Medical Office Building with Executive
305 Medpark Drive Somerset, KY 42503
New
For Sale
$2,600,000
COMMERCIAL - Somerset, KY
Property Size9,378 SF
Lot Size1.49 Acres
Price / SF$277.24
Days on Market6
Property Features for 305 Medpark Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C
- Standard status
- Active
- APN
- 061-2-1-38.3
- Size
- 9,378 SF
- Lot size
- 1.49 Acres
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 2014
- Roof type
- Metal
Listing Agency:
CENTURY 21 Advantage Realty
(606) 451-1021
Listed By:
James T Wilson
(606) 875-5904
Added: Jul 20
Changed: Jul 25
Last Checked: Jul 25 at 3:06PM
MLS# 26019891
Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This medical office building offers a specialized interior with 10-foot ceilings and 8-foot doors, including multiple operating rooms, spacious waiting areas, and numerous exam rooms arranged in an efficient layout. The design allows the building to be divided into two separate suites, supporting multiple occupants or independent practices.
The property is located in the MedPark West Development, positioned just behind Lake Cumberland Regional Hospital in Somerset, KY. An upper-level executive office is accessible via a private elevator and includes hardwood flooring, a full bathroom, a fireplace, and a private balcony with views over the city.
The building sits on approximately 1.49 acres and totals 9,378 square feet, with zoning noted as C.
The property is located in the MedPark West Development, positioned just behind Lake Cumberland Regional Hospital in Somerset, KY. An upper-level executive office is accessible via a private elevator and includes hardwood flooring, a full bathroom, a fireplace, and a private balcony with views over the city.
The building sits on approximately 1.49 acres and totals 9,378 square feet, with zoning noted as C.
Key Highlights
- 2014‑built medical office building in MedPark West development, located just behind Lake Cumberland Regional Hospital
- On just under 1.5 acres with public water available and public sewer
- Interior includes 10‑foot ceilings and 8‑foot doors, with multiple operating rooms, spacious waiting areas, and numerous exam rooms
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $154.2k | $16.44 |
| − Vacancy | −$10.6k | −$1.13 |
| EGI | $143.5k | $15.31 |
| − OpEx | −$57.4k | −$6.12 |
| NOI | $86.1k | $9.18 |
9,378 SF · lease $16.44/SF/yr · vacancy 6.90% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.23M
$1.08M – $1.44M
NOI $86,122 @ 7.0% cap · market cap 3.31%
Second Best
Office B
$1.18M
$1.04M – $1.38M
NOI $82,940 @ 7.0% cap · market cap 3.19%
Theoretical Best
Specialty Retail
$1.60M
$1.40M – $1.86M
NOI $111,838 @ 7.0% cap · market cap 4.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lake Cumberland Lung ...
Medical Clinic
DREZ one
Medical Clinic
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- Lake Cumberland Animal Hospital — 361 Langdon St STE A, Somerset, KY 42503
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FAQs
What type of property is this?
Medical Office Space - Medical office building with multiple exam and operating rooms, designed to divide into two suites and served by a private elevator.
Where is this medical office space located?
The property is located at 305 Medpark Drive Somerset, KY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 2014‑built medical office building in MedPark West development, located just behind Lake Cumberland Regional Hospital; On just under 1.5 acres with public water available and public sewer; Interior includes 10‑foot ceilings and 8‑foot doors, with multiple operating rooms, spacious waiting areas, and numerous exam rooms
