785 State StWesterville, OH 43081

Property Details for 785 State St

Year built

1970

Lot size

0.36 AC

Property size (Sq ft)

9,600 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

080-004340

APU

80004340

Description

This Westerville, Ohio office space, located at 785 S State Street, offers 950 to 4,800 contiguous square feet in a 9,600 square foot building. The property, built in 1970, is a two-story Class B building situated on a 0.36-acre lot and zoned for office/retail use. The space boasts freshly painted walls and new carpeting. Tenants are responsible for their own internet and janitorial services. Utilities include electric and gas. Ample parking is available with 20 spaces. The building features an 8-foot ceiling height, but lacks elevators. This prime location offers excellent visibility on State Street, close proximity to restaurants and city amenities, and convenient highway access, only 0.10 miles from I-270. The minimum divisible space is 950 square feet, with a maximum contiguous space of 4,800 square feet. The APN is 080-004340. One space is currently available for lease at $1,200 per month (gross).

• CAP approach

  CAP return

  Valuation

  6%

  $1,808,166

  6.5%

  $1,669,076

  7%

  $1,549,857

• Comparable approach

  Method

  Valuation

  Relative Method

  $897,984

  Geo Method

  $897,984

• Alternative Use

  Use

  Valuation

  Residential

  $2,069,655

  Hospitality

  $1,895,793

  Educational

  $1,577,277

  Medical

  $1,631,522

  Retail

  $2,453,542

Location Insight

City

Westerville

County

Franklin

State

Ohio

Latitude

40.1067

Longitude

-82.9254

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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