1700 Bluegrass Ave Louisville, KY 40215

Property Details for 1700 Bluegrass Ave

Year built

1998

Lot size

1.45 lot acres

Property size

21,268 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional two-story medical office building, located at 1700 Bluegrass Ave, Louisville, KY 40215, presents a compelling investment opportunity. Boasting 21,268 square feet on a 1.45-acre lot, the property offers 12,860 square feet of net rentable space. Constructed in 1998 and classified as Class C, the building benefits from a recent comprehensive renovation, including new mechanical systems, elevator, roof, updated lobbies, and entrances. The property enjoys high visibility and signage potential, situated directly across the street from UL Hospital (formerly St. Mary's Elizabeth). The asking price is $2,500,000, representing a compelling price per square foot of $117.55 and a strong 6.12% capitalization rate, generating a net operating income (NOI) of $153,023. The property is zoned C-N, offering flexibility for various medical uses. This turnkey investment is ideal for those seeking a stable, high-return asset in a prime Louisville location. The single building is situated on a sizable lot, providing ample space and potential for future expansion or development. All systems are modern and well-maintained, minimizing ongoing operational expenses. This property offers a rare combination of strong financial performance and a desirable location within a thriving medical corridor. Serious inquiries are encouraged.

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Longitude

-85.7939

Latitude

38.1797