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This 1,560 sq ft executive office condo, located at 406 Blankenbaker Pkwy, Douglass Hills, KY 40243, is a Class B, stabilized investment property with a strong 6.11% cap rate. Recently renovated in 2024, it boasts new floors, paint, and toilets. The layout includes six large offices, a conference room, a storage room, and two bathrooms. Currently 100% occupied under a NNN lease with a corporate guarantee, the tenant pays $1,400 per month ($16,800 annually) on a three-year lease commencing July 1, 2024, with 3% annual escalations. The property sits conveniently off Blankenbaker Parkway, between Shelbyville Road and I-64, in Jefferson County. The asking price is $275,000, representing a price per square foot of $176.28. Built in 2000, this single-unit, two-story building is zoned OR3. The Net Operating Income (NOI) is $16,800. This is an exceptional opportunity for investors seeking a stable, high-return investment with a strong tenant.
Highlights
$1,400/month lease rate ($16,800 annually).
Three-year lease term commencing July 1, 2024.
Annual rent escalations of 3%.
Property Details
for 406 Blankenbaker Pkwy
Property type
Other office properties, Medical offices
Square Feet
1,560 SF
Class
B
Year Built/Renovated
2000/2024
Buildings
1
Stories
2
Units
1
Location Insight
City
Douglass Hills
County
Jefferson
State
Kentucky
Latitude
38.23935889549
Longitude
-85.544824104935
406 Blankenbaker Pkwy, Douglass Hills, Kentucky
Nearby Comparable
For Sale
$350,000
Middletown Office Condo - Price Reduced
Two-unit office condo, prime location, motivated seller.
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406 Blankenbaker Pkwy, Douglass Hills, Kentucky, 40243
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.