Office Condo with Building
New
For Sale
$520,000
740 Lakeview Plaza Boulevard, Worthington, OH 43085
C-3 office space at a signalized Worthington intersection includes exterior signage on two sides.
Property Size3,155 SF
Price / SF$164.82
Days on Market2
Property Features for 740 Lakeview Plaza Boulevard
General Information
Standard status
Active
Size
3,155 SF
Class
C
Property subtype
Office
Zoning
C-3
Additional Details
Asking Price
$520,000
Property Use
Office
Building Details
Building Size
3,155 SF
Year Built
1990
Listing Agency:
Elford Realty, Inc
Listed By:
Jackie Delay · License #OH #SAL.2020000409
(216) 956-1739
Source:
Elfordrealty
Added: Nov 1
Last Checked: Nov 1 at 3:59PM
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 Elford Realty, Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Suite 100 is a 3,155-square-foot office condominium built in 1990. The unit is configured for professional office use and carries C-3 zoning. Exterior building signage is positioned on two sides, facing east and south, and the suite overlooks the signalized corner of Lakeview Plaza Boulevard and Sancus Boulevard in Worthington.
Recent work has been completed in the building’s exterior common areas. The property is offered as an office unit within a condominium arrangement.
Recent work has been completed in the building’s exterior common areas. The property is offered as an office unit within a condominium arrangement.
Key Highlights
- 3,155‑square‑foot office condominium in Suite 100
- C‑3 zoning for institutions and offices
- Exterior building signage faces east and south
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,222
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,440
$664.4K
Cap Rate 7%
$474,600
$474.6K
Cap Rate 9%
$369,133
$369.1K
Market Conditions
NOI Build-Up for 3,155 SF
Gross rent
$56.8K $18.00/SF
− Vacancy
−$12.5K −$3.96/SF
EGI
$44.3K $14.04/SF
− OpEx
−$11.1K −$3.51/SF
NOI
$33.2K $10.53/SF
Area
Richland County, OH
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,440
Cap Rate 7%
$474,600
Cap Rate 9%
$369,133
Alternative Uses
Best Use
Office B
$474.6K
$415.3K – $553.7K
NOI $33,222 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$634.7K
$555.4K – $740.5K
NOI $44,432 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,042
Businesses Nearby
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 Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - C-3 office space at a signalized Worthington intersection includes exterior signage on two sides.
Where is this office unit located?
The property is located at 740 Lakeview Plaza Boulevard Worthington, OH.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: 3,155‑square‑foot office condominium in Suite 100; C‑3 zoning for institutions and offices; Exterior building signage faces east and south
