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 |
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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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.
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