Catylist ID:
#30867702
| Catylist Listing ID: | 30867702 |
| Property Subtypes: | Office Building |
| Building Size (RSF): | 75,420 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 5.45 Acres |
| Sale Price: | $13,800,000 |
| Unit Price: | $182.98 PSF |
| Property Use Type: | Investment |
| Class of Space: | Class A |
| Sale Terms: | Undisclosed |
| Cap Rate: | 6.8% |
| Average Occupancy Rate: | 96 |
| Last Updated: | 4/19/2024 |
Overview / Comments
|
THE OFFERING The property is a well built and attractive 75,000 square foot Class A Building of three stories in the best location in Hamburg. Over 96% leased, the building has a number of national and high credit quality tenants including Assured Partners, Mutual of Omaha, Kort, Stockyards Bank along with prestigious local firms. The building is professionally managed with ample on site parking. This is the premier location in Hamburg as it is on the corner of Man of War and Alysheba with great access to Interstates 75 and 64 at a major signalized intersection. Located directly next to Hamburg Place, home to extensive dining and shopping venues. The property is easy to find and with a corner location, excellent monument signage and quality construction, this building is the highest quality address for office space in the fast growing Hamburg area. ZONED P-1 FOR PROFESSIONAL OFFICES The subject asset is zoned P-1 for professional offices. With 96% of the property currently under lease, this is an excellent investment opportunity. Tenants include Mutual of Omaha, Stock Yard Bank, KORT Physical Therapy and several wealth managEment, real estate and insurance tenants. LOCATION PROVIDES EASY ACCESS TO INTERSTATE, BANKING, RETAIL The surrounding area is perfectly suited for office use. The property is bounded by interstates 75/64, and is part of the Hamburg neighborhood, an area with plentiful retail shopping, banking, restaurants and more. LEXINGTON'S STRONG ECONOMY Strong demographics in the market with extremely low unemployment, above average salaries and a high level of college graduates in Lexington, KY. Major employers in the Hamburg area including brand new Baptist Healthcare facility and UK Healthcare announcing its new facility. |
Additional Details
| Nearest MSA: | Lexington-Fayette |
| County: | Fayette |
| Tax ID/APN: | 38089140 |
| Zoning: | P-1 - PROFESSIONAL OFFICE |
| Total Number of Buildings: | 1 |
| Number of Stories: | 3 |
| Typical SF / Floor: | 25,140 SF |
| Year Built: | 2003 |
| Total Parking Spaces: | 302 |
| Sprinklers: | Wet |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 10,955 | 68,884 | 179,767 |
| Median Age: | 34.48 | 35.18 | 35.01 |
| Households: | 5,113 | 30,085 | 76,800 |
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