Rare Investment Opportunity in Historic Downtown Paducah

Office for Sale
Catylist Listing ID: 30836056
Property Subtypes: Executive Suites, Coworking, Governmental, Institutional, Office Building, Other
Building Size (RSF): 46,991 SF
Gross Land Area: 0.82 Acres
Sale Price: $1,950,000
Unit Price: $41.50 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/29/2024

Overview / Comments

Very rare investment opportunity in Downtown Paducah at the corner of 4th & Broadway. This remarkable income-producing property contains nearly one acre on a signalized corner in Paducah's Historic Downtown with 84 on-site parks and three road frontages. Owner/user and investor opportunities with the vacant ground floor and basement being the former bank branch and the upper three floors leased to two strong, local tenants on long terms. Over 46,000 square feet across four stories with a basement, two passenger elevators, one freight elevator, an operable vault, and on-site & street parking. Please inquire about the rent roll and financial information.

Additional Details

Nearest MSA: Paducah
County: McCracken
Taxing Authority: City of Paducah
Tax ID/APN: 112-13-18-001, 112-13-18-019, 112-13-18-020, 112-13-18-021, 112-13-18-024, 112-13-18-025
Zoning: B-2-T, B-2
Property Located Between: Broadway St. and Kentucky Ave.
Property Visibility: Excellent
Highway Access: Property fronts S 4th St., which is US Highway 60 Business Loop.
Airports: Barkley Regional Airport - 9.5 miles west
Site Description: Comprised of six adjacent and contiguous parcels totaling approximately 0.82 acres, with frontage on Broadway St., S 4th St., and Kentucky Ave.
Area Description: Historic Downtown Paducah.
Total Number of Buildings: 1
Number of Stories: 4
Year Built: 1983
Roof Type: Flat
Construction/Siding: Block, Steel Frame, Stucco
Parking Ratio: 1.9 (per 1000 SF)
Parking Type: Surface
Parking Description: 84 parks on site plus street parking.
Total Parking Spaces: 84
Passenger Elevators: 2
Freight Elevators: 1
Sprinklers: Wet
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable, DSL, Fiber Optic
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,509 22,553 41,456
Median Age: 40.19 39.6 40.72
Households: 2,043 10,160 18,343

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