6347 Meeting StProspect, KY 40059

Property Details for 6347 Meeting St

Lot size

0.11 AC

Property type

Office buildings

APN

21403907080000

APU

21403907080000

Description

This exceptional Class A commercial property, located at 6347 Meeting Street in Prospect, Kentucky (zip code 40059), presents a unique investment opportunity. The 7,600 square foot building, constructed in 2023, boasts a versatile layout suitable for various uses, including executive office, medical office, flex space, and coworking. The property is zoned C-R (Commercial/Residential District) and features a total of twelve buildings on the site. The investment type is a Net Lease (NN+), with a multi-tenant occupancy. The property includes 3,400 square feet of first-floor retail or office space, adaptable for build-to-suit or owner-occupancy. This space is currently in a "cold grey" condition and is available at $30 per square foot. Adding to the investment potential are two 1,900 square foot residential units on the second floor, generating a combined gross monthly income of $6,800. The property's APN is 379300170000. This mixed-use property offers a compelling blend of commercial and residential income streams, making it an attractive investment in a desirable Kentucky location. Jefferson County provides a strong market for both commercial and residential tenants. The property's modern construction and flexible space ensure long-term value and adaptability to changing market demands. This is a rare opportunity to acquire a high-quality, multi-use property in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $771,154

  6.5%

  $711,835

  7%

  $660,989

• Comparable approach

  Method

  Valuation

  Relative Method

  $413,184

  Geo Method

  $413,184

• Alternative Use

  Use

  Valuation

  Residential

  $882,675

  Hospitality

  $808,526

  Educational

  $672,684

  Medical

  $695,818

  Retail

  $1,046,397

Location Insight

City

Prospect

County

Jefferson

State

Kentucky

Latitude

38.3324

Longitude

-85.5649

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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