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    2620 Perkins Creek Dr Paducah, KY 42001

    Sponsored
    For Sale
    $2,395,000

    High-yield office building, 100% occupied.

    Property size:
    11,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional investment opportunity presents a single-tenant, 11,500-square-foot office building located at 2620 Perkins Creek Drive, Paducah, KY 42001. The property, built in 2005 and renovated in 2017, sits on a 1.24-acre lot and boasts 64 parking spaces. Currently operating at 100% occupancy, the building offers a compelling 9.95% cap rate with a Net Operating Income (NOI) of $238,310. The asking price is $2,395,000, translating to $208.26 per square foot. The property is zoned for commercial use and features a single-story design. The current tenant, the United States Veterans Affairs (VA) Outpatient Center, a Community-Based Outpatient Clinic (CBOC), has occupied the space since 2017 under a triple net lease. The current lease extends through February 2027, with a new lease extension pending execution through February 2028. The listed rental amount reflects a rent change effective February 2025, based on a new rental rate of $20.45 base rent and $4 per square foot in common area maintenance (CAM) charges. This property is situated in the desirable Strawberry Hill area, experiencing significant ongoing development, further enhancing its value. The VA's presence provides a stable and reliable income stream, making this an attractive investment for discerning buyers. The property's location and tenant profile contribute to its strong financial performance and long-term potential.

    Property Features for 2620 Perkins Creek Dr

    General Information

    Property type
    Medical offices
    Square Feet
    11,500 SF
    Lot Size
    54,014 SF

    Building Details

    Year Built/Renovated
    2005/2017
    Buildings
    1
    Stories
    1
    Units
    1
    Property Profile Location Intelligence

    Current Use by Public Records

    JAMIE WALKER MILBY Physician Assistant Paducah VA Clinic Medical Clinic Monica Vinyard General Practitioner Jamie Milby General Practitioner Forester Elizabeth B ... Doctor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Paducah
    County
    McCracken
    State
    Kentucky
    Longitude
    -88.6856649
    Latitude
    37.0669239

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    FAQs

    What type of property is this?
    Medical office - High-yield office building, 100% occupied.
    Where is this medical office located?
    The property is located at 2620 Perkins Creek Dr Paducah, KY.
    What is the asking price?
    The asking price for this property is $2,395,000.
    Request Owner's contact information
    2620 Perkins Creek Dr Paducah, KY 42001
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2620 Perkins Creek Dr Paducah, KY 42001
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