For Sale
$1,885,138

2911 Highway 27Somerset, KY 42503

Medical Office Building, Net Lease, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 3,509 square foot, single-story medical office building located at 2911 S Hwy 27, Somerset, KY 42503. The property, built in 2014, sits on a 0.79-acre lot and features 45 parking spaces. Currently 100% occupied by Aspen Dental under a Net Lease agreement with a corporate guarantee, the building offers a strong, stable income stream. The lease commenced August 13, 2014, and has a remaining term of approximately 9.7 years, expiring July 31, 2034. The lease includes four (5) year options with rent bumps of 3% in year 6 and 8% in each option period. The property boasts a 6.50% cap rate and a net operating income (NOI) of $122,534, with an asking price of $1,885,138 ($537.23 per square foot). The property is zoned B-2 and benefits from a roof warranty extending to 2029. This prime location in Pulaski County, Kentucky offers significant potential for long-term growth and return on investment. The property's strong tenant, long-term lease, and attractive financial metrics make it an ideal addition to any portfolio.

Highlights

  • New 10-Year Lease in Place.
  • Roof Warranty through 2029.
  • Excellent Somerset, KY Location.
  • 100% Occupied.
  • Retail Investment Opportunity.
  • Strong Cash Flow Potential.

Property Details for 2911 Highway 27

Property type
Office properties, Medical offices
Square Feet
3,509 SF
Year Built
2014
Buildings
1
Stories
1
Lot Size (sq. ft)
34,412 SF

Location Insight

City
Somerset
County
Pulaski
State
Kentucky
Latitude
37.0531877
Longitude
-84.6259603
2911 Highway 27, Somerset, Kentucky

FAQs

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2911 Highway 27
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