100% Occupied Medical Office For Sale

Office for Sale
Catylist Listing ID: 30749174
Property Subtypes: Medical, Office Building
Building Size (RSF): 9,850 SF
Gross Building Area: See Agent
Sale Price: $1,400,000
Unit Price: $142.13 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/2/2021

Overview / Comments

We are pleased to present this investment opportunity to purchase a two story, 9,850 sf medical office building in Richmond, KY. This property presently has full tenancy with a Baptist Health Surgery group and a Dental group. The property is 9,850 sf, built in 1999 and is walking distance to EKU. Located just off EKU Bypass, this property offers excellent visibility and parking available for tenants. Present tenants have been in place for 7 years and 10 years plus. This is a solid investment opportunity with quality tenancy for an investor.

HIGHLIGHTS:
Tenants- Surgery & Dental practices
9850 SF, Built in 1999
Priced at $142 psf
10.34% Cap
Walking distance to EKU
Located at Exit 87 on I-75

Additional Details

Nearest MSA: Richmond-Berea
County: Madison
Tax ID/APN: 0056-0000-0007-P
Zoning: B-3
Property Visibility: Excellent
Site Description: Located at Exit 87 on I-75
Area Description: Richmond is centrally located and is south of Lexington on the I-75 corridor. Richmond is one of the fastest growing areas in Kentucky. Several identifiable factors contribute to this growth, such as easy interstate access, proximity to Lexington, lower cost of housing, good employment base, regional university, and cultural and educational opportunities. Richmond tied for the 30th in the Top Micropolitans in the nation for new and expanded industry activity in 2010. The City of Richmond is currently the 7th most populous in Kentucky, up from 11th largest in the 2000 census and is the home of Eastern Kentucky University with approximately 17,000 students. Historic downtown Richmond is one of the finest 19th century commercial districts in the Southeast and is a unique blend of small town warmth and friendliness while still having access to the advantages of a big city.
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1999

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,128 31,215 42,154
Median Age: 24.36 31.57 33.13
Households: 2,411 12,004 16,597
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