4750 Ky Route 321Hagerhill, KY 41222

  • Office properties
  • 6,802 SF
For Sale
$698,158 View listing

Property Details for 4750 Ky Route 321

Year built
1980
Construction
TYPE NOT SPECIFIED
Lot size
1.00 AC
Property size (Sq ft)
6,802 SF
Property type
Office properties
Property subtype
Office buildings
APN
055-00-00-015.15
APU
55000001515

Description

This fee-simple investment opportunity presents a 6,240 square foot medical office building in Hagerhill, Kentucky. The property, located at 4750 S KY Route 321, sits on a 2.23-acre lot and boasts 47 parking spaces. Currently occupied by DaVita Kidney Care under a single-tenant, net lease agreement, this property offers a strong, passive income stream. The lease, originally commencing June 1, 2004, has a remaining term of 0.6 years, with two one-year renewal options. The lease includes a fixed 3.0% annual rent increase, providing protection against inflation and a steady increase in cash flow. The asking price is $698,158, representing a 10.00% capitalization rate and a NOI of $69,815. Built in 1980, this DaVita location is the only nephrology/dialysis clinic within a 30-mile radius, benefiting from a strong, underserved market and a long-standing tenant with a proven track record. The corporate guarantee provides significant security for the investor. This property is an excellent addition to any diversified investment portfolio, offering stability and growth potential in a recession-resistant sector. The property's prominent location on a major thoroughfare ensures high visibility and accessibility. The lease structure, coupled with the tenant's long history at this location and recent lease extension, demonstrates a commitment to the site and its continued success. This is a rare opportunity to acquire a well-established, high-performing medical office building with a strong tenant and significant upside potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,167,027
    6.5%
    $1,077,256
    7%
    $1,000,309
  • Comparable approach

    Method
    Valuation
    Relative Method
    $578,190
    Geo Method
    $844,740
  • Alternative Use

    Use
    Valuation
    Residential
    $1,335,797
    Hospitality
    $1,223,583
    Educational
    $1,018,007
    Medical
    $1,053,017
    Retail
    $1,583,566
4750 Ky Route 321, Hagerhill, Kentucky

Location Insight

City
Hagerhill
County
Johnson
State
Kentucky
Latitude
37.7793
Longitude
-82.793

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$4,116
-
-
$400,000
-
-
-
$400,000

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