2911 Highway 27 Somerset, KY 42503
- Commercial real estate
- 2,205 SF
- 0.80 lot acres
Current Use by Public Records
- Motto Clear Aligners / Dentist
- aspen dental, John W Ihnen DMD LLC / Dentist
- Aspen Dental - Somerset, KY / Dentist / Emergency Dental Service
- William Feltner / Dentist
- Kurt Goodell / Dentist / Endodontist
Property Details for 2911 Highway 27
- Year built
- 2014
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.80 lot acres
- Property size
- 2,205 SF
- Property type
- Commercial real estate
- APN
- 062-1-0-52
- APU
- 621052
Description
This exceptional investment opportunity presents a 3,509 square foot, single-story medical office building located at 2911 S Hwy 27, Somerset, KY 42503. The property, built in 2014, sits on a 0.79-acre lot and features 45 parking spaces. Currently 100% occupied by Aspen Dental under a Net Lease agreement with a corporate guarantee, the building offers a strong, stable income stream. The lease commenced August 13, 2014, and has a remaining term of approximately 9.7 years, expiring July 31, 2034. The lease includes four (5) year options with rent bumps of 3% in year 6 and 8% in each option period. The property boasts a 6.50% cap rate and a net operating income (NOI) of $122,534, with an asking price of $1,885,138 ($537.23 per square foot). The property is zoned B-2 and benefits from a roof warranty extending to 2029. This prime location in Pulaski County, Kentucky offers significant potential for long-term growth and return on investment. The property's strong tenant, long-term lease, and attractive financial metrics make it an ideal addition to any portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Somerset
- County
- Pulaski
- State
- Kentucky
- Longitude
- -84.6259
- Latitude
- 37.0531
- CBSA code
- 43700
- CBSA name
- SOMERSET, KY MICROPOLITAN STATISTICAL AREA
