Baptist Health Anchored MOB

Anchored by Baptist Health – A Leading Regional Healthcare System – Baptist Health Medical Group occupies two suites totaling about 60 percent of the building. The tenant is a wholly owned subsidiary of Baptist Health (Fitch A+), Kentucky’s largest nonprofit healthcare system. The group has a long operating history at this address with renewals in place and continuing occupancy across both suites, including one term that extends to 2030.
100% Leased Multi-Specialty Medical Tenancy – The building is fully occupied by a complementary mix of specialties including primary care, ENT and allergy, pulmonary care, and general medical users. This balanced lineup keeps referral activity on site and supports stable long-term occupancy and income.
Established Medical Corridor Location – Situated along Stonecrest Road in Shelbyville, the property benefits from proximity to multiple Baptist Health outpatient sites, including urgent care, primary care, occupational medicine, and other complementary medical practices. The corridor draws patients from the broader Shelby and Oldham County submarkets, providing excellent long-term positioning for healthcare tenancy.
Excellent Market Fundamentals – Shelbyville offers stable suburban growth with expanding households, a rising service and healthcare employer base, and comparatively lower occupancy costs than core Louisville. Limited medical office supply in the immediate submarket supports sustained demand and tenant retention.
Attractive Basis Relative to Replacement Cost – At a price of approximately $170 per square foot, the property offers an appealing basis well below current replacement cost for comparable medical office construction. Given rising land, material, and labor costs, acquiring a fully leased, stabilized asset at this pricing provides a compelling value compared to new development.

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Kyle Matthews