Historical Downtown Office Building

Office for Sale
Catylist Listing ID: 30839513
Property Subtypes: Executive Suites, Coworking, Institutional, Mixed Use, Flex Space, Office Building
Building Size (RSF): 39,008 SF
Gross Building Area: See Agent
Sale Price: $5,200,000
Unit Price: $133.31 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class B
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 5/22/2023

Overview / Comments

This historical office building is located on West Main Street in the heart of downtown Louisville. The building is in one of the most desirable locations in the central business district in the block between the KFC Yum Center and the Kentucky International Convention Center. Constructed in 1886, this multi-tenant building has been owned and occupied by Hubbuch and Co. for over 70 years.

It is comprised of 5 floors, as well as a fully finished lower level that is currently occupied. Three tenants currently occupy the building, including In Season restaurant and a large law firm. The building is well suited for an owner user who can occupy space, as well as an investor seeking to lease to value-oriented office users who are seeking buildings with historical character. Hubbuch and Co. is continuing operations and would consider leasing back the entire lower level upon sale.

The property has direct access to multiple parking options. It abuts a parking garage with a pedway to the second floor of the building, and is directly across the street from the Galt House garage, which leads to an enclosed pedway across Main Street to the garage next door. The owners have enjoyed a long term lease with the state with the entire, abutting, 20 space parking lot that can be transferred to a buyer.

The property has been well maintained with an attractive lobby space. Interior spaces enjoy excellent natural light, direct elevator access into each space, as well as skylights throughout. An investor could also perform an adaptive re-use into multifamily or a boutique hotel. With new investment from bourbonism, as well as a sure push from local government to grow the sub-market, now is the time to invest in downtown Louisville to reap future returns.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 014ESROW0000
Zoning: C-3 - Commercial District
Total Number of Buildings: 1
Number of Stories: 5
Year Built: 1880
Roof Type: Flat
Parking Type: Structure, Surface
Parking Description: See agent for details.
Total Parking Spaces: 20

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,370 133,458 302,347
Median Age: 33.2 35.3 37.04
Households: 5,326 58,654 130,575
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