Fully Leased Medical Office Investment

Office for Sale
Catylist Listing ID: 30638410
Property Subtypes: Executive Suites, Medical, Office Building
Building Size (RSF): 16,486 SF
Gross Land Area: 0.75 Acres
Sale Price: $2,900,000
Unit Price: $175.91 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 7.61%
Average Occupancy Rate: 100
Last Updated: 11/22/2021

Overview / Comments

We are pleased to present this opportunity to purchase two medical office buildings adjacent to Georgetown Community Hospital in Georgetown, KY. The properties are fully leased to a diversified mix of local and regional tenants including Neurorestorative and Georgetown Community Hospital. Georgetown's record-breaking population growth and the nearby hospital's recent expansion make this an attractive investment for years to come.

Contact listing agent for Confidential OM with financial documents.

HIGHLIGHTS:
Diversified Tenant Mix
Located near Georgetown Community Hospital and Kroger Marketplace
Easy Access to Lexington Road, McClellan Circle and New Residential Development
103 Windsor Path - 7,000 sf | 105 Windsor Path - 9,486 sf | Total - 16,486 sf

Current Tenants

Tenant Business Name Neuro Restorative
Is Renting? Yes
Suite Number 1,2,5
SF of Space Occupied 6,000 SF
Tenant Business Name Edward Jones
Is Renting? Yes
Suite Number 6
SF of Space Occupied 1,000 SF
Tenant Business Name Bluegrass Behavioral
Is Renting? Yes
Suite Number 1
SF of Space Occupied 1,876 SF
Tenant Business Name Dr. Padma Rao
Is Renting? Yes
Suite Number 2
SF of Space Occupied 1,485 SF
Tenant Business Name Beaumont Behavioral
Is Renting? Yes
Suite Number 5&6
SF of Space Occupied 3,025 SF

Additional Details

Nearest MSA: Lexington-Fayette
County: Scott
Tax ID/APN: 168-30-097.002
Zoning: P-1B
Property Visibility: Good
Area Description: Georgetown, Kentucky, located 10 miles north of Lexington off I-75, is the county seat of Scott County as well as the home of Georgetown College, a private liberal arts college. Georgetown is very proud of its heritage and excited about the tremendous growth the city has experienced in the last few years. Scott County is the fastest growing county in Kentucky with population now exceeding 50,000 per the US Census Bureau estimate. Since the opening of Toyota Motor Manufacturing, employment has risen; the City, County, and School System have prospered; Toyota is a wonderful asset to the community and a huge reason for the growth of the town. Georgetown is fortunate to have the finest of Fire, Police and Public Works Departments. The employees are highly trained with benefit of the latest in technology and equipment. Georgetown offers downtown shopping and shopping malls, restaurants, recreation, sports, beautiful surroundings, and Georgetown College.
Year Built: 2009

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,700 27,921 37,889
Median Age: 32.4 32.87 33.99
Households: 2,593 10,387 13,173
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