Corner Retail with
3140 Wilson Ave Louisville, KY 40211
For Sale
Contact for pricing
Fully renovated, fully leased corner retail property with drive-thru capability, walk-in cooler, and an upstairs office.
Property Size2,625 SF
Lot Size0.58 Acres
Price / SF$190.10
Days on Market158
Property Features for 3140 Wilson Ave
General Information
Standard status
Active
Size
2,625 SF
Lot size
0.58 Acres
Property subtype
RETAIL
Listing Agency:
EXP Realty LLC
(502) 424-9484
Listed By:
Nour E Kurdi
(502) 424-9484
Source:
Moodyscre
Added: Feb 19
Changed: Jul 25
Last Checked: Jul 25 at 11:49PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
For sale as a fully leased corner retail investment, this renovated property totals 2,725 square feet on a 0.58-acre lot with bonus land, presented as two properties for the price of one. The space includes a walk-in cooler, counters, shelving, and additional fixtures, along with an upstairs private office and bathroom suitable for management, storage, or administrative use.
The site is located at 3140 Wilson Ave and 2741 Algonquin Pkwy in Louisville, Kentucky, positioned on a busy intersection with approximately 20,000 vehicles per day and a freestanding sign for added visibility.
The offering is listed at a 7.21% cap rate and is leased for $3,400 per month. Drive-thru capability supports a range of uses such as coffee, quick service, carry-out, or other retail/neighborhood service operations, with the restriction that no gas station is permitted on the property.
The site is located at 3140 Wilson Ave and 2741 Algonquin Pkwy in Louisville, Kentucky, positioned on a busy intersection with approximately 20,000 vehicles per day and a freestanding sign for added visibility.
The offering is listed at a 7.21% cap rate and is leased for $3,400 per month. Drive-thru capability supports a range of uses such as coffee, quick service, carry-out, or other retail/neighborhood service operations, with the restriction that no gas station is permitted on the property.
Key Highlights
- Fully renovated corner retail investment at 3140 Wilson Ave & 2741 Algonquin Pkwy with 2,725 SF
- Fully leased for $3,400/month and listed at a 7.21% cap rate
- 0.58‑acre lot with bonus land (two properties included) and a freestanding sign
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.6k | $20.04 |
| − Vacancy | −$3.4k | −$1.30 |
| EGI | $49.2k | $18.74 |
| − OpEx | −$12.3k | −$4.68 |
| NOI | $36.9k | $14.05 |
2,625 SF · lease $20.04/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$527.0K
$461.1K – $614.8K
NOI $36,889 @ 7.0% cap · market cap 7.39%
Second Best
Retail
$432.3K
$378.3K – $504.4K
NOI $30,264 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$680.4K
$595.4K – $793.8K
NOI $47,628 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Fully renovated, fully leased corner retail property with drive-thru capability, walk-in cooler, and an upstairs office.
Where is this grocery and convenience store located?
The property is located at 3140 Wilson Ave Louisville, KY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Fully renovated corner retail investment at 3140 Wilson Ave & 2741 Algonquin Pkwy with 2,725 SF; Fully leased for $3,400/month and listed at a 7.21% cap rate; 0.58‑acre lot with bonus land (two properties included) and a freestanding sign
