2387 Professional Heights Drive

2387 Professional Heights Drive Lexington, Kentucky 40503 United States

Professional Heights is a rare investment or redevelopment opportunity off Nicholasville Road, Lexington's primary retail and healthcare corridor. Situated on 2.93 acres, 2387 Professional Heights Drive is a 28,352 SF (per PVA) two story multi-tenant office building. Included in the 2.93 acres is a parcel of land that allows for access from Malabu Drive.Built in 1969, the property has undergone significant renovations and capital improvements under its current ownership. In 2022, the roof of the building was replaced and the parking lot resurfaced and striped. The property is zoned P-1 (Professional Office) and offers 52 surface parking spaces. Principal uses of Professional Office include assisted living facilities, hospitals, and childcare centers. Extended stay hotels are a Conditional Use of the Professional Office zone. The current vacancy can be used by an owner occupant or as a value add opportunity for the new owner to increase rents and restructure leases. The proforma Cap Rate is 8.07%.

Listing Courtesy of Block + Lot Real Estate