406 Blankenbaker PkwyDouglass Hills, KY 40243

For Sale
$275,000

NNN Leased, $275K, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
95
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

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406 Blankenbaker Pkwy
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