205 Geri Lane

Richmond, Kentucky, USA

Looking for an investment office space plus apartments close to EKU? Check out this well maintained office building in desirable high density commercial area very close to the Eastern Bypass, EKU, Barnes Mill Rd residential areas, I75 Exit 87. 5,140sf 2 story building with more than ample parking. Zoned B-3 with 6 units including 1st floor 2 office spaces w/ rent below market value-current tenant occupying both units pays 1820/mo plus electric. 1st floor 3- 1/2 bathrooms, 3 examining rooms, office, lobby, 2 reception areas, 2 addtl offices, good storage. 1st floor presently leased to Eye Car Center and this lease expires on 03/01/2027 te. Luxury LVT flooring in entrance/baths/utility closet. 4 upstairs 1 bedroom, 1 bath Apartments w/, kitchen/den, 5 back building parking spaces & entrance with shared hallway & separate circuit breakers & heat pump/water heaters. Tenant's pay own electri. Each unit & hall painted 11/24, new carpet summer 24 & kitchen cabinets/ appliances/ counters replaced 4 yrs ago approx. Landlord pays water, sewer, trash removal. Front has ample parking & all exterior brick painted 11/24, side wall installed 2022, side alley belongs to with property.
PRICED BELOW APPRAISED VALUE. Excellent opportunity to own Richmond KY investment property.

Additional information: Sewer pipe was relined, all downstairs relined cast iron pipes, downstairs bathrooms have pvc, rubber roof. Morgan Heating and Air services the building. 1st floor 1 heat pump replaced 2024, 1 in 2022. Presently 4 apartments rent for $500 and pay electric. Bathroom fixtures & lighting stay, 2 apt. water heaters new in 2022 Side alley driveway is on this property. Phone system and all eye care equipment on 1st floor is owned by 1st floor tenant and does not convey. Can only be shown by appointment with 24 hours notice to seller and showings can only take place after business hours after 5pm Monday through Friday and Saturday. 1st floor commercial tenant just took 1st of 2 options to extend lease 1 year to 03/01/2016. Next year under current lease with current owner has the option to extend lease once more. There is no sign at property. Lines are photos are approximate; refer to survey for exact. Interested buyers to satisfy themselves on all information pertaining to the property including square footage, zoning, usage, lot size, condition. Current owner has owned property for 33 years; building built sometime in early 1970's. Can not emphasis enough how well this property has been maintained.