250 Progressive WayWesterville, OH 43082

Property Details for 250 Progressive Way

Year built

2000

Lot size

5.75 AC

Property size (Sq ft)

105,087 SF

Property type

Office properties

Property subtype

Office buildings

APN

317-343-02-006-003

APU

31734302006003

Description

This exceptional Class A office building, located at 250 Progressive Way in Westerville, Ohio, offers 114,761 square feet of versatile space, currently available as a single tenant occupancy. Built in 2001 (with a 2004 expansion and 2005 atrium addition), the property boasts a striking four-story design (two-story East wing, four-story West wing) connected by a dramatic three-story vaulted glass atrium. The building sits on a generous 9.57-acre lot and includes 539 parking spaces, catering to a large workforce. The flexible floor plates, averaging approximately 16,000 square feet, are suitable for a wide range of uses, including traditional office, creative office, medical office, and executive office spaces. High ceilings within the atrium make it particularly attractive to tenants with specialized needs, such as those in the lab, tech, or health/life science sectors. Its convenient location near Polaris Fashion Place provides easy access to numerous hotels, restaurants, and retail amenities. Furthermore, its proximity (a 12-mile, 20-minute drive) to Intel's significant chip manufacturing project adds significant long-term value. The property is zoned I - Innovation, reflecting its suitability for forward-thinking businesses. The minimum divisible space is 59,884 square feet, with a maximum contiguous space of 114,761 square feet. This presents a unique opportunity for a single large tenant or the potential for division into multiple smaller spaces. The building features elevators and is situated in Delaware County, Ohio, with a zip code of 43082.

• CAP approach

  CAP return

  Valuation

  6%

  $19,793,204

  6.5%

  $18,270,650

  7%

  $16,965,604

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,829,838

  Geo Method

  $9,829,838

• Alternative Use

  Use

  Valuation

  Residential

  $22,655,606

  Hospitality

  $20,752,414

  Educational

  $17,265,764

  Medical

  $17,859,560

  Retail

  $26,857,856

Location Insight

City

Westerville

County

Delaware

State

Ohio

Latitude

40.1396

Longitude

-82.9224

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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