Multi-Tenant Medical Office
For Sale
Contact for pricing
240 Blossom Park Dr, Georgetown, KY 40324
Purpose-built outpatient facility with full occupancy and a mix of healthcare and professional office users.
Property Size6,240 SF
Price / SF$324.68
Days on Market8
Property Features for 240 Blossom Park Dr
General Information
Standard status
Active
Size
6,240 SF
Class
A
Property subtype
Retail, Office
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$157,012
Additional Details
Highway Access
Yes
Building Details
Year Built
2004
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
Atlantic Capital Partners
(704) 375-7771
Listed By:
David Hoppe · License #NC 288268
Source:
Crexi
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 7:06AM
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 Atlantic Capital Partners
Investment Insights
Based on property information with market context.
The 6,240-square-foot medical office property at 240 Blossom Park Dr was built in 2004 as a purpose-built outpatient facility. It is 100% leased and accommodates multiple healthcare and professional office tenants, including two Heartland Dental-supported practices. The tenant mix combines medical services with professional office occupancy within a single commercial asset.
The property sits immediately off Interstate 75 in Georgetown’s commercial corridor, with access to national retailers including Walmart Supercenter, Kroger, Lowe’s, ALDI, Chick-fil-A, and Starbucks. Georgetown is part of the Lexington metropolitan area and is also home to Toyota Motor Manufacturing Kentucky, identified in the source information as the company’s largest vehicle production facility globally.
The property sits immediately off Interstate 75 in Georgetown’s commercial corridor, with access to national retailers including Walmart Supercenter, Kroger, Lowe’s, ALDI, Chick-fil-A, and Starbucks. Georgetown is part of the Lexington metropolitan area and is also home to Toyota Motor Manufacturing Kentucky, identified in the source information as the company’s largest vehicle production facility globally.
Key Highlights
- 6,240 SF medical office property built in 2004
- 100% leased multi‑tenant outpatient medical and professional office asset
- Includes two Heartland Dental‑supported practices
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$87,744
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,754,880
$1.8M
Cap Rate 7%
$1,253,486
$1.3M
Cap Rate 9%
$974,933
$974.9K
Market Conditions
NOI Build-Up for 6,240 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$134.8K $21.60/SF
− Vacancy
−$17.8K −$2.85/SF
EGI
$117.0K $18.75/SF
− OpEx
−$29.2K −$4.69/SF
NOI
$87.7K $14.06/SF
Area
Scott County, KY
Vacancy
13.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,754,880
Cap Rate 7%
$1,253,486
Cap Rate 9%
$974,933
Alternative Uses
Best Use
Office B
$1.25M
$1.10M – $1.46M
NOI $87,744 @ 7.0% cap · market cap 4.33%
Second Best
Healthcare Medical
$944.8K
$826.7K – $1.10M
NOI $66,134 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.58M
$1.38M – $1.85M
NOI $110,703 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 40324, KY
51,035
Population
20,570
Households
2.5
Avg Household Size
35
Median Age
34%
College-Educated
94%
High-School Grad
155.1 sq mi
ZIP Area
329
Density / Sq Mi
$83,012
Median Household Income
$47,619
Median Earnings
$1,188
Median Rent
$262,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Purpose-built outpatient facility with full occupancy and a mix of healthcare and professional office users.
Where is this medical office space located?
The property is located at 240 Blossom Park Dr Georgetown, KY.
What is the asking price?
The asking price for this property is $2,026,000.
What are key features of this property?
This property features: 6,240 SF medical office property built in 2004; 100% leased multi‑tenant outpatient medical and professional office asset; Includes two Heartland Dental‑supported practices
