Two Olympia Park Plaza - Ground Lease | 4803 Olympia Park Plz
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Two Olympia Park Plaza - Ground Lease 4803 Olympia Park Plz
137,486 SF 95% Leased 4-Star Office Building Louisville, KY 40241 $22,619,153 ($165/SF)
Investment Highlights
- Long-Term, Absolute Net Lease
- Institutional-Quality Asset
- Secure Ground Lease Investment
- Strategic Location in Top U.S. Metropolitan Area
- Significant NOI Coverage to Ground Rent
- Zero Cash Flow Structure with Paydown/Readvance
Executive Summary
$4,304,049 Equity Required (23.5% Over Debt)
Northmarq Commercial is pleased to exclusively offer for sale the ground lease interest in Two Olympia Park located at 4803 Olympia Park Plaza in Louisville, KY. The Property is located at the interchange of I-265 and I-71 and encompasses 137,486 square feet of contemporary, Class A office space situated on ±6.7 acres of land. The underlying absolute NNN ground lease is for a term of 99 years through March 2121, and features rental increases of 2% annually. The asset is being offered with assumable, fixed rate, high-leverage financing offering a low-equity investment solution to 1031 exchange buyers.
In association with Brad Pepin, KY Lic #246584
Northmarq Commercial is pleased to exclusively offer for sale the ground lease interest in Two Olympia Park located at 4803 Olympia Park Plaza in Louisville, KY. The Property is located at the interchange of I-265 and I-71 and encompasses 137,486 square feet of contemporary, Class A office space situated on ±6.7 acres of land. The underlying absolute NNN ground lease is for a term of 99 years through March 2121, and features rental increases of 2% annually. The asset is being offered with assumable, fixed rate, high-leverage financing offering a low-equity investment solution to 1031 exchange buyers.
In association with Brad Pepin, KY Lic #246584
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Office
Building Size
137,486 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2019
Price
$22,619,153
Price Per SF
$165
Percent Leased
95%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
34,372 SF
Building FAR
0.47
Lot Size
6.70 AC
Zoning
C-1 - Commercial
Parking
477 Spaces (3.47 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Conferencing Facility
- Fitness Center
- Security System
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Floor
- 10,000 SF
- Office
- -
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 10,000 SF | Office | - | Now |
1st Floor
| Size |
| 10,000 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $35,397,750 | |
| Land Assessment | $4,693,350 | Total Assessment | $40,091,100 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$4,693,350
Improvements Assessment
$35,397,750
Total Assessment
$40,091,100
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Two Olympia Park Plaza - Ground Lease | 4803 Olympia Park Plz
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