560 Cleveland AveWesterville, OH 43082

  • Office properties
  • 19,840 SF
For Lease
$16.50/SF/YR View listing

Property Details for 560 Cleveland Ave

Year built
2007
Lot size
0.25 AC
Property size (Sq ft)
19,840 SF
Property type
Office properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,736,877
    6.5%
    $3,449,425
    7%
    $3,203,037
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,855,834
    Geo Method
    $1,855,834
  • Alternative Use

    Use
    Valuation
    Residential
    $4,277,287
    Hospitality
    $3,917,972
    Educational
    $3,259,706
    Medical
    $3,371,813
    Retail
    $5,070,654
560 Cleveland Ave, Westerville, Ohio

Location Insight

City
Westerville
County
Delaware
State
Ohio
Latitude
40.1407
Longitude
-82.9462
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

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