Catylist ID:
#30862681
Manufacturing Facility with Redevelopment Potential
Industrial
for Sale
| Catylist Listing ID: | 30862681 |
| Property Subtypes: | Flex Space, Free-Standing, Industrial-Business Park, Manufacturing, Warehouse/Distribution |
| Building Size (RSF): | 45,215 SF |
| Gross Land Area: | 2.75 Acres |
| Sale Price: | $4,000,000 |
| Unit Price: | $88.47 PSF |
| Office SF: | 5,335 SF |
| Drive In Bays: | 17 Bays |
| In Opportunity Zone? | Yes |
| Property Use Type: | Investment, Vacant/Owner-User, Business |
| Sale Terms: | Cash to Seller, Sale/Leaseback |
| Cap Rate: | Undisclosed |
| Last Updated: | 5/6/2024 |
Overview / Comments
|
We are pleased to present a 45,215 SF manufacturing facility sitting on 2.75 acres with EZ-1 zoning. This property is comprised of 6 parcels and 4 buildings in Louisville’s Historic Portland Neighborhood. The property sits inside the city’s flood walls and is not in a flood plain. Within a quarter-mile, there are two large redevelopment projects already underway: the $35m Phase IV Waterfront Park Expansion and a $17.5m mixed-use project named “Painters Row”. This property presents two possibilities for its highest and best use. The first option involves maintaining its role as a manufacturing facility for either the current tenant or a new owner. Alternatively, the second option aligns with the evolving landscape of the area, transforming it into a key redevelopment project at the entrance of the Waterfront expansion. Currently, the property is home to a fabrication company that specializes in niche manufacturing needs. The property’s improvements feature an array of industrial real estate assets such as heavy cranes/lifts, reinforced concrete flooring, large drive-in bays, high voltage electricity, laser cutting machines and accompanying infrastructure, industrial air compressors, 1-acre of fenced outdoor storage, flammable storage areas, and a robust ventilation and painting system for the paint shop. When it comes to industrial real estate, it has just about everything except dedicated loading docks. In addition to the robust industrial features, the buildings have dedicated office space, conference rooms, bathrooms, security cameras and alarms, and ample storage for parts, tools, inventory, and records. For a full breakdown of all this property has to offer, please download the OM. Building #1 - Main Manufacturing Facility & Executive Offices 17,598 SF Manufacturing | 4,884 SF Office | 5 Drive-Ins | 10 Overhead Cranes | 3 Phase Electric | 30’ Beam Building #2 - Laser Cutting & Storage Facility 8,020 SF Warehouse | 3,700 SF Storage Loft w/ Freight Elevator | 4 Drive-Ins | 2 Overhead Cranes | 3 Phase Electric | 27’ Beam Building #3 - Paint Warehouse 3,486 SF | 4 Drive-Ins | 3 Phase Electric | 15’ Clearance | Fire Suppression | Painting Boxes & Flammable Storage | Industrial Ventilation System Building #4 - Machine Shop 7,527 SF | 4 Drive-Ins | 3 Phase Electric | 15’ Clearance | Drainage Basin 6 parcels included in sale: 1604 Northwestern Pkwy, Louisville, KY 40203 (2 parcels) 1615 Portland Ave, Louisville, KY 40203 1621 Portland Ave, Louisville, KY 40203 1625 Portland Ave, Louisville, KY 40203 1629 Portland Ave, Louisville, KY 40203 Disclaimer: This information has been obtained from reliable sources. Broker has no reason to doubt its accuracy but it may contain errors or omissions. Broker makes no representation, warranties or guarantees with respect to this information and Buyer should review all of it. |
Attachments & Media
Additional Details
| Nearest MSA: | Louisville/Jefferson County |
| County: | Jefferson |
| Taxing Authority: | Jefferson County |
| Tax ID/APN: | 015K00460000, 015K00490000, 015K00720000, 015K00160000, 015K00150000, 015K00140000 |
| Zoning: | EZ-1 - Enterprise Zone District |
| Property Located Between: | I-64 & W Main St |
| Highway Access: | I-64 |
| Rail Access: | Yes |
| Airports: | Louisville International Airport |
| Site Description: | - Fully Operating Fabrication Facility - Owners are open to a seller leaseback - Abundant Power Supply - Significant development investment in the area from both private and public sectors - Industrial Grade Slab Floors, Steel Beam & Concrete Block Structures with Metal Siding & Metal Roofs |
| Area Description: | - The Waterfront Park Expansion (Phase IV, $35M ) - 0.1 Miles - Painter Row (Retail & Residential, $17.5M) - 0.25 Miles - Interstate 64 - 0.6 Miles - Central Business District - 1 Mile - Whiskey Row - 2 Miles - Yum Center - 2 Miles - East Market District (NULU) - 3.5 Miles - Louisville International Airport - 7.8 Miles |
| Tenancy: | Single Tenant |
| Total Number of Buildings: | 4 |
| Property Condition: | Good |
| Year Built: | 1938 |
| Year Renovated: | 1989 |
| Roof Type: | Gable |
| Construction/Siding: | Metal Siding |
| Parking Type: | Surface |
| Overhead Cranes: | 12 |
| Amps: | 600 |
| Volts: | 480 |
| X-Phase: | Three-Phase |
| Heat Type: | Electricity, Natural Gas, Space Heaters |
| Heat Source: | Central, Ceiling Units |
| Air Conditioning: | Package Unit, Window Unit |
| Lighting: | LED, Fluorescent |
| Internet Access: | Cable |
| Zoning Description: | EZ-1 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Easements: | Other |
| Easements Description: | Billboard |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 14,988 | 126,790 | 282,555 |
| Median Age: | 31.37 | 35.42 | 36.88 |
| Households: | 5,248 | 54,335 | 122,017 |
| © Copyright 2024 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Moody's assume any liability for errors or omissions. |
