Description

Oak Street Health is a fully occupied healthcare property for sale at 1500 Lockbourne Road in Columbus, OH. The 10,722 SF building houses a primary care clinic, giving investors an occupied medical asset with an established operating use and in-place income.

Built in 1996 and renovated in 2024, the freestanding building sits on 0.88 acres with 38 parking spaces and a parking ratio of 3.54 per 1000 SF. Oak Street Health, a wholly owned subsidiary of CVS Health, operates the clinic. Its net lease and 5.5 years of remaining term give a buyer a defined income period, while the remaining renewal option extends the tenant’s opportunity to stay. The site’s parking supports the clinic’s day-to-day patient access.

In the Columbus submarket, the Property occupies a signalized corner at Lockbourne Road and Frebis Avenue on the city’s South Side. Lockbourne Road carries 11,480 vehicles per day, and downtown Columbus is 3.5 miles away. The corner position makes the clinic identifiable along its corridor, while proximity to downtown places it within reach of a broader Columbus audience. Nationwide Children’s Hospital is among the area’s healthcare anchors, reinforcing the Property’s medical setting.

The asking price is $2,700,000, or $251.82 PSF, with a 7.15% in-place cap rate and $192,996 in-place NOI. In-place rent is $18 per square foot, and the lease calls for an increase to $19.00 per square foot in 2027. For a healthcare investor, the purchase centers on current income from an occupied clinic, the remaining lease term, and the tenant’s continued use of this corner location. Review the Offering Memorandum for the transaction details.