Advanced ENT, St. Matthews is a 25,684-square-foot, single-tenant medical office building located at 2944 Breckenridge Lane in Louisville, Kentucky. Constructed in 2020 on a 2.92-acre lot, the property serves as the flagship clinical and surgical facility for Advanced ENT & Allergy, the dominant ENT and allergy/immunology practice in the greater Louisville metropolitan area. The site is positioned along Breckenridge Lane, one of the most heavily trafficked medical and retail corridors in the city, surrounded by national retail anchors, Norton Children’s, Kroger, and an established residential base.
Advanced acquired the property in December 2019 as a purpose-built, single-tenant medical office investment. The acquisition was directly sourced and structured as a long-hold income asset, with Advanced ENT & Allergy as the anchor and only tenant. The lease was long-term net-lease structured, with annual escalations providing predictable income growth across the hold period.
The investment thesis rested on three pillars. First, the building. Constructed in 2020 specifically for ENT and surgical workflow, with the physical specifications required by a multi-physician clinical and procedural practice. Second, the tenant. Advanced ENT & Allergy is the largest ENT practice in the Louisville metro and the regional leader for ENT and allergy/immunology care, with over 40 years of operating history. Third, the location. The Breckenridge Lane corridor carries roughly 34,300 vehicles per day, sits within a five-mile population base of nearly 247,000, and is anchored by an average household income of approximately $89,000.
In 2025, the property was sold as part of a three-property Advanced ENT portfolio to an institutional medical office buyer. The asset was successfully realized after roughly five years of ownership.
