicians in the immediate vicinity, creating a strong referral network for potential tenants. This is a rare opportunity to secure prime medical office space in a highly desirable location.


Value Estimations

based on Realmo’s proprietary methodology
  • CAP approach

    CAP Return
    Estimation
    6%
    $4,345,000
    6.5%
    $4,010,000
    7%
    $3,720,000
  • Comparable approach

    Method
    Estimation
    Statistic Estimate
    $3,192,000
    Market price range: $1.76M - $3.19M
    AI Estimate
    $2,324,000
    Market price range: $596k - $2.46M
  • Alternative Use

    Use
    Estimation
    OFFICE BUILDING
    $2,540,000
    Current use
    COMMERCIAL (GENERAL)
    $3,920,000
    Change: +54% Conversion: Easy
    MEDICAL BUILDING
    $3,420,000
    Change: +35% Conversion: Easy
    AUTO REPAIR, GARAGE
    $2,910,000
    Change: +15% Conversion: Difficult
    WAREHOUSE, STORAGE
    $2,495,000
    Change: -2% Conversion: Difficult
    RETAIL STORES
    $2,295,000
    Change: -10% Conversion: Moderate

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


Location Insight

  • Map
  • Local Demand
City
Westerville
County
Delaware
State
Ohio
Longitude
-82.9462
Latitude
40.1407
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
$89,343
$28,980
$1,180,730
$1,209,710
-
$82,800
$3,373,500
$3,456,300
More about this property
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