100% Leased Office Building Investment

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30282102
Property Subtypes: Office Building
Status: Pending/Contingent
Building Size (RSF): 25,410 SF
Gross Building Area: See Agent
Gross Land Area: 0.09 Acres
Sale Price: $2,195,000
Unit Price: $86.38 PSF
Ceiling: 9.5 ft.
Property Use Type: Investment
Building Name: Meyer Building
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 7.7%
Average Occupancy Rate: 100
Last Updated: 6/20/2018

Overview / Comments

Now being offered for sale, the Meyer Building is located along West Main Street in Louisville's historic Central Business District and within 1 block of the Ohio River. This stunning historic building features a unique cast iron and sandstone facade along with updated interiors that garner recognition. The Meyer Building is currently 100% leased with six existing tenants on its seven floors. With a great tenant mix, this asset is positioned to provide an investor great security with tremendous upside in a very desirable location.

Louisville's West Main Street features amenities that welcome executives of thriving area businesses and international tourists seeking the regions most unique attractions such as the 21C Museum and Hotel, Louisville Slugger Museum & Factory, The Muhammad Ali Center, The Kentucky Center for Performing Arts, Frazier History Museum, Actors Theater and the Kentucky Science Center.

Located next door to Morton's Steak House and within a block of Proof on Main, Vincenzo's, Atlantic #5, the Main Eatery, Mussel & Burger Bar, and the Bristol Bar & Grille among many others.

Financials

Finance Data Year 2018
Gross Operating Income $215,340 (Annual)
Net Operating Income $168,231 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Submarket Type: Central Business District
Tax ID/APN: 014D01730000
Zoning: C-3 - Commercial District
Property Located Between: S. Sixth & S. Seventh Streets on W. Main Street
Property Visibility: Excellent
Airports: SDF
Total Number of Buildings: 1
Number of Stories: 7
Typical SF / Floor: 3,630 SF
Year Built: 1890
Year Renovated: 2015
Construction/Siding: Stone
Exterior Description: Striking historic facade along the South side of W. Main Street.
Parking Type: Other
Parking Description: Zero parking dedicated to this building.
Passenger Elevators: 1

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,415 133,260 299,849
Median Age: 32.55 35.6 36.97
Households: 5,108 58,130 129,675
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