Property Overview

We are pleased to announce the successful off-market sale of a Medical Office Condo at 2507 Bush Ridge Dr, Louisville, KY 40245 for $1,750,000.

The property, constructed in 2017 and located off Old Henry Road in a high-income suburban area, served as a plastic surgery center and medical spa. It features 10 treatment rooms tailored for medical and aesthetic procedures, including laser treatments, non-invasive skincare, injectables, and more.

With considerable experience managing and developing medical-use real estate, our Principal Broker, Will Bockoven, was uniquely qualified to provide the seller with professional guidance throughout this transaction.

Client Background

Will had the privilege of representing one of Louisville’s most respected surgeons. The client has participated in some of the nation’s most advanced research projects and is renowned for performing complex and challenging reconstructive surgeries.

Their practice boasted 55 years of combined experience in cosmetic and reconstructive surgery, with over 30 years of excellent service in Louisville. This expertise allowed the group to provide aesthetic improvements and skincare services while earning a stellar reputation in the community.

Challenges Encountered

This transaction presented several challenges:

• Market Dynamics: The specialized buildout of the medical office and the seller’s price expectations exceeded the current market value.
• Negotiations: Considerable time was spent aligning valuation expectations and negotiating terms that met the needs of both the seller and the buyer.

Through careful valuation analysis, strategic negotiation, and clear communication, Will successfully facilitated an agreement that worked for both parties.

Conclusion

This transaction highlights the importance of understanding the complexities of medical office sales. Collaborating with the client’s tax advisors, business manager, and attorney, and maintaining clear communication, were critical to achieving a successful outcome. It was an honor to work with two amazing surgeons—one growing their practice and the other preparing for a well-earned retirement.

Are you a medical professional looking to buy, sell, or lease office space? Let Will help you navigate the process with expert guidance. Contact him at [email protected] or call/text 502-767-9958.