Gilcher Building

Office for Sale
Catylist Listing ID: 30860487
Property Subtypes: Medical, Office Building
Building Size (RSF): 51,407 SF
Gross Land Area: 0.45 Acres
Sale Price: $13,500,000
Unit Price: $262.61 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Gilcher Building
Class of Space: Class A
Sale Terms: Undisclosed
Cap Rate: 7.4%
Average Occupancy Rate: 98
Last Updated: 11/21/2023

Overview / Comments

On behalf of Central Kentucky Ambulatory Surgery Center, LLC, Block+Lot is pleased to offer the Gilcher Building located at 230 W. Main Street in Danville, KY for sale. The Gilcher Building is a Class A, 51,407 SF, four-story, medical/professional office building investment that has a highly stabilized operating history. Anchored by the Central Kentucky Surgery Center and Ephraim McDowell as the primary tenants, the leases feature long and staggered terms, annual increases, and NNN structures. Contact agent for financial details.

Property Highlights:
- 75% of occupied space has 8+ years of term remaining
- 3% Annual Increases
- NNN Leases
- 98% Occupied
- 7.40% Year 1 Cap Rate
- Direct access to Ephraim McDowell parking garage

Attachments & Media

Current Tenants

Tenant Business Name Ephraim McDowell Health Resource, Inc.
Tenant Notes Ephraim McDowell Health Resource, Inc. is a US-based medical group with 19 practice offices in 6 cities within 1 state. It comprises 112 healthcare providers specializing in various fields, including cardiology, family medicine, surgery, and more. They offer diverse medical taxonomies, and in Danville, KY, the group has 88 members across 12 locations providing a range of healthcare services.
Tenant Business Name Bux Pain Management Danville
Tenant Notes Bux Pain Management Danville, located in Kentucky, specializes in patient-oriented, minimally invasive chronic pain treatments. Led by a board-certified anesthesiologist, they offer interventional procedures to provide long-term relief, promoting mobility and flexibility without invasive surgery or addictive medications.
Tenant Business Name Ephraim McDowell Health
Tenant Notes Ephraim McDowell Health is a comprehensive healthcare system serving over 119,000 residents across six central Kentucky counties. It is anchored by the non-profit, 222-bed Ephraim McDowell Regional Medical Center in Danville, with additional critical access hospitals in Lincoln and Mercer counties. Their mission is to enhance health, build trust, and deliver value through quality healthcare services.
Tenant Business Name Central Kentucky Surgery Center, LLC
Tenant Notes Central Kentucky Surgery Center, LLC is a state-of-the-art outpatient surgical facility located in the heart of Kentucky. The center, part of Ephraim McDowell Health, is dedicated to providing high-quality, patient-oriented surgical care in a comfortable and convenient environment. They specialize in a wide range of outpatient surgical procedures with three specialties and two providers at this location
Tenant Business Name ARCORP, LLC
Tenant Notes For over a decade, ARCORP, LLC has ensured continuous improvement, aligning solutions with values and catering to each client’s unique needs. Their Employee Stock Ownership Plan acknowledges their dedicated employees who understand ARCORP’s regional culture and serve clients as neighbors. ARC Administrators, known for quality healthcare access, now evolves as ASPIRANT, committed to holistic benefit plan management, emphasizing quality care, value, and community through strategic partnerships and innovative solutions.

Additional Details

Nearest MSA: Danville
County: Boyle
Tax ID/APN: D08-017-002
Zoning: COMMERCIAL
Property Visibility: Excellent
Site Description: The Gilcher Building is located in the heart of Downtown Danville, KY at 230 W. Main Street. Appx. 35 miles south of Lexington, Danville is seen as one of the most charming and stabilized tertiary markets in KY. Just down the street from the Gilcher Building is Centre College, widely regarded as the most prominent liberal arts institutions in the Commonwealth of Kentucky.
Total Number of Buildings: 1
Number of Stories: 4
Year Built: 1918
Year Renovated: 2006
Construction/Siding: Brick, Metal/Glass, Steel Frame
Parking Type: Structure
Parking Description: Access to adjacent parking garage.
Passenger Elevators: 2
Sprinklers: Wet, Dry
Heat Type: Hot Water
Air Conditioning: Evaporative Cooler
Zoning Description: Commercial

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,010 13,809 25,246
Median Age: 29.38 38.68 39.97
Households: 1,710 5,493 9,829
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