For Sale
$2,500,000

1700 Bluegrass AveLouisville, KY 40215

High-yield medical office, excellent location.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional two-story medical office building, located at 1700 Bluegrass Ave, Louisville, KY 40215, presents a compelling investment opportunity. Boasting 21,268 square feet on a 1.45-acre lot, the property offers 12,860 square feet of net rentable space. Constructed in 1998 and classified as Class C, the building benefits from a recent comprehensive renovation, including new mechanical systems, elevator, roof, updated lobbies, and entrances. The property enjoys high visibility and signage potential, situated directly across the street from UL Hospital (formerly St. Mary's Elizabeth). The asking price is $2,500,000, representing a compelling price per square foot of $117.55 and a strong 6.12% capitalization rate, generating a net operating income (NOI) of $153,023. The property is zoned C-N, offering flexibility for various medical uses. This turnkey investment is ideal for those seeking a stable, high-return asset in a prime Louisville location. The single building is situated on a sizable lot, providing ample space and potential for future expansion or development. All systems are modern and well-maintained, minimizing ongoing operational expenses. This property offers a rare combination of strong financial performance and a desirable location within a thriving medical corridor. Serious inquiries are encouraged.

Highlights

  • Class C, 21,268 SF medical office building on a 1.45-acre lot in Louisville, KY.
  • Recently renovated with new mechanicals, elevator, roof, lobbies, and entrances.
  • 12,860 SF of net rentable space.
  • High visibility across from UL Hospital (formerly St. Mary's Elizabeth).
  • $2,500,000 asking price, $117.55/SF, 6.12% cap rate, $153,023 NOI.
  • C-N zoning.

Property Details for 1700 Bluegrass Ave

Property type
Office properties, Medical offices
Square Feet
21,268 SF
Class
C
Year Built
1998
Buildings
1
Stories
2
Lot Size (sq. ft)
63,162 SF

Location Insight

City
Louisville
County
Jefferson
State
Kentucky
Latitude
38.179727
Longitude
-85.7939342
1700 Bluegrass Ave, Louisville, Kentucky

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1700 Bluegrass Ave
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