Westerville, OH
Commercial Real Estate Market Trends & Data

$210 Avg asking sale price
$17 Avg asking lease rate
24,433 SF Avg unit lease size
33,663 SF Avg building size for sale
8.00% Average cap rate

Westerville's Demographic Profile

Westerville has 15,089 households and a median income of $99,985, providing context for rent absorption and tenant demand across retail and multifamily assets. A +3% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 38,737
# Households 15,089
Median age 43
Median household income $99,985
Avg household size 2.0
Renter-occupied housing units 3,863
5-year population change +3%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Westerville, OH

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Westerville $176 40,563 SF 8.00%
Lewis Center $202 16,223 SF 8.00%
Nearby Retail Markets Avg Cost/SF Typical Size
Lewis Center $177 7,325 SF
New Albany $270 8,800 SF
Worthington $471 8,249 SF
Gahanna $270 10,200 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Columbus $181 22,785 SF 7.48%
Delaware $77 9,086 SF 6.74%

Commercial Properties For Sale in Westerville

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

555 W Schrock Rd

Westerville, OH 43081

  • 3,240 SF Office Building
  • $595,000
For Sale

Cooper Road Medical Bldg suite 300

Westerville, OH 43081

  • 17,102 SF Office Building
  • $459,700
For Sale

805 Hillsdowne Rd

Westerville, OH 43081

  • 6,256 SF Office Building
  • $849,500
For Sale

2750 Lauffer Ravines Drive

Columbus, OH 43231

  • 1.66 AC Lot
  • 1 Commercial Lot
  • $399,900
For Sale

0 Sancus Boulevard

Westerville, OH 43081

  • 3.49 AC Lot
  • 1 Commercial Lot
  • $1,995,000
For Sale

Bldg 2

Columbus, OH 43240

  • 54,188 SF Office Building
  • 8.00% Cap Rate
  • $8,695,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Westerville pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Westerville $210 33,663 SF
Lewis Center $329 15,211 SF
New Albany $366 45,529 SF
Worthington $379 54,407 SF

Regional Demographic Comparison

This comparison places Westerville alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Westerville or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Westerville 38,737 15,089 43 $99,985 2 3,863 3%
Galena 1,426 462 39 $115,719 3 39 18%
Lewis Center 37,891 12,638 37 $136,755 3 2,750 13%
Worthington 14,066 5,586 44 $117,017 2 1,072 -1%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Westerville, OH and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Westerville

View All Commercial Real Estate For Sale in Westerville
Is Westerville a good market for a first-time commercial real estate investor?

Westerville offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Westerville?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Westerville. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Westerville?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Westerville. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Westerville compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Westerville. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Westerville acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Westerville, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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