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.

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.

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
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.

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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
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