421 Gernert / 1601 S. Preston
Office
for Sale
Sale Pending
| Catylist Listing ID: |
30539853 |
| Property Subtypes: |
Business Park, Flex Space, Net Leased, Other
|
| Status: |
Pending |
| Building Size (RSF): |
69,204 SF
|
| Gross Land Area: |
5.06 Acres
|
| Sale Price: |
$4,650,000 |
| Unit Price: |
$67.19 PSF |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Class of Space: |
Class B |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
4/21/2021 |
Overview / Comments
|
Two (2) brand new, five (5) year leases to two strong tenants fill this 100% occupied, three-building, investment opportunity. The 5 acre site sits adjacent to I-65 with the ability to reach downtown, the University of Louisville, and Muhammad Ali International Airport in minutes. Strong cash flow from the existing NNN leases will afford investors the opportunity to evaluate the site for potential re-development.
|
Additional Details
| Nearest MSA: |
Louisville/Jefferson County |
| County: |
Jefferson |
| Tax ID/APN: |
024A00740000 |
| Zoning: |
EZ-1 - Enterprise Zone District |
| Airports: |
Louisville Muhammad Ali International |
| Site Description: |
421 Gernert Court and 1601 S. Preston sits on a little over 5 acres, just south of downtown Louisville, on the east side of Preston Street. The site faces Interstate-65 and is within yards of the on-ramp. |
| Area Description: |
Located just south of downtown Louisville, this offering enjoys Interstate exposure, is in close proximity to the University of Louisville and is minutes from Louisville Muhammad Ali International Airport. |
| Total Number of Buildings: |
3 |
| Year Built: |
2002 |
| Zoning Description: |
EZ-1 and C-2 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
26,992 |
147,155 |
319,216 |
| Median Age: |
34.83 |
35.47 |
36.78 |
| Households: |
13,284 |
64,950 |
137,654 |
|
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