426 Codell Drive

Office for Sale
Sale Pending
Catylist Listing ID: 30262540
Property Subtypes: Medical, Office Building
Status: Pending
Building Size (RSF): 3,648 SF
Gross Building Area: See Agent
Gross Land Area: 0.44 Acres
Sale Price: $580,000
Unit Price: $158.99 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/15/2021

Overview / Comments

• Two Story Office Building in Excellent Condition, approximately 1,824 SF per floor
• Ground Floor Medical Fit up includes 5+ exam rooms with sinks and medical fit up, 2 restrooms, reception area, and “certified” compliant x-ray room- Owner occupied and Seller will vacate upon a sale which presents a great
owner/occupant opportunity for a medical user, or the opportunity to lease the space out as an investment
• Second Floor configured as two office suites, one of which is leased and is approx. 1,190 SF. Inquire with agent for lease information.
• Large basement, great for storage
• Expansive Parking Lot with approximately 25 spaces
• 2006 Appraisal available upon request, $600,000 valuation
• Using a 3.75% interest rate, on a 20 year commercial loan with 20% down, the monthly mortgage would be under $2,700/Month. If you were to rent the medical suite for $17.00/SF, rent for that space alone would be appx.$2,500/Month

• Three Tenant Building with two vacancies = Value Add Potential
• Vacancy 1 = 634 SF 2nd Floor Office Space
• Vacancy 2 = 1,824 Ground Floor Medical Office with reception and exam rooms
• Inquire with agent for all leasing information

Attachments & Media

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Tax ID/APN: 10268900
Zoning: P-1
Area Description: Highly developed commercial sector within Lexington. Just off New Circle Rd close to immediate retail, residential, and industry (Palumbo Drive). Available utilities include water, sewer, gas, electric, phone, fiber optics, cable.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 1,824 SF
Year Built: 2002
Total Parking Spaces: 25
Zoning Description: Professional Office

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,663 121,325 226,565
Median Age: 34.23 34.46 34.42
Households: 5,096 52,774 97,441

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