2351 Huguenard Drive

Office for Sale
Sale Pending
Catylist Listing ID: 30347413
Property Subtypes: Medical, Office Building
Status: Pending
Building Size (RSF): 9,120 SF
Gross Building Area: See Agent
Gross Land Area: 1.22 Acres
Sale Price: $1,375,000
Unit Price: $150.77 PSF
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class B
Sale Terms: Undisclosed
Cap Rate: 7.5%
Last Updated: 7/16/2019

Overview / Comments

This is a 2 story Office building currently fit up as medical office on both floors. The 2nd floor is leased to Mack and Poole Pediatrics (inquire for lease details). The 1st floor is in excellent condition and fit up perfectly for a medical user, with a room count as follows: 7 exam rooms with sinks, 5 offices, 3 restrooms, generous waiting room, generous reception/check-in check out room, break room with kitchen, and private ingress/egress for staff. Very well-maintained building including new roof and new furnace in 2018. Also offers a nicely fit up basement (4,560 SF) with multiple rooms and elevator access. Great opportunity to sell to a medical user who would practice on the 1st floor and enjoy the rental income and lengthy term from the second-floor tenant.

Investment Information: Pro forma cap rate 7.5% (based on existing tenant rent and projected first floor rent, including property expenses). Inquire with agent for existing Lease details.

Attachments & Media

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Tax ID/APN: 19978370
Zoning: P-1
Area Description: Conveniently located off of Nicholasville Rd, behind Regency Center Kroger and many restaurants, retailers, and other office buildings. Inside New Circle Road. Close proximity to Lexington hospitals.
Total Number of Buildings: 1
Zoning Description: Professional Office

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,036 148,806 244,975
Median Age: 39.89 35.08 35.59
Households: 5,089 64,171 104,234

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