Freestanding Medical Office in St.
For Sale
$700,000
217 Breckenridge Ln, Louisville, KY 40207
Two-story medical office with basement and on-site parking.
Property Size2,183 SF
Price / SF$320.66
Days on Market252
Property Features for 217 Breckenridge Ln
General Information
Standard status
Active
Size
2,183 SF
Property subtype
Office
Zoning
OR1
Building Details
Year Built
1929
Listing Agency:
Hoagland Commercial
Listed By:
Tim Brown · License #210170
(502) 435-1613
Source:
Kcrea.resimplifi
Added: Jan 28
Changed: Oct 3
Last Checked: Oct 5 at 3:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hoagland Commercial
Investment Insights
Based on property information with market context.
This freestanding two-story building in St. Matthews offers 2,183 square feet of space, plus a large bonus basement, suitable for medical or professional office use. The first floor features a waiting room, reception/office area, six exam rooms, and two restrooms. The second floor includes a large open area, break area, a private office, and an additional restroom, providing flexibility for administrative offices or future reconfiguration. The basement level offers additional value with washer/dryer hookups and ample storage space. Recent capital improvements include a new roof and a new 5-ton HVAC condenser installed in 2024. The property is currently leased to an Aesthetics and MedSpa tenant, generating $3,250 per month in rental income. The lease expires June 30, 2028, with no renewal options, creating an opportunity for an investor or an owner-occupant seeking interim income with a clear path to future occupancy.
Key Highlights
- Rare freestanding medical office building in desirable St. Matthews location.
- Existing lease provides $3,250/month income through June 2028, offering income during transition.
- Functional medical layout featuring 6 exam rooms, waiting room, and reception area.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,292
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,840
$565.8K
Cap Rate 7%
$404,171
$404.2K
Cap Rate 9%
$314,356
$314.4K
Market Conditions
NOI Build-Up for 2,183 SF
Gross rent
$52.4K $24.00/SF
− Vacancy
−$5.2K −$2.40/SF
EGI
$47.2K $21.60/SF
− OpEx
−$18.9K −$8.64/SF
NOI
$28.3K $12.96/SF
Area
Louisville, KY
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,840
Cap Rate 7%
$404,171
Cap Rate 9%
$314,356
Alternative Uses
Best Use
Healthcare Medical
$404.2K
$353.7K – $471.5K
NOI $28,292 @ 7.0% cap · market cap 4.04%
Second Best
Office B
$402.8K
$352.4K – $469.9K
NOI $28,193 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$565.8K
$495.1K – $660.1K
NOI $39,608 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,566
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 40207, KY
30,104
Population
14,507
Households
2.1
Avg Household Size
43
Median Age
68%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
2,573
Density / Sq Mi
$98,583
Median Household Income
$59,242
Median Earnings
$1,248
Median Rent
$401,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Louisville, KY
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-story medical office with basement and on-site parking.
Where is this medical office space located?
The property is located at 217 Breckenridge Ln Louisville, KY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Rare freestanding medical office building in desirable St. Matthews location.; Existing lease provides $3,250/month income through June 2028, offering income during transition.; Functional medical layout featuring **6 exam rooms, waiting room, and reception area.**
