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Class "A" Office | ±172,215 SF 1648 McGrathiana Pky 172,215 SF 100% Leased 4-Star Office Building Lexington, KY 40511 $25,000,000 ($145.17/SF) 7.92% Cap Rate
Investment Highlights
- WALT 3.00 | 8 Tenants in 16 suites
- Redundant power from two different substations | Two separate generators
- Excellent engineer/management in place
- Year built: 2009 | Average rent PSF $20.71
- 80-Year land lease
- Kentucky Broker of Record: Bang Realty, Brian Brockman, Bang Realty KY License #204982
Executive Summary
Opportunity to acquire a 100% occupied class “A” office building in Lexington, KY. The gorgeous 5-story ±172,215 SF building built in 2007 is anchored by long term tenants; University of Kentucky & the American Board of Family Medicine. The impressive tenant roster includes other household names such as A&W, FBI, Secret Service, Lockheed Martin, and KOMATSU.
The property is well-located in The University of Kentucky Coldstream Research Campus. The campus is conveniently located 2-blocks from the Newton Pike exit off Hwy 64, 5 miles north of downtown Lexington and only 8.6 miles from the Blue Grass airport. Acquiring the property at just $145 per square foot offers investors a rare opportunity to purchase well below replacement cost, creating long-term value with both income stability and significant upside potential.
The property is well-located in The University of Kentucky Coldstream Research Campus. The campus is conveniently located 2-blocks from the Newton Pike exit off Hwy 64, 5 miles north of downtown Lexington and only 8.6 miles from the Blue Grass airport. Acquiring the property at just $145 per square foot offers investors a rare opportunity to purchase well below replacement cost, creating long-term value with both income stability and significant upside potential.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
172,215 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2007
Price
$25,000,000
Price Per SF
$145.17
Cap Rate
7.92%
NOI
$1,980,459
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
34,443 SF
Building FAR
0.41
Lot Size
9.60 AC
Zoning
P-2
Parking
822 Spaces (4.77 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
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Property Taxes
| Parcel Number | 38107630 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $969,000 |
Property Taxes
Parcel Number
38107630
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$969,000
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Class "A" Office | ±172,215 SF | 1648 McGrathiana Pky
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