Two Tenant Investment Opportunity | 2660 Olivet Church Rd
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Two Tenant Investment Opportunity 2660 Olivet Church Rd
5,913 SF 100% Leased Office Building Paducah, KY 42001 $1,395,000 ($236/SF) 6.05% Cap Rate
Investment Highlights
- Two tenant immaculate brick building.
- Located just off Hinkleville Rd, Paducah's main retail and restaurant corridor.
- Significant development in progress nearby, increasing the property value.
- Park of the highly sought after West Park Village.
- Olivet Church Rd is one of the main cut throughs from Exit 4 to Exit 7+
- Tenant in Suite 1 willing to vacate if owner-occupant was interested.
Executive Summary
Top-of-the-line, well-maintained two-tenant office building available for sale in the West Park Village area! Offering over 5,600 sq ft of office space, fully leased to two well-established businesses: Risk Strategies and CNS Cares. This is a great opportunity to own an income-producing investment property surrounded by a vast array of medical offices, professional offices, restaurants, and retail outlets. With high traffic counts along Olivet Church Road and significant development in progress nearby, increasing the property value. A buyer could negotiate to use one suite as an end-user and keep the other for investment purposes.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$111,996
|
$18.94
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$111,996
|
$18.94
|
| Taxes |
$11,854
|
$2.00
|
| Operating Expenses |
$15,693
|
$2.65
|
| Total Expenses |
$27,547
|
$4.66
|
| Net Operating Income |
$84,449
|
$14.28
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $111,996 |
| Annual Per SF | $18.94 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $111,996 |
| Annual Per SF | $18.94 |
| Taxes | |
|---|---|
| Annual | $11,854 |
| Annual Per SF | $2.00 |
| Operating Expenses | |
|---|---|
| Annual | $15,693 |
| Annual Per SF | $2.65 |
| Total Expenses | |
|---|---|
| Annual | $27,547 |
| Annual Per SF | $4.66 |
| Net Operating Income | |
|---|---|
| Annual | $84,449 |
| Annual Per SF | $14.28 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
5,913 SF
Building Class
A
Year Built
2013
Price
$1,395,000
Price Per SF
$236
Cap Rate
6.05%
NOI
$84,449
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
5,913 SF
Building FAR
0.16
Lot Size
0.84 AC
Zoning
Commercial - Commercial
Parking
34 Spaces (5.75 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Security System
- Signage
- Wheelchair Accessible
- Kitchen
- Reception
- Central Heating
- Recessed Lighting
- Drop Ceiling
- Monument Signage
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Critical Nurse Staffing LLC dba CNSCares
- Services
- 2,132 SF
- $12.66
- Modified Gross
- May 2027
- RSC Insurance
- Finance and Insurance
- 3,500 SF
- $24.28
- Full Service Gross
- Feb 2028
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Critical Nurse Staffing LLC dba CNSCares | Services | 2,132 SF | $12.66 | Modified Gross | May 2027 | |
| RSC Insurance | Finance and Insurance | 3,500 SF | $24.28 | Full Service Gross | Feb 2028 |
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PROPERTY TAXES
| Parcel Number | 076-40-00-105 | Total Assessment | $1,022,900 |
| Land Assessment | $0 | Annual Taxes | $11,854 ($2.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
076-40-00-105
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,022,900
Annual Taxes
$11,854 ($2.00/SF)
Tax Year
2024
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Two Tenant Investment Opportunity | 2660 Olivet Church Rd
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