Catylist ID:
#30868768
8.05% Cap - Fully Occupied Office Condos
Office
for Sale
| Catylist Listing ID: | 30868768 |
| Property Subtypes: | Business Park, Net Leased, Office Building |
| Building Size (RSF): | 12,131 SF |
| Gross Building Area: | 22,890 SF |
| Sale Price: | $1,848,000 |
| Unit Price: | $152.34 PSF |
| Property Use Type: | Net Leased Investment (NNN), Investment |
| Building Name: | P-1 |
| Class of Space: | Class B |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 8.05% |
| Last Updated: | 4/8/2024 |
Overview / Comments
|
We are pleased to present this rare investment opportunity to purchase fully leased office condos totaling 12,131 rentable square feet, which consist of 55.44% of the total building square footage at 1030 Monarch St. Included in the sale are condo units 100 & 130, which are located on the first floor, and units 200, 201 & 202 which make up the entire second floor. All of the condos are leased to a single tenant, LifeStance Health, a mental healthcare provider with locations in 33 states. Highlights: Rare investment opportunity in one of Lexington's most popular trade areas, Beaumont Centre. Building signage rights included with purchase Extensive renovation in 2022 Spaces are built out with waiting rooms, reception areas, sizable private offices and in-suite restrooms. |
Attachments & Media
Additional Details
| Nearest MSA: | Lexington-Fayette |
| County: | Fayette |
| Tax ID/APN: | CONDO|42 |
| Zoning: | P-1 |
| Property Visibility: | Excellent |
| Area Description: | Lexington, Kentucky has been rated as one of America's premier cities by some of the most noted and revered industry standard-bearers, such as Forbes magazine, the U.S. Census Bureau, Cognetics consulting group, Dun & Bradstreet, Ladies Home Journal, and Places Rated Almanac - just to name a few. Most people think of rolling countryside with stone fences, great basketball action, horse farms, Thoroughbred racing at Keeneland, a diverse economy, and outstanding schools, colleges and universities. Our community ranks high in quality of life factors, such as health care, public safety, educational attainment, and quality family living. The area also measures high among the best places for business location, creativity, entrepreneurial growth, and career relocation. Residents of competing cities view Lexington as a beautiful place, with great schools, an innovative health care system, a strong economy, and mountains of potential. |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 16,032 | 96,684 | 222,499 |
| Median Age: | 41.39 | 35.48 | 35.59 |
| Households: | 6,853 | 40,182 | 92,804 |
| © Copyright 2024 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Moody's assume any liability for errors or omissions. |
