600 Lakeview Plaza BlvdWorthington, OH 43085

Property Details for 600 Lakeview Plaza Blvd

Year built

1988

Lot size

5.90 AC

Property size (Sq ft)

50,418 SF

Property type

Office properties

Property subtype

Office buildings

APN

100-005938

APU

100005938

Description

This exceptional 50,418-square-foot office-warehouse property presents a compelling investment or owner-occupant opportunity in Worthington, Ohio. Situated on a 5.89-acre lot, this two-story brick building boasts 220 parking spaces and prominent freeway signage visible from I-270, benefiting from an average vehicle passing daily exceeding 163,950. Built in 1998, the Class B property features a mix of high-end office space and warehouse area, including loading docks and drive-in doors. Recent improvements include a new roof and parking lot. The building is equipped with a backup generator and a sprinkler system. Currently 50% occupied, this multi-tenant property offers a value-add opportunity due to below-market rents. The property is zoned Industrial (I-1) within the City of Worthington and has a Franklin County parcel number 100-005938-00. The building offers 47,530 rentable square feet and benefits from long-term credit tenants. An 8% cap rate makes this a strong investment prospect. This property is a dynamic asset in a prime Columbus suburban location.

• CAP approach

  CAP return

  Valuation

  6%

  $6,854,352

  6.5%

  $6,327,094

  7%

  $5,875,159

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,716,100

  Geo Method

  $4,716,100

• Alternative Use

  Use

  Valuation

  Residential

  $7,845,597

  Hospitality

  $7,186,525

  Educational

  $5,979,104

  Medical

  $6,184,735

  Retail

  $9,300,829

Location Insight

City

Worthington

County

Franklin

State

Ohio

Latitude

40.1143

Longitude

-83.001

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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