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SOLD – State Leased Office Building

If you are looking for an investment in a single tenant property with a high credit quality tenant, mark your calendars now for the upcoming auction of the Commonwealth of Kentucky Recycling Center at 115 Northgate Drive (just off of Holmes Street near Wilkinson Blvd). The property will be auctioned on site December 16, 2011 at Noon, with a minimum opening bid of only $550,000, after which the property will be sold to the highest bidder*.

The following is a brief summary of the property:

10,000 square foot building constructed in 2005 on 1.65 acres with vacant land for expansion.
Annual Rent of $89,500. Lease expires June 30, 2015.
All paper generated by the State (believe me its a whole lot!) is shredded on site and sold to outside vendors. Recycling is mandated by the State and this environmentally friendly process, according to state employees, is financially self supporting due to the sale of paper.

We will be providing more details in the future but wanted you to mark your calendar now for the auction on December 16th at Noon. Please call Jamie Schrader at 859-288-5008 for more details about this property or how Schrader & Robertson Commercial Auctioneers, LLC can help you sell your real estate.