For Sale
$490,000

16005 Us-23Catlettsburg, KY 41129

Established dental practice, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fully leased, 3,510 square foot medical office building situated on a 2.304-acre lot in Catlettsburg, Kentucky. The single-story building, constructed in 1989, features vinyl siding, a durable metal roof, and a functional interior layout encompassing 14 rooms, including seven exam rooms and three restrooms. Ample on-site parking caters to both patients and staff. Currently leased to a reputable dental practice until February 2026, with a three-year renewal option already in place at an increased annual rent of $57,287, the property boasts a current annual net income of $55,608 (NNN lease). The property's commercial zoning allows for expansion or the addition of further commercial lease space, presenting significant value-add potential for investors seeking to capitalize on the growing demand for medical office space in the area. The property's prime location offers excellent visibility and accessibility, situated near major roadways and within a thriving community. Priced below recent appraisal, this offering presents a compelling investment opportunity with strong potential for both immediate returns and long-term growth. The property's features include a competitive cap rate, minimal owner responsibilities due to the NNN lease structure, and significant expansion possibilities. This is an ideal investment for those seeking a stable, income-producing asset with substantial upside potential.

Highlights

  • $490,000 asking price for a 3,510 SF medical office building on a 2.304-acre lot.
  • Fully leased to a dental practice through February 2026 with a three-year renewal option at $57,287 annually. Current rent is $4,634/month (NNN).
  • 1-story building constructed in 1989, featuring 14 rooms including 7 exam rooms and 3 restrooms, with ample on-site parking.
  • Located at 16005 US-23, Catlettsburg, KY 41129.
  • Significant value-add potential due to the large lot size and commercial zoning, allowing for expansion or additional build-to-suit opportunities.

Property Details for 16005 Us-23

Property type
Office properties, Medical offices
Square Feet
3,510 SF
Year Built
1989
Buildings
1
Stories
1
Lot Size (sq. ft)
100,362 SF

Location Insight

City
Catlettsburg
County
Boyd
State
Kentucky
Latitude
38.3264344
Longitude
-82.5844485
16005 Us-23, Catlettsburg, Kentucky

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16005 Us-23
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