Multi-Unit Professional Office Building For Sale

Office for Sale
Sale Pending
Catylist Listing ID: 30799192
Property Subtypes: Coworking, Medical, Mixed Use, Office Building, Other
Status: Pending
Building Size (RSF): 4,800 SF
Gross Land Area: 15,000 SF
Sale Price: $339,900
Unit Price: $70.81 PSF
Ceiling: 9 ft.
Property Use Type: Vacant/Owner-User
Building Name: Former Orthodontic Office
Class of Space: Class B
Usable Size (USF): 4,800 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 50
Last Updated: 11/29/2023

Overview / Comments

GREAT LOCATION & LOTS OF RECENT UPDATES! This spacious multi-unit professional/office building has much to offer! The building has been recently renovated in the front unit and has an inviting waiting/reception area, ADA accessible bathrooms, several private office spaces and kitchenette. The rear units of the building are a blank canvas just waiting to be easily retro-fitted for expansion (could be multiple income streams). New paint HVAC & windows have been installed and commercial carpet will be installed for back units. Prime location near established neighborhood, office buildings, local restaurants w/great proximity to downtown Frankfort, I-64, and US 127/US 60 (Versailles Rd).

Current Tenants

Is Renting? Yes
Annual Revenue $31,800 (Annual)
SF of Space Occupied 2,400 SF
Lease Expiration 6/0022
Options Lease expires June, 2022 but tenant will be moving in May, 2022
Tenant Notes Orthodontic Office

Additional Details

Nearest MSA: Frankfort
County: Franklin
Taxing Authority: Franklin County
Tax ID/APN: 074-30-15-012.00
Property Located Between: Schenkel Lane and Teton Trl
Property Visibility: Excellent
Highway Access: Property very well-located just off Wilkinson Blvd (US 421) to US 60 (Versailles Rd) and less than 3.5 miles to I-64.
Airports: Only 6.1 miles to Capital City Airport, Frankfort, and 21 miles to Lexington-Bluegrass Airport via US 421/60 Versailles Rd
Site Description: Attractive one-story brick building which has been recently renovated with fresh paint, new HVAC units and commercial carpet in rear units; and offers excellent professional office space and unlimited potential mixed uses. Includes attractive landscaping in the front. Located in an area that has great visibility and easy access to US 421/127 (Wilkinson Blvd) and US 60 (Versailles Rd), one of the primary thoroughfares through Frankfort which connects to I-64 and also to Lexington and Versailles.
Area Description: Prime east side location near established residential neighborhood, office buildings and restaurants, shopping w/ good proximity to downtown and I-64.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 4,800 SF
Year Built: 1986
Roof Type: Hip
Construction/Siding: Brick
Exterior Description: Nice clean brick exterior with 3 doors
Parking Type: Surface
Parking Description: Features plenty of parking available with easy access to building.
Total Parking Spaces: 20
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Vacant office/mixed use building. Includes recently renovated office space. Front space was previously used as an orthodontic office but could be retro-fitted for other uses. Features ADA accessible bathrooms, with a spacious waiting/reception area, large open exam room, several private office spaces, and kitchenette/break room. Rear portion offers large areas for storage or could be leased for office space or mixed use.
Zoning Description: CL- Commercial
Lot Frontage: 100
Lot Depth: 150
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,046 24,825 37,101
Median Age: 39.01 37.9 38.81
Households: 2,203 10,448 15,893


Photograph of Listing Agent

Timothy E Hubbard

Exit Realty Crutcher KCREA Member
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