Property Listing No Longer Available for Sale

1901 Kentucky Avenue, Paducah, KY

Health Care for Sale - $280,000 - 4,150 Sq. Ft. on 0.5 acres


Property Info

CIMLS#986962
Location
  1901 Kentucky Avenue
  Paducah KY 42003
UpdatedAugust 29th, 2018
TypeHealth Care
Price$280,000
Building4,150 Sq. Ft.
Land0.5 acres

Property Description

MLS ID: #94103. Features include: Class B1 Property with 110 feet of road frontage. Separate side entry door, large glass-front administrative area, pharmacy, lab, two nurses' stations, 4 offices, 6 exam rooms, x-ray room, 3 baths and kitchen. 4,150 sq ft. Lot size: 110'x165'. Includes front parking lot 165' x 60' with 20 parking spaces. (Additional 10 spaces in back.) Inside city limits on high-volume 4-lane "healthcare alley." Only 7 blocks from (and on the same street as) Baptist Health Paducah Hospital, which serves about 200,000 patients per year from 4 states. Mercy Health Hospital is located 2.5 miles away and also serves as a regional referral center for a wide geographic region. Both hospitals draw patients from more than a dozen counties in western Kentucky, southern Illinois, southeast Missouri, and northwest Tennessee. All building utilities (water, gas, electricity) have remained connected while property has been vacant and on the market.


Financials

Last rental income $5300/month. Tax assessment: $375,000. This property was donated as a gift to a charitable clinic by two physicians who ended their partnership. The charitable clinic paid the loan balance of $83,000. The original loan was for $375,000. A 2017 Broker's Price Opinion gave the property a market value of $298,000.