Catylist ID: #30798077
100% Office/ Warehouse with R-7 Multi-Family Zoned Land!
Office for SaleAlso listed as Industrial, Vacant Land
|Catylist Listing ID:||30798077|
|Property Subtypes:||Mixed Use, Flex Space, Office Building, Other|
|Building Size (RSF):||7,936 SF|
|Gross Land Area:||1.10 Acres|
|Unit Price:||$97.66 PSF|
|Property Use Type:||Investment|
|Class of Space:||Class B|
|Usable Size (USF):||7,936 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
Overview / Comments
This multi-unit office/warehouse has good rental history and is cash flowing with total income at $4,825 per month and minimal Lessor expense responsibility estimated at just 21% of gross income. Located immediately across from the ramp to Interstate 65 from Preston Highway, this property offers excellent access and exposure! It also offers 0.30 +/- acres of surplus/ excess land that is zoned R-7, Multi-Family District, which offers contributory value to the property and significant development potential!
The front unit is leased to Mirror Glaze and includes approximately 5,000 SF of which approximately 28% is finished office and 82% is warehouse finish. This unit is leased for $3,000 per month, or $7.20 per square foot on modified gross terms (month to month, long term tenant).
The rear unit consists of 2,000 square feet of warehouse space, leased at $1,500 per month, or $9.00 per square foot on modified gross terms (expires April 30, 2023).
There is also a storage garage with 936 square feet that is presently leased for $325 per month on gross terms or $4.17 per square foot (expires October 31, 2022).
The offering is well suited for an owner/ investor who can utilize a unit personally and generate income on other units, or an investor/ developer who wishes to enjoy the cash flow while possibly entertaining the idea of multi-family development or another use at the rear of the property.
Summary of Income/ Expenses, effective May 1, 2022:
|Nearest MSA:||Louisville/Jefferson County|
|Zoning:||C-1 - Commercial District|
|Property Located Between:||Durrett Lane and Gilmore Lane|
|Highway Access:||Interstate 65 ramps are located across the street from the subject|
|Total Number of Buildings:||2|
|Number of Stories:||1|
|Total Parking Spaces:||11|
|Zoning Description:||C-1, Commercial and R-7, Multi-Family Residential|
|Proximity:||1 mile||3 miles||5 miles|
Amanda HelfrichHomepage Realty KCREA Member
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