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111 Commerce Park Dr
Westerville, OH 43082
Office Property For Sale
Investment Highlights
- Priced Below Replacement Cost: At $946,242 ($264.68/SF), investors or owner-users can acquire a well-maintained, stabilized brick office building at a
- Premier Regional Medical Hub: Westerville is a recognized healthcare epicenter for the region, anchored by major institutional facilities like Mount C
- Compelling Initial Returns: With a steady In-Place Net Operating Income (NOI) of $64,726, the asset delivers a robust 6.84% capitalization rate out of
- Zero Vacancy Submarket: The immediate professional and medical office submarket features effectively zero vacancy. This underscores the intense local
- Highly Educated & Affluent Demographics: The asset is supported by an exceptionally strong consumer base. Within a 3-mile radius, the Average Househol
- Fully Leased, Low-Management Asset: The 3,575 SF building is currently 100% occupied by two reliable tenants, providing immediate, predictable cash fl
Executive Summary
Graystone Capital Advisors presents 111 Commerce Park Drive in Westerville, OH — a two-unit multi-tenant office building in the Commerce Village Condominium Association. Suite A (~2,300 SF, ~two-thirds of the building) is leased to Park Dental Westerville, LLC through a 60-month term, November 2023–October 2028. Suite B (~1,275 SF) houses an insurance agency. The property offers stable in-place income and long-term commitment from a healthcare operator in Delaware County, Ohio.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Medical
Building Size
3,575 SF
Building Class
C
Year Built
2003
Price
$1,309,116 CAD
Price Per SF
$366.19 CAD
Cap Rate
6.84%
NOI
$89,548 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
3,575 SF
Building FAR
0.04
Lot Size
1.84 AC
Zoning
PO - Planned Office District
Parking
20 Spaces (5.59 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 317-334-03-006-509 | Improvements Assessment | $146,041 CAD |
| Land Assessment | $42,667 CAD | Total Assessment | $188,708 CAD |
Property Taxes
Parcel Number
317-334-03-006-509
Land Assessment
$42,667 CAD
Improvements Assessment
$146,041 CAD
Total Assessment
$188,708 CAD
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