Property Details for 16005 Us-23

Year built

1989

Lot size

2.30 lot acres

Property size

3,510 SF

Property type

Office properties & Spaces

Property subtype

Medical Office Space

Description

This exceptional investment opportunity presents a fully leased, 3,510 square foot medical office building situated on a 2.304-acre lot in Catlettsburg, Kentucky. The single-story building, constructed in 1989, features vinyl siding, a durable metal roof, and a functional interior layout encompassing 14 rooms, including seven exam rooms and three restrooms. Ample on-site parking caters to both patients and staff. Currently leased to a reputable dental practice until February 2026, with a three-year renewal option already in place at an increased annual rent of $57,287, the property boasts a current annual net income of $55,608 (NNN lease). The property's commercial zoning allows for expansion or the addition of further commercial lease space, presenting significant value-add potential for investors seeking to capitalize on the growing demand for medical office space in the area. The property's prime location offers excellent visibility and accessibility, situated near major roadways and within a thriving community. Priced below recent appraisal, this offering presents a compelling investment opportunity with strong potential for both immediate returns and long-term growth. The property's features include a competitive cap rate, minimal owner responsibilities due to the NNN lease structure, and significant expansion possibilities. This is an ideal investment for those seeking a stable, income-producing asset with substantial upside potential.

Location Insight

City

Catlettsburg

County

Boyd

State

Kentucky

Longitude

-82.5844

Latitude

38.3264