480 E University Dr | Somerset, KY 42503
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- LoopNet Team
480 E University Dr
Somerset, KY 42503
Industrial Warehouse Investment Portfolio · Flex Property For Sale
INVESTMENT HIGHLIGHTS
- Approximately $425,000 NOI /7.5% Cap Rate / $545,000 Gross Rent.
- Multiple tenancies are paying rent with increases based on higher rents that include amortized LL reimbursements for LL improvements.
- Diversified terms ranging from 1-5 years, at rents of $3.80 PSF - $4.20 PSF + Utilities, with a diverse Tenant mix.
- Current prepaid rent from one tenant totaling $143,000 as of June 1, 2025. Will be issued to Buyer at closing based on date of settlement.
PROPERTY FACTS
| Property Type | Flex | Rentable Building Area | 141,768 SF |
| Property Subtype | No. Stories | 1 | |
| Building Class | C | Year Built | 2016 |
| Lot Size | 8.26 AC | Clear Ceiling Height | 20’ |
| Zoning | I-1 - Light Industrial | ||
| Property Type | Flex |
| Property Subtype | |
| Building Class | C |
| Lot Size | 8.26 AC |
| Rentable Building Area | 141,768 SF |
| No. Stories | 1 |
| Year Built | 2016 |
| Clear Ceiling Height | 20’ |
| Zoning | I-1 - Light Industrial |
PROPERTY TAXES
| Parcel Number | 060-6-3-01 | Improvements Assessment | $4,250,000 |
| Land Assessment | $750,000 | Total Assessment | $5,000,000 |
PROPERTY TAXES
Parcel Number
060-6-3-01
Land Assessment
$750,000
Improvements Assessment
$4,250,000
Total Assessment
$5,000,000
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