Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    701-719 Brooksedge Plaza Dr Westerville, OH 43081

    • Office buildings
    • 49,129 SF
    • 5.49 lot acres
    For Lease
    View listing
    $11 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2213335
    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

    • Office buildings

    Property Details for 701-719 Brooksedge Plaza Dr

    Year built
    1987
    Lot size
    5.49 lot acres
    Property size
    49,129 SF
    Property type
    Office buildings
    APN
    080-009468
    APU
    80009468

    Description

    This exceptional office building, located at 701-719 Brooksedge Plaza Drive in Westerville, Ohio, presents a unique opportunity for businesses seeking flexible and adaptable space. The 49,129 square foot building, constructed in 1987 and classified as Class B, offers a variety of configurations to suit diverse needs. Currently, 45,726 square feet are vacant, divisible into spaces as small as 5,921 square feet, with a maximum contiguous space of 45,726 square feet. The property sits on a generous 5.5-acre lot and provides ample parking with 7 total spaces. The building's versatile design allows for conversion to flex or lab space, catering to a wide range of potential tenants. Its open layout offers significant design flexibility. The property benefits from excellent accessibility, with convenient access to I-270 via both Cleveland Avenue and State Street. Building and monument signage opportunities are available, enhancing visibility and brand presence. On-site property management ensures efficient building operations. Tenants are responsible for their own utilities and janitorial services, providing cost control and operational flexibility. This is a single-tenant building opportunity, ideal for a company seeking a prominent location and substantial space in a thriving Westerville community. The property's zip code is 43081.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,141,000
      Market price range: $3.29M - $7.84M
      AI Estimate
      $4,444,000
      Market price range: $3.56M - $9.09M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $6,090,000
      Current use
      AUTO REPAIR, GARAGE
      $8,100,000
      Change: +33% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $8,060,000
      Change: +32% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $7,120,000
      Change: +17% Conversion: Easy
      RETAIL STORES
      $6,140,000
      Change: +1% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $4,930,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Westerville
    County
    Franklin
    State
    Ohio
    Longitude
    -82.9342
    Latitude
    40.1081
    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
    $86,659
    $248,680
    $806,230
    $1,054,910
    -
    $710,500
    $2,303,500
    $3,014,000

    Comparable in this City

    • Value Estimation
      $600,000
      3,996 SF

      124 Dorchester S Sq

      OFFICE BUILDING • 3,996 SF
      124 Dorchester S Sq, Westerville, OH 43081-7302
      View Details
    • Value Estimation by Request
      3,036 SF

      483 Dempsey Rd

      OFFICE BUILDING • 3,036 SF
      483 Dempsey Rd, Westerville, OH 43081-8978
      View Details
    • Value Estimation
      $8,255,000
      82,092 SF

      4111 Executive Pkwy

      OFFICE BUILDING (MULTI-STORY) • 82,092 SF
      4111 Executive Pkwy, Westerville, OH 43081-3869
      View Details
    • Value Estimation
      $1,865,000
      1,344 SF

      5541 Westerville Rd

      OFFICE BUILDING • 1,344 SF
      5541 Westerville Rd, Columbus, OH 43081-9367
      View Details
    • Value Estimation
      $615,000
      7,040 SF

      519 Otterbein Ave

      OFFICE BUILDING • 7,040 SF
      519 Otterbein Ave, Westerville, OH 43081-2953
      View Details
    • Value Estimation
      $5,050,000
      41,356 SF

      235 Schrock Rd, Unit 241

      OFFICE BUILDING • 41,356 SF
      235 Schrock Rd, Westerville, OH 43081
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,122 SF

      Eastwind Professional Building Office Suites

      Single-story office building with suites available in Westerville, Ohio.
      863-885 Eastwind Dr, Westerville, OH 43081
      View Details
    • Contact for pricing
      13,122 SF

      Eastwind Professional Building Office Suites

      Single-story office building with suites available in Westerville, Ohio.
      863-885 Eastwind Dr, Westerville, OH 43081
      View Details
    • $6,200,000
      60,133 SF

      Westerville Office Building For Sale

      Corporate HQ quality office building with move-in ready suites.
      501 W Schrock Rd, Westerville, OH 43081
      View Details
    • Contact for pricing
      9,600 SF

      Westerville Office Building Near Hospital

      9,600 SF office building with suite available near St. Ann's.
      137-151 W Schrock Rd, Westerville, OH 43081
      View Details
    • Contact for pricing
      162,490 SF

      Westerville Multi-Building Office Campus

      Multi-building office campus in Westerville, Ohio, totaling 162,490 square feet.
      340-350 N Cleveland Ave, Westerville, OH 43081
      View Details
    • Contact for pricing
      7.50 Acres

      Westerville Land: 7.5 Acres

      Prime Westerville development land near Otterbein University.
      0 Cooper Rd, Westerville, OH 43081
      View Details

    Similar Nearby for Lease

    • $29 SF/Yr
      1,100 SF

      Westerville Office Space for Lease

      Move-in ready office space in Westerville's thriving commercial corridor.
      269 S State St, Westerville, OH 43081
      View Details
    • Contact for pricing
      100,800 SF

      Westerville Office Building on Campus

      100,800 SF building on 9.869-acre campus available for lease.
      220 W Schrock Rd, Westerville, OH 43081
      View Details
    • $12 SF/Yr
      15,873 SF

      Westerville Office Space For Rent

      Office space with excellent highway access and signage opportunities.
      259-291 Schrock Rd, Westerville, OH 43081
      View Details
    • $8 SF/Yr
      10,005 SF

      Spectrum Commerce Center: Westerville Office/Warehouse

      Westerville Office & Warehouse Space Available
      921-929 Eastwind Dr, Westerville, OH 43081
      View Details
    • $19 SF/Yr
      26,807 SF

      Office Space in Hamilton Quarter

      New office space in a mixed-use development.
      4960 E Dublin Granville Rd, Westerville, OH 43081
      View Details
    • $0.02 SF/Yr
      11,848 SF

      Prime Westerville Executive Office Space

      11,848 SF Office, 50 Parking Spaces
      283 State St, Westerville, OH 43081
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    701-719 Brooksedge Plaza Dr
    Westerville, OH 43081
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.