CBD Office Space Adjacent to Two Parking Garages

Office for Sale
Catylist Listing ID: 30741836
Property Subtypes: Coworking, Governmental, High-Tech, Office Building
Building Size (RSF): 65,620 SF
Gross Land Area: 0.34 Acres
Sale Price: $4,495,000
Unit Price: $68.50 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Building Name: Speer Arts and Commerce Building
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/4/2021

Overview / Comments

This is a 5-story office building with 10,424 SF per floor and an attached annex building with approximately 4,500 SF per floor on three floors.There are two short-term tenants in the building, one on the first floor and one on the second floor. A buyer could control the signage on the building and occupy the entire building. A centrally located passenger elevator serves both buildings and there is a freight elevator that serves the five story building and an older elevator that could serve the annex building. First and second floors of the main building have very high ceilings.
The building is located in the heart of restaurants, the Yum! Center is located within one block of the building, the convention center is across the street and two parking garages are adjacent to the building. Both buildings have a basement.
FIRST FLOOR RETAIL SPACE OF 10,424SF OR AS MUCH AS 14,000SF COULD BE AVAILABLE IN JANUARY 2022.
All floors have existing office finish and the third floor has very nice office space totaling approximately 14,000sf .

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 014E02040000
Zoning: C-3 - Commercial District
Property Located Between: 3rd and 4th Streets on Market St.
Property Visibility: Good
Highway Access: Very good, via Third Street ramp going south to parking garage on Third Street.
Airports: Louisville International
Site Description: Building entrance is on Market Street with a first floor suite having a back door in the alley leading to the parking garage.
Area Description: Central Business District across the street from Convention Center.
Total Number of Buildings: 1
Number of Stories: 5
Year Built: 1900
Parking Type: Structure
Parking Description: Spaces available in the adjacent Actors Theatre parking garage.
Passenger Elevators: 1
Freight Elevators: 1
Sprinklers: Wet
Zoning Description: C-3
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,069 132,317 304,794
Median Age: 31.76 35.29 37.06
Households: 6,201 58,166 131,578

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