426 Codell Drive

Office for Sale
Catylist Listing ID: 30262540
Property Subtypes: Medical, Office Building
Building Size (RSF): 3,648 SF
Gross Building Area: See Agent
Gross Land Area: 0.44 Acres
Sale Price: $600,000
Unit Price: $164.47 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 11/18/2019

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, will lease back, see details below
-Second Floor configured as two office suites, one of which is approx. 1,190 SF and leased until 2021. 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

Sale Leaseback Opportunity:
Upon Sale, owner will lease back the ground floor medical space for a term of 3 years, at $2,500/month + utilities.
-$46,800/year income among existing Tenant and Seller as Tenant via sale/leaseback
-Three Tenant Building with one Vacancy = Value Add Potential
-1 vacancy, 634 SF 2nd Floor Office Space
-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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