Freestanding Chewy, Inc. Office Investment

3621 Fern Valley Rd, Louisville, KY

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For Sale

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Freestanding Chewy, Inc. office investment property in Louisville, KY.

Type:OFFICE

Property size:

25,274 SF

Lot size:

3.15 Acres

Price / SF:

$249/SF

HighLights

Freestanding Chewy, Inc. office investment property with fee simple interest.
Approximately 7 years remaining on the initial lease term with 2 (5‑year) options to extend.
Chewy, Inc. is a well‑known online retailer of pet products owned by PetSmart.
Lease includes 2.5% annual rental increases throughout the initial term and option periods.
Tenant reimburses all operating expenses exceeding the 2019 base year expenses.
Tenant has the option to expand the building by an additional 10,000 SF.

We can help!

Listing Contact

Michael Carter

For Sale

Contact for pricing

Freestanding Chewy, Inc. office investment property in Louisville, KY.

Type:OFFICE

Property size:

25,274 SF

Lot size:

3.15 Acres

Price / SF:

$249/SF

Added:: May 19, 2025
Days on Market:: 400
Last Refresh:: May 20 at 8:22 pm

Property Features for 3621 Fern Valley Rd

General Information

Standard status: Active
Size: 25,274 SF
Lot size: 3.15 Acres
Property subtype: OFFICE

We can help!

Listing Contact

Michael Carter

Listing agent Michael Carter License #6501369793

Listing office SRS Real Estate Partners | Detroit

Listing date May 19, 2025

Source Moodyscre

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners | Detroit

HighLights

Freestanding Chewy, Inc. office investment property with fee simple interest.
Approximately 7 years remaining on the initial lease term with 2 (5‑year) options to extend.
Chewy, Inc. is a well‑known online retailer of pet products owned by PetSmart.
Lease includes 2.5% annual rental increases throughout the initial term and option periods.
Tenant reimburses all operating expenses exceeding the 2019 base year expenses.
Tenant has the option to expand the building by an additional 10,000 SF.

Overview

This freestanding office investment property is located in Louisville, KY. The property is occupied by Chewy, Inc., an online retailer of pet food and other pet-related products owned by PetSmart. This location serves as their first call center, accommodating 340 agents. The tenant has approximately 7 years remaining on their initial term, with two 5-year options to extend. The tenant reimburses all operating expenses exceeding the 2019 base year expenses. The lease includes 2.5% annual rental increases throughout the initial term and option periods. The tenant has the option to expand the building by an additional 10,000 square feet. To meet parking requirements, the tenant would take over a portion of the parking lot north of the building and increase their parcel size. The property size is 25,274 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$530.8k	$21.00
− Vacancy	−$95.5k	−$3.78
EGI	$435.2k	$17.22
− OpEx	−$108.8k	−$4.31
NOI	$326.4k	$12.92

25,274 SF · lease $21.00/SF/yr · vacancy 18.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$4.66M

$4.08M – $5.44M (±1% cap)

NOI $326,414 @ 7.0% cap · market cap 5.17%

Second Best

—

no second resolved use

Theoretical Best

Office A

$6.55M

$5.73M – $7.64M (±1% cap)

NOI $458,571 @ 7.0% cap · market cap 7.27%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Chewy Pharmacy Veterinary Clinic

Suggested Use

Location Insight

Map
Local Demand

City: Louisville
County: Jefferson
State: Kentucky
Longitude: -85.6939
Latitude: 38.1583

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For sale
Office buildings
KY
Louisville
3621 Fern Valley Rd

What type of property is this?

Office building - Freestanding Chewy, Inc. office investment property in Louisville, KY.

Where is this office building located?

The property is located at 3621 Fern Valley Rd Louisville, KY.

What is the asking price?

The asking price for this property is $6,308,000.

What are key features of this property?

This property features: Freestanding Chewy, Inc. office investment property with fee simple interest.; Approximately 7 years remaining on the initial lease term with 2 (5‑year) options to extend.; Chewy, Inc. is a well‑known online retailer of pet products owned by PetSmart.

3621 Fern Valley Rd, Louisville, KY

Freestanding Chewy, Inc. office investment property in Louisville, KY.

Property Features for 3621 Fern Valley Rd

General Information

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Turnkey Restaurant on Preston Highway

Highlands Four-Plex Investment Opportunity

Turnkey Restaurant on Preston Highway

Victorian Triplex in Crescent Hill

Six-Unit Multifamily with Private Driveway

Highlands Multifamily Investment Opportunity

Fourplex with Rear Parking

Louisville Commercial Redevelopment Opportunity

Louisville Commercial Redevelopment Opportunity

Duplex or Single-Family Conversion

Louisville Retail Property For Sale

Crescent Hill Value-Add Triplex

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