6347 Meeting StProspect, KY 40059

Property Details for 6347 Meeting St

Lot size

0.11 AC

Property type

Office properties

Property subtype

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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