1539 Greenup Ave
Ashland, KY 41101
Corporate Center · Office Property For Sale

Marcus & Millichap is pleased to present the Office Portfolio, located on the corner of Greenup Avenue and 16th Street in Ashland, Kentucky. This portfolio consists of three adjoining buildings with a combined gross leasable area of 60,089-square feet, situated on approximately 0.59 acres, encompassing an entire city block within the epicenter of downtown Ashland. The main structure is a 51,691-square foot, five story office building built in 1930 and completely renovated in 1997, leased to various State Government entities. Adjacent to that is a 7,104-square foot, two story mixed-use building with two Lamar billboards and over 80 parking spaces. The third building is a 700 square-foot structure, located behind the five story office building. The city of Ashland is located in Boyd county Kentucky and is the second largest city in the Huntington-Ashland MSA. The Huntington-Ashland MSA consists of seven counties throughout Kentucky, Ohio and West Virginia with a 2015 population of 361,580 residents. Ashland is also the eighteenth largest community in the Commonwealth of Kentucky. Ashland serves as the main employment hub on the Kentucky side of the tri-state area, while also providing a regional shopping, restaurant and entertainment hub for the county and other municipalities in the region. The subject property is centrally located in a region with strong demographics. There are over 120,700 residents with average incomes exceeding $55,500 within ten-miles. The market area boasts over 131,000 employees with over 23 percent of those employees having an Associate Degree or higher education. The offering sits between 15th street and 16th street on the main thoroughfare of Greenup Avenue, which sees over 13,200 vehicles per day.