Medical Office FOR SALE Berea, KY

Office for Sale
Catylist Listing ID: 30749342
Property Subtypes: Medical
Building Size (RSF): 9,500 SF
Sale Price: $1,200,000
Unit Price: $126.32 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/2/2021

Overview / Comments

We are pleased to present this an Owner occupant or investor opportunity to purchase 9,500 SF Medical Office building in Berea, KY. Exit 77 is a prime development exit off I-75. This Beaumont Development area of Berea is for Professional office and Services mainly. Come be a part of what Berea is doing, and start, move or add a new location here. The property was built in 2000, and present tenant has been in the space since 2002. There is currently 4,000 sf + vacant with leasing prospects underway for additional medical tenancy. Also an adjacent lot (200 Kidd Drive, .82 acres) is available for purchase as well for building expansion, or additional parking needs.

HIGHLIGHTS:
Professional office & services area
Baptist Health Surgery Group occupied $27,720 annually
4,000 SF vacant
Current income $27,720
9,500 SF on .82 acres
Additional development land (0.82 acres) available for sale at 200 Kidd Drive

Additional Details

Nearest MSA: Richmond-Berea
County: Madison
Tax ID/APN: 0060-0030-0002
Zoning: B-4
Property Visibility: Excellent
Area Description: Richmond is centrally located and is south of Lexington on the I-75 corridor. Richmond is one of the fastest growing areas in Kentucky. Several identifiable factors contribute to this growth, such as easy interstate access, proximity to Lexington, lower cost of housing, good employment base, regional university, and cultural and educational opportunities. Richmond tied for the 30th in the Top Micropolitans in the nation for new and expanded industry activity in 2010. The City of Richmond is currently the 7th most populous in Kentucky, up from 11th largest in the 2000 census and is the home of Eastern Kentucky University with approximately 17,000 students. Historic downtown Richmond is one of the finest 19th century commercial districts in the Southeast and is a unique blend of small town warmth and friendliness while still having access to the advantages of a big city.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 2000

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 12,981 23,031
Median Age: 34.42 35.12
Households: 4,927 8,678
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