Limited Industrial Flex
For Sale
Contact for pricing
Pending
600 Lakeview Plz Blvd, Columbus, OH 43085
Partially climate-controlled, sprinklered flex warehouse with prominent signage visibility from I-270.
Property Size50,418 SF
Days on Market139
Property Features for 600 Lakeview Plz Blvd
General Information
Standard status
Pending
Size
50,418 SF
Total Parking Spaces
220
Property subtype
OFFICE
Zoning
Limited Industrial
Additional Details
Highway Access
Yes
Sprinkler System
Yes
Amenities
building signage
diesel backup generator
partially climate-controlled warehouse
recently updated HVAC units
Listing Agency:
Alterra Real Estate Advisors
(380) 204-7784
Listed By:
Richard Conie · License #2022007391
(614) 545-4099
Source:
Moodyscre
Added: Apr 28
Changed: Sep 9
Last Checked: Sep 13 at 7:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Alterra Real Estate Advisors
Investment Insights
Based on property information with market context.
This limited industrial flex warehouse offers partially climate-controlled warehouse space and sprinkler service throughout. The building also features a diesel back-up generator serving Suite F/G, updated HVAC units, and recently updated tenant spaces. Roof work includes a partial roof replacement with an in-place warranty, and parking lot sealcoating and repairs were completed in 2025.
Prominent building signage provides visibility from I-270. The property is situated within Worthington’s Tech District and offers convenient access to I-270, I-71, and SR 23. Parking is extensive, with a heavy parking ratio of 4/1000 supporting up to 220 surface parking spaces.
With its Limited Industrial zoning and flexible warehouse/office layout, the property is designed to support a range of light industrial and service-oriented uses.
Prominent building signage provides visibility from I-270. The property is situated within Worthington’s Tech District and offers convenient access to I-270, I-71, and SR 23. Parking is extensive, with a heavy parking ratio of 4/1000 supporting up to 220 surface parking spaces.
With its Limited Industrial zoning and flexible warehouse/office layout, the property is designed to support a range of light industrial and service-oriented uses.
Key Highlights
- Prominent building signage with visibility from I‑270
- Partially climate‑controlled, sprinklered flex warehouse space
- Diesel backup generator serving Suite F/G
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$501,014
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,020,280
$10.0M
Cap Rate 7%
$7,157,343
$7.2M
Cap Rate 9%
$5,566,822
$5.6M
Market Conditions
NOI Build-Up for 50,418 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$847.0K $16.80/SF
− Vacancy
−$76.2K −$1.51/SF
EGI
$770.8K $15.29/SF
− OpEx
−$269.8K −$5.35/SF
NOI
$501.0K $9.94/SF
Area
Columbus, OH
Vacancy
9.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,020,280
Cap Rate 7%
$7,157,343
Cap Rate 9%
$5,566,822
Alternative Uses
Best Use
Flex RnD
$7.16M
$6.26M – $8.35M
NOI $501,014 @ 7.0% cap · market cap 8.42%
Second Best
Warehouse
$3.46M
$3.03M – $4.03M
NOI $242,079 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$10.51M
$9.19M – $12.26M
NOI $735,516 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,178
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43085, OH
25,566
Population
10,961
Households
2.3
Avg Household Size
39
Median Age
62%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
3,502
Density / Sq Mi
$112,474
Median Household Income
$63,239
Median Earnings
$1,405
Median Rent
$373,300
Median Home Value
Market
Vacancy Rate% for Industrial in Columbus, OH
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Gourmet Fresh Catering — 651 Lakeview Plaza Blvd Suite C, Worthington, OH 43085
Frequently Asked Questions
What type of property is this?
Flex space - Partially climate-controlled, sprinklered flex warehouse with prominent signage visibility from I-270.
Where is this flex space located?
The property is located at 600 Lakeview Plz Blvd Columbus, OH.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Prominent building signage with visibility from I‑270; Partially climate‑controlled, sprinklered flex warehouse space; Diesel backup generator serving Suite F/G
