203 Allison Blvd - Flex FOR SALE


Corbin, KY 40701
$5,875,000 USD
415-625-2117
203 Allison Blvd, Corbin, KY for Sale
$5,875,000 USD
Flex - FOR SALE
1/5
null | 8.86% Cap Rate

203 Allison Blvd
Corbin, KY 40701


HIGHLIGHTS

  • 8.86% year-one CAP rate
  • Newer 1999 construction
  • Strong lease guarantor (GSA lease backed by US government)
  • Extensive tenant improvements indicate long-term commitment to site
  • One-mile from new Southeast Kentucky Regional Business Park Development

OVERVIEW

We are pleased to offer for sale this single-tenant, government-leased office building located at 203 Allison Blvd in Corbin, Kentucky. The property is fully leased to the U.S. Citizenship and Immigration Services (USCIS) under the General Services Administration (GSA) and serves as a regional federal office, providing essential immigration services to communities across southeastern Kentucky. Constructed in 1998, the building comprises 21,117 net rentable square feet (per lease) and is situated on a spacious fee simple parcel. The current lease began on June 1, 2016, for a 15-year term with 10 years firm. The property has a five-year non-firm term from 6/1/2026-05/31/2031. The lease calls for landlord to maintain building and grounds, with the federal government responsible for reimbursement of $284,101 with annual CPI increases covering most operating costs. The subject property has tremendous tenant improvements of well over seven figures and thus presents a huge barrier to potential tenant relocation. Strategically positioned along U.S. Route 25W and just minutes from Interstate 75, the property benefits from high regional accessibility. Its location provides direct routes north to Lexington, KY and south to Knoxville, TN, two major urban centers, each within a 90-minute drive. The property is also served by London-Corbin Airport and proximate to Blue Grass Airport (LEX) for broader regional connectivity. This asset presents a rare opportunity to acquire a GSA-backed federal office in a strategic, logistics-oriented market. With secure tenancy, consistent regional demand for federal services, and superior transportation connectivity, the property offers compelling long-term investment stability and income potential.

FOR SALE DETAILS

PRICE

$5,875,000 USD

PRICE/SF

$278 USD /SF

CAP RATE

8.86%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Flex

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.38

LAND SF

234,353

ZONING

-

APN/PARCEL ID

012-00-00-009.02

ASK ABOUT THIS PROPERTY

Jon HolmquistJon HolmquistMore Info
415-625-2117

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Jon HolmquistJon HolmquistMore Info
415-625-2117

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.