Catylist ID:
#30839466
| Catylist Listing ID: | 30839466 |
| Property Subtypes: | Executive Suites, Medical, Office Building |
| Building Size (RSF): | 11,904 SF |
| Sale Price: | $1,950,000 |
| Unit Price: | $163.81 PSF |
| Property Use Type: | Investment, Vacant/Owner-User |
| Class of Space: | Class B |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 5/23/2023 |
Overview / Comments
|
We are pleased to bring to market this +/- 11,904 SF single story professional office building located at 166 Pasadena Drive in Lexington, KY. The property was constructed in 1987 and was built to accommodate multiple users. The improvement is conveniently located on the south side of town, sitting between Clays Mill Road and Nicholasville Road. Of the 11,904 sf, 40% of the property is leased to Allergy Partners, who recently signed a fresh 5-year extension to remain on the premises. Part of the lease renewal included a renovation of the suite to modern furnishes. The remaining 60% of the property is available to any prospective tenant or owner occupant. HIGHLIGHTS Single story office on the south side of Lexington 40% occupied with fresh 5-year term Ideal scenario for an owner-occupant Quick access to Nicholasville Road and New Circle Road Ample parking |
Attachments & Media
Additional Details
| Nearest MSA: | Lexington-Fayette |
| County: | Fayette |
| Tax ID/APN: | 20027220 |
| Zoning: | P-1 |
| Property Visibility: | Excellent |
| Area Description: | This property at 166 Pasadena Drive is located just off Nicholasville Road between Pasadena and Dennis Drive in Lexington, KY. This medical office space is very accessible to the general public, being only 0.2 miles from Nicholasville Road and 0.5 miles from New Circle Road, two of the busier thoroughfares in Lexington. Lexington’s healthcare supply is consistently ranked among the best in North America and the world, while the industry’s constant expansion is evident in hospital and clinic construction and renovation projects throughout the city. The healthcare sector has been one of the driving forces of growth and stability in the Bluegrass economy, with nearly 18-percent of the area’s workforce employed in healthcare and social assistance fields. |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Year Built: | 1987 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 15,450 | 148,579 | 242,687 |
| Median Age: | 37.5 | 35.09 | 35.61 |
| Households: | 7,241 | 64,253 | 103,269 |
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