Prospect Kentucky Signature Office Complex For Sale

Office for Sale
Sale Pending
Catylist Listing ID: 30647803
Property Subtypes: Executive Suites, Medical, Office Building
Status: Pending
Building Size (RSF): 21,400 SF
Gross Land Area: 1.76 SF
Sale Price: $2,950,000
Unit Price: $137.85 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: Hill Crest Park Offices
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 96
Last Updated: 8/1/2022

Overview / Comments

Beautifully finished two building office complex available for sale. This premier office property is located on picturesque US Highway 42 in front of the Hill Crest Residential Community. This property is a wonderful opportunity for an owner user to occupy office space with in-place income.

* 71 parking spaces surround the buildings.
* Direct access from parking lot for each suite with private entry, restroom, kitchenette, and offices.
* 1600 square feet of office space, currently occupied by the seller, is available for an owner/user to immediately occupy.
* $335,984 of annual in place income.
* 99% Occupancy
* 7.17% CAP Rate
* Signage available on US Highway 42.
* Constructed in 1999.
* State of the Art building HVAC system.
* Back-up generator.
* Standing seam metal roof, high grade siding with stone water table accent the exterior.
* Also includes a freestanding garage, ideal for file and equipment storage.
* Ideal for general and medical office uses.
* Oldham County occupational fee/tax is zero (0.0%) compared to 2.2% sinking fund in neighboring Jefferson County.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Oldham
Submarket Type: Suburban
Taxing Authority: Oldham County PVA
Tax ID/APN: 06-00-00-18C
Zoning: R-4 - Residential District
Property Located Between: High Meadows Pike and Hill Cross Parkway
Property Visibility: Excellent
Highway Access: Easy access to I-265, located just 5 miles to the east of the site.
Site Description: The property offers convenient parking both in the front and rear of the building, allowing customers, clients and employees easy access to the office suites directly from the parking areas. The property addresses range from 12921-12945 W. US Highway 42.
Area Description: Great opportunity to locate your business in Prospect, one of the wealthiest communities in Kentucky. The area offers numerous restaurants and shopping and is within a 20 minute drive of downtown Louisville. This property is an ideal location for professional, legal, finance, insurance or healthcare users.
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 9,200 SF
Year Built: 1999
Year Renovated: 2021
Roof Type: Other
Construction/Siding: Steel Frame
Exterior Description: Hill Crest Park Offices is comprised of two buildings. The front of the site is occupied by a two-story frame structure containing approximately 3,000 square feet. The main building, built in 1999, consists of 18,400 square feet. The buildings are situated in a park like setting with other amenities such as a freestanding garage for tenant storage and an outside patio which is available for tenant use.
Parking Ratio: 3.3 (per 1000 SF)
Parking Type: Surface
Parking Description: Seventy one (71) spaces, including five (5) handicap spaces, surround the buildings.
Total Parking Spaces: 71
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Fiber Optic
Interior Description: The interior of both buildings is fully built out with well-appointed offices. The building HVAC systems have been updated to allow the owner remote access to control the heating and cooling functions. Both buildings have back-up generators to power essential power needs in the event of a power outage.
Zoning Description: The property is zoned R-4 residential which in Oldham County permits professional office use.
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: CTI, LLC
Legal Description: Deed Book: 689; Page: 327

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,943 14,222 58,583
Median Age: 38.7 43.1 40.05
Households: 1,223 5,015 22,175


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