The Portland Building - Opportunity to Define Louisville's Threshold
Retail-Commercial
for Sale
| Catylist Listing ID: |
30871746 |
| Property Subtypes: |
Day Care Facility, Free-Standing Building, Mixed Use, Restaurant, Street Retail
|
| Building Status: |
Proposed |
| Building Size (RSF): |
35,974 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1.49 Acres
|
| Sale Price: |
$1,050,000 |
| Unit Price: |
$29.19 PSF |
| Ceiling: |
12 ft. |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Vacant/Owner-User |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
4/29/2024 |
Overview / Comments
A historic 35,974 SF warehouse on 1.49 acres, right off of I-64 at exit #22. Standing at the gate-way of downtown Louisville, this property is a unique opportunity for a new owner to redefine one of Louisville’s most traveled corridors. With C-1 zoning already in place, this property permits a variety of commercial uses spanning hospitality and retail, with average traffic counts exceeding 9,000 cars daily on 22nd street. With great exposure for both directions of I-64 - an ADT of almost 60,000 cars - this property could not be better situated for users or businesses with such requirements.
Originally built in 1910, the warehouse has undergone many renovations and additions throughout its history, with the most recent user being a large thrift shop. The building includes two stories, with the 1st floor currently acting as a store-front or retail space, and the second story utilized as storage. As of now, the building has one dedicated dock, but there are numerous areas where additional dock space could be reopened or added. Shingle Roof was replaced in Jan. 2024.
|
Additional Details
| Nearest MSA: |
Louisville/Jefferson County |
| County: |
Jefferson |
| Tax ID/APN: |
005G00470000 |
| Zoning: |
C-1 - Commercial District |
| Retail Clientele: |
General, Business, Traveler, Tourist |
| Property Located Between: |
Family Health Center & Exit #22 Off-Ramp |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
22nd Street |
| Traffic/Vehicle Count: |
9,000 |
| Highway Access: |
Seconds from I-64 and right off of Exit #22. |
| Total Number of Buildings: |
1 |
| Number of Stories: |
2 |
| Typical SF / Floor: |
17,987 SF |
| Property Condition: |
Fair |
| Year Built: |
1910 |
| Construction/Siding: |
Steel Frame |
| Parking Type: |
Surface |
| Parking Description: |
Large gravel parking lot, but no striping in place. |
| Sprinklers: |
Dry |
| Heat Type: |
Electricity, Suspended Radiant Heaters |
| Heat Source: |
Ceiling Units |
| Internet Access: |
Cable |
| Zoning Description: |
C-1 - See the LDC for a full description. |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
11,765 |
124,740 |
263,701 |
| Median Age: |
32.53 |
35.8 |
36.78 |
| Households: |
4,308 |
53,167 |
114,081 |
|
© 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.
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