The Portland Building - Opportunity to Define Louisville's Threshold

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30871746
Property Subtypes: Day Care Facility, Free-Standing Building, Mixed Use, Restaurant, Street Retail
Status: Pending
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: 5/24/2024

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 Louisvilleā€™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.

Attachments & Media

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

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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

Contact

Photograph of Listing Agent

Cal J Lewellyn

EXP Realty LLC KCREA Member
Photograph of Listing Agent

Stephanie L Gilezan

EXP Realty LLC KCREA Member
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