Regional Bank Anchored Office Building FOR SALE- Richmond KY

1001 Gibson Bay Drive Richmond, KY 40475

1001 Gibson Bay Drive, Richmond, KY, 40475
1001 Gibson Bay Drive, Richmond, KY, 40475
FOR SALE FOR LEASE
Property Type:
Multi Tenant Office
Amount:
$2,650,000
Last Verified:
Apr 16, 2021

Highlights


Description

SVN Stone Commercial is proud to offer this Large office building FOR SALE at 1001 Gibson Bay Drive, in Richmond, KY. The asset is a 21,820 sf Professional Office building that presently has 75% occupancy. The property has been utilized as a bank occupied anchor investment since it's development in 1998. It was the main branch for Kentucky Bank for several years until a recent regional bank purchased Kentucky Bank, known as Stockyards Bank taking overall Kentucky Bank locations soon. The property is the featured asset to this professional office area of Richmond, hosting medical, and professional office tenants. Positioned well as a local iconic office building for the established entrance to the work, live, play neighborhood that is Gibson Bay. The $160,000 of IN PLACE income, 6.04% CAP, with potential to reach a 9.4% CAP at this price point if vacancy is addressed. This property allows an owner occupant with in place income as a co-tenants, or as investment option with upside vacancy to increase income.

Contact Neal Metcalfe for a tour or more details 859-312-8069, neal.metcalfe@svn.com.

SVN Stone Commercial is pleased to offer 3 office vacancies; 2200 sf, 2300 sf on the First Floor, and 1400 sf on the second floor at 1001 Gibson Bay Drive in Richmond. This large office building is home to a Large Kentucky Bank, soon to be Stockyards Bank with multiple drive thru options, as well as several Dental groups, and IT company. 31,000 vpd on the bypass with Easy access to Bypass, US 52, and I-75. 5 minutes to EKU, 10 minutes to I-75 and major retail shopping with a large density of homes nearby as well. Contact Neal Metcalfe, Advisor for more info or to schedule a tour for your office! neal.metcalfe@svn.com or 859-312-8069.

Richmond is a growing, vibrant city centrally located in the heart of Kentucky. Richmond was established in 1798 as the seat of Madison County. Richmond is seeing a period of rapid growth. During the 1990's the population grew at such a rapid rate, Richmond was designated as the fastest growing city in Kentucky.


Year Built: 1998
Building Size: 21820sq ft
Building Class: A
Lot Size: 1.51 acres

Units for Lease

1001 Gibson Bay Office Suite A
Space Available: 2300 SF
Lease Type: Modified Gross

Price Per Sqft/Year: $11.0
1001 Gibson Bay Second Floor Office Suite
Space Available: 1400 SF
Lease Type: Modified Gross

Price Per Sqft/Year: $11.0
Former Real Estate Office
Space Available: 2200 SF
Lease Type: Modified Gross

Price Per Sqft/Year: $11.0

Map of 1001 Gibson Bay Drive, Richmond, KY, 40475

Presented by:

Request additional information


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.