Tremendous investment opportunity in the heart of Newport, Kentucky!
Newport Executive Offices provides all-inclusive, fully furnished office spaces on the first floor, and all-inclusive salon/spa suites on the second floor.
There is currently a huge demand for small, ready-to-go office spaces, as well as private salon/spa suites.
Newport Executive Offices fills both needs, providing for a diversified investment.
With an NOI of $72,936, and an asking price of just $649,000, that’s a 11.2% annual return on your investment.
Brand new full renovation: all new plumbing, electric, and HVAC. We created a sophisticated, comfortable, modern feel, while maintaining the historic fabric of the building. You will not need to put a penny into this building for the next decade.
Drive up and down the streets of Newport and you cannot miss the tremendous amount of residential and commercial development currently happening. Significant appreciation is expected in the area for the next 5-10 years.
Just minutes from Newport on the Levy, currently undergoing a $100,000,000 redevelopment.
Building value at 8 CAP is $911,700
Asking price: $649,000, 11.2% CAP rate
NOTE: We just finished the second floor, and have leased out 2 of the 9 suites pre-construction. We anticipate having them all rented out in the next 60-90 days, which will bring us to the $72,936 NOI.
The first floor has had 92% occupancy since April 2018.
We are offering the building at a discount because we need the capital for several new projects that we are ready to move on.
Once we finish leasing out the second floor, the asking price will increase.
No owner financing, cash offers preferred.
Note: as previously pledged, upon sale of this building, we will be donating 5% of our profits to the Cincinnati Children’s Hospital Heart Institute.