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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    640 Enterprise Dr Lewis Center, OH 43035-9440

    • Office buildings
    • 5,382 SF
    • 1.37 lot acres
    OFF-MARKET
    Last Sale
    May 22, 2025
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0417004
    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

    • Julianne M. Renz, PT / Physician
    • Pediatric Therapy Partners / Physician
    • Harris, Burnett, Arend & Schmiesing CPAs / Accounting Firm / Tax Preparation
    • Sarah Dufour / Physician

    Property Details for 640 Enterprise Dr

    Year built
    1987
    Lot size
    1.37 lot acres
    Property size
    5,382 SF
    Property type
    Office buildings
    APN
    318-342-01-002-000
    APU
    31834201002000

    Description

    This exceptional investment opportunity presents a fully leased, multi-tenant office and warehouse complex situated on a 2.78-acre lot in Lewis Center, Ohio. The property boasts 15,092 square feet of gross building area, spread across four buildings, constructed in 1987. Currently operating at 100% occupancy under a net lease, this property offers a compelling 7.30% cap rate and an asking price of $2,195,000. Conveniently located minutes from Polaris, the property benefits from easy access to major highways including I-71, I-270, and I-70, providing excellent accessibility for tenants and employees. Ample parking is available, with 8.15 spaces per 1,000 square feet, catering to both staff and clients. The property features attractive, well-maintained buildings and includes desirable amenities such as an exterior seating area, a conference room, and private restrooms within the suites. The property's location offers proximity to a wealth of restaurants, retail, and service amenities. Delaware County Parcel numbers are 31834201003000 and 31834201002000. This is a rare opportunity to acquire a well-positioned, high-performing commercial property with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $640,000
      Market price range: $432k - $894k
      AI Estimate
      $530,000
      Market price range: $214k - $732k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $585,000
      Current use
      AUTO REPAIR, GARAGE
      $790,000
      Change: +34% Conversion: Difficult
      WAREHOUSE, STORAGE
      $675,000
      Change: +15% Conversion: Difficult
      RETAIL STORES
      $620,000
      Change: +6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewis Center
    County
    Delaware
    State
    Ohio
    Longitude
    -83.0101
    Latitude
    40.1554
    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
    $13,571
    $50,370
    $126,180
    $176,550
    -
    $143,900
    $360,500
    $504,400

    Comparable in this City

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      110,842 SF

      7787 Graphics Way

      OFFICE BUILDING • 110,842 SF
      7787 Graphics Way, Lewis Center, OH 43035-8000
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    • Value Estimation
      $1,090,000
      7,146 SF

      428 Epic Dr

      OFFICE BUILDING • 7,146 SF
      428 Epic Dr, Lewis Center, OH 43035-7859
      View Details
    • Value Estimation
      $25,690,000
      240,300 SF

      7115 Grn Mdws Dr

      OFFICE BUILDING • 240,300 SF
      7115 Grn Mdws Dr, Lewis Center, OH 43035-9445
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      631 Bear Run Ln

      OFFICE BUILDING • 2,946 SF
      631 Bear Run Ln, Lewis Center, OH 43035-7133
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    • Value Estimation by Request
      1,776 SF

      630 Bear Run Ln

      OFFICE BUILDING • 1,776 SF
      630 Bear Run Ln, Lewis Center, OH 43035-8299
      View Details

    Similar Nearby for Sale

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      Mixed-Use Commercial Building Investment

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    • $4,795,000
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      Lewis Center Climate-Controlled Industrial Building

      Versatile 37,500 SF industrial building with office and warehouse space.
      535 Enterprise Dr, Lewis Center, OH 43035
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      Lewis Center Warehouse/Production Facility

      84,000 SF warehouse/production facility with office space available for sale.
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      12,432 SF

      Versatile Industrial Building with Office Space

      4,137 SF building on 1.53 acres with functional layout.
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    Similar Nearby for Lease

    • $15 SF/Yr
      41,818 SF

      Office and Flex Space Available

      Two-story office building with flex space in Lewis Center.
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    • $204 SF/Yr
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      View Details
    • $10 SF/Yr
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      Polaris Flex Space For Rent

      Flex space near I-71 and Route 23 available for rent.
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    • Contact for pricing
      14,400 SF

      Expandable Warehouse with Office Space

      Warehouse with office space in a prime north end location.
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      Lewis Center Climate-Controlled Industrial Building

      Versatile 37,500 SF industrial building with office and warehouse space.
      535 Enterprise Dr, Lewis Center, OH 43035
      View Details
    • $11 SF/Yr
      1,365 SF

      Office Space Near Polaris

      Office space for rent near Polaris with ample parking.
      640-676 Enterprise Dr, Lewis Center, OH 43035
      View Details
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    640 Enterprise Dr
    Lewis Center, OH 43035-9440
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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