421 Gernert / 1601 S. Preston

Office for Sale
Catylist Listing ID: 30539853
Property Subtypes: Business Park, Flex Space, Net Leased, Other
Building Size (RSF): 69,204 SF
Gross Land Area: 5.06 Acres
Sale Price: $4,950,000
Unit Price: $71.53 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: 7/6/2020

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

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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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