1430-1570 Olentangy River Rd
Columbus, OH 43212
Lennox Station Retail Center · Retail Property For Sale

Lennox Station is a 12,242 square foot plaza, optimally located less than two minutes and two miles from The Ohio State University in Columbus, Ohio, attracting over 56,000 students to this retail hub. With 100% occupancy, the plaza has a diverse collection of targeted national and regional tenants, including: Anchor tenant - Starbucks, FedEx Kinkos, Vitamin Shoppe, Verizon Wireless, Tan Pro and Mattress Firm. All of the tenants that are present in the center are attractive to the college atmosphere and students in the immediate proximity. Due to the fact that the plaza is serviced by COTA (Central Ohio Transportation Authority), it is easily accessible to students and young adults in the surrounding area. Additionally, the plaza is conveniently located along Olentangy River Road, which runs parallel to State Route 315. Route 315 runs north and south and just minutes to the south of the property, the road connects with Highway 670, a major highway that passes through Downtown Columbus, connecting I-70 west of Downtown with I-270 and U.S. Route 62 near the eastern suburb of Gahanna. I-670 provides access to Port Columbus International Airport, and intersects State Route 315 and I-71 in Downtown Columbus. The property sits on an 85-year ground lease. Offered at $5,282,000, representing a 6.44% Cap Rate--an investor has an opportunity in today's market to purchase a relatively new center in a prime location with impeccable tenants. With stable tenancy, the tenants find the center to provide them with an ideal location for commercial activity in one of the busiest areas of Columbus, Ohio. The plaza boasts full occupancy with all tenants on Triple Net (NNN) Leases and all have separately metered utilities that they pay directly. With its newer construction (2006), the plaza has an inviting appearance, drawing many customers to one of the fastest growing coffee houses in the country (Starbucks) and Tan Pro, which is the #1 location out of the company's 30+ location. In relation to the subject property, Lennox Towne Center sits directly across from the the plaza, and is anchored by the #1 sales volume Target in Central Ohio and the #1 gross volume per screen cinema in Central Ohio. The center also benefits from the direct proximity to The Ohio State University, OSU Medical Center and Battelle, which has over 37,000 employees. The center is positioned in an economically strong and growing area with a heavy concentration of other national retailers within a 1-mile radius, making the plaza a destination point between the suburbs and the capital city of Columbus.