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Property profile & analytics
OFF-MARKET
Estimated value
$13,805,000
Office buildings
570 Polaris Pkwy Westerville, OH 43082-7900
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US66-1666929
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2002
Total area
150,641 SF
Lot
10.66 ac (464,350 SF)
APN
318-441-01-003-004
UPID
US66-1666929
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
-
DHL DDS Dental Office
-
Learning Circle Software (Bike/Boat/Book/etc) Store Corporate Office
-
Bankers Life Insurance Agency
-
Andrew Pleune, Bankers Life Agent and Bankers Life Securities Financial Representative Insurance Agency
-
Talon Title Agency Title Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.44M
Blend (final)
Blend
$13.81M
Owner & transaction history
Melrose Westar Holdings LLC · 3 yrs held
Melrose Westar Holdings LLC
since 2023
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$22.1M
+14.5%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$19,285,000
Current use
AUTO REPAIR, GARAGE
$22,085,000
Change: +15% · Conversion: Difficult
WAREHOUSE, STORAGE
$18,940,000
Change: -2% · Conversion: Difficult
RETAIL STORES
$17,420,000
Change: -10% · Conversion: Moderate
Blend value · Realmo final
$13.81M
Range $12.42M – $15.19M · ±10%
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
$92 / 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
$409,779
Tax year 2023
Assessed value
$5,054,570
Assessed 2023
Previous assessed
$4,550,000
+11.1% YoY
Effective rate
8.11%
On assessed value
Assessed land
$603,720
Assessed improvement
$4,450,850
Land market value
$1,724,900
Improvement market value
$12,716,700
Total market value
$14,441,600
Applied tax rate
49.0000
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
2002
Heating
YES
Cooling
YES
Stories
4
Total area
150,641 SF
Lot
10.66 ac (464,350 SF)
APN
318-441-01-003-004
UPID
US66-1666929
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
OFFICE BUILDING Current
Est. value
$19.3M
AUTO REPAIR, GARAGE
Est. value
$22.1M
WAREHOUSE, STORAGE
Est. value
$18.9M
RETAIL STORES
Est. value
$17.4M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
RETAIL STORES
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
4
Lot
10.66 ac
Current owner
From public records · entity-resolved
Melrose Westar Holdings LLC
Entity
Mailing address
570 POLARIS PKWY, WESTERVILLE, OH 43082-7900
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2023
—
Melrose Westar Holdings LLC
570 Polaris LLC
Limited Warranty Deed
$21,700,000 · Wells Fargo Bank NA
Aug 28, 2019
—
570 Polaris LLC
—
Loan Modification
related
$9,408,529 · Commonwealth Bk
Aug 19, 2013
$12,775,300
570 Polaris LLC
Cabot 570 Polaris Parkway LLC
Warranty Deed
related
—
—
—
Building Industry Assn Of Ctrl Oh
—
Deed Of Trust
related
$675,000 · Park National 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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