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3130 Portland Ave
Louisville, KY 40212
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Corporate-guaranteed lease with ~3 years remaining
- Dense residential trade area: 208,204 people within 5 miles
- Passive income with repositioning upside
EXECUTIVE SUMMARY
Helios Investment Services proudly presents an exceptional value-add opportunity: a 9,258 SF single-tenant retail asset located at 3130 Portland Ave in the thriving city of Louisville, KY. Formerly occupied by CVS Pharmacy, this free-standing building is backed by a corporate lease guarantee with approximately three years of passive income remaining, making it an ideal acquisition for investors seeking short-term cash flow with long-term repositioning potential.
This legacy drugstore location has served the community since 1962, anchoring a vibrant retail corridor with neighboring tenants including Kroger, Family Dollar, Save A Lot, Long John Silver’s, and more. With a 5-mile population exceeding 208,000 residents and annual healthcare spending in the area topping $96 million, the demographic fundamentals are robust and pharmacy demand remains high.
Located in the Portland neighborhood, the property offers excellent visibility and access, just minutes from downtown Louisville and the University of Louisville. Positioned near major freeways including I-64 and I-264, the site connects easily to broader regional markets.
This legacy drugstore location has served the community since 1962, anchoring a vibrant retail corridor with neighboring tenants including Kroger, Family Dollar, Save A Lot, Long John Silver’s, and more. With a 5-mile population exceeding 208,000 residents and annual healthcare spending in the area topping $96 million, the demographic fundamentals are robust and pharmacy demand remains high.
Located in the Portland neighborhood, the property offers excellent visibility and access, just minutes from downtown Louisville and the University of Louisville. Positioned near major freeways including I-64 and I-264, the site connects easily to broader regional markets.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
High Vacancy Property
Property Type
Retail
Property Subtype
Drug Store
Building Size
9,300 SF
Building Class
C
Year Built
1962
Price
$1,370,005 CAD
Price Per SF
$147.31 CAD
Cap Rate
11.84%
NOI
$162,205 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.53
Lot Size
0.40 AC
Opportunity Zone
Yes
Zoning
C2 - Commerical
Parking
18 Spaces (1.94 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 010B00210000 | Improvements Assessment | $2,045,184 CAD |
| Land Assessment | $101,948 CAD | Total Assessment | $2,147,132 CAD |
PROPERTY TAXES
Parcel Number
010B00210000
Land Assessment
$101,948 CAD
Improvements Assessment
$2,045,184 CAD
Total Assessment
$2,147,132 CAD
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