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9518539
9518537

600 Lakeview Plaza Blvd, Worthington, OH 43085

BK
OH 390306, OH 3227132
Alterra Real Estate Advisors
RC
OH 2022007391
Alterra Real Estate Advisors
JP
OH 2018005012
Alterra Real Estate Advisors
Listed by Alterra Real Estate Advisors
$5,950,000
116 days on market
Updated 30 days ago

600 Lakeview Plaza | Flex Space | Long-Term Tenants

Details
APN 100-005938-00
Property Type Office, Industrial
Sub Type Flex, Warehouse
Square Footage 50,418
Cap Rate 7.00%
NOI $416,190
Occupancy 78%
Tenancy Multi
Lease Type NNN
Broker Co-Op Yes
Class B
Year Built 1988
Buildings 1
Stories 2
Acreage 5.890
Zoning Industrial (I-1) in City of Worthington
Parking Spaces 220 spaces
Parking Per SqFt 4.36
Investment Type Value Add
Tenant Credit Credit Rated
Ground Lease No
Dock High Doors 2

Stabilized Flex Asset with Value-Add Upside | National-Grade Tenancy & Long-Term Leases in Place

Marketing description

Lakeview Tech Center presents an opportunity to acquire a stabilized investment property with upside and a diversified and complementary tenant roster including Eaton Corporation plc, Holaday-Parks Inc., Beacon Specialized Living, and Elevator Services Inc. dba Moseley Elevator. The tenancy is anchored by Eaton, an investment-grade, global leader in power management, and complemented by a strong mix of regional operators across precision manufacturing, healthcare services, and essential building infrastructure.

The tenant base consists of service-driven businesses with stable demand supported by long-term trends like electrification and infrastructure maintenance. Many tenants have recurring revenue streams or specialized operations that support consistent occupancy, and some benefit from private equity backing, enhancing financial stability and growth.

In addition to the in-place income, the property offers a value-add component through existing vacancy and below-market rents, providing investors with the opportunity to increase cash flow and overall returns through lease-up and mark-to-market adjustments. This upside, combined with a diversified and stable tenant base, positions the asset to deliver both secure current income and future growth potential.

Investment highlights

  • Prominent building signage with visibility from 1-270.
  • Diesel back up generator serving Suite F/G.
  • Convenient access to 1-270, 1-71, and SR 23.
  • Partially climate-controlled warehouse space.
  • Situated within Worthington's Tech District and zoned Limited Industrial.
  • Sprinklered throughout.
  • Heavy parking ratio of 4/1000-220 surface parking spaces.
  • Recently updated HVAC units.
  • Partial roof replacement and in place warranty.
  • Parking lot seal coated, with repairs completed in 2025.
  • Recently updated Tenant spaces.

Listing Contacts

BK
OH 390306, OH 3227132
Alterra Real Estate Advisors
RC
OH 2022007391
Alterra Real Estate Advisors
JP
OH 2018005012
Alterra Real Estate Advisors
Listed by Alterra Real Estate Advisors

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$416,190.00
$34,682.50/mo

Valuation Metrics

0
DSCR
6.99%
Cap Rate
6.99%
ROI

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Additional Information

Name
Bradford Kitchen
License
390306
Name
Richard Conie
License
2022007391
Brokerage
Alterra Real Estate Advisors
Title
Sales and Leasing Agent
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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