Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    3130 Portland Ave Louisville, KY 40212

    Sponsored
    For Sale
    $1,719,791

    Louisville, KY: Strong ROI, Corporate Guarantee

    Property size:
    9,258 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 9,258-square-foot, free-standing retail building in Louisville, Kentucky, fully occupied by a CVS Pharmacy under a Net Lease agreement. The property, situated on a 0.4-acre lot at 3130 Portland Ave, boasts a strong 6.85% cap rate and a substantial Net Operating Income (NOI) of $117,806. Built in 1962 and operating continuously as a pharmacy, this asset offers a secure investment with a corporate guarantee from CVS Health Corporation. The current lease, expiring December 31, 2027, has approximately 3.1 years remaining, with five 5-year renewal options, each including a 5% rent increase. The asking price is $1,719,791, translating to $185.76 per square foot. The property benefits from its location in a densely populated area, with a significant concentration of residents aged 65-84 and children under 19 within a 5-mile radius, representing a substantial customer base for pharmaceutical services. Furthermore, its proximity to the University of Louisville adds to its appeal. This is a rare opportunity to acquire a stable, high-performing retail property with a long-term tenant and significant upside potential. The property's consistent performance and strong tenant history make it an attractive addition to any investment portfolio. Kentucky's low income tax environment further enhances the investment's attractiveness.

    Property Features for 3130 Portland Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    9,258 SF
    Lot Size
    17,424 SF

    Building Details

    Year Built
    1962

    HighLights

    • Corporate guaranteed lease by CVS Health, rated BBB (S&P) and Baa2 (Moody's).
    • 5% rental increase options.
    • Located in a low‑income‑tax state.
    • Established drugstore location operating since 1962.
    • $96M+ annual healthcare spending within a 5‑mile radius.
    • Dense 5‑mile population of 208,204, with significant concentrations of children under 19 and adults 65‑84.
    Property Profile Location Intelligence

    Current Use by Public Records

    MoneyGram Money Transfer Service Coinhub Bitcoin ATM ... Atm LibertyX Bitcoin ATM Atm CDReload - Online Bitcoin ... Crypto Atm UPS Access Point ... Shipping And Mailing Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.79915219179
    Latitude
    38.274365723258

    Nearby Similar for Sale

    • $250,000
      5,446 SF

      Victorian Multi-Family Building in Louisville

      Spacious three-story Victorian multi-family building with fireplaces.
      Louisville, KY 40203
      View Details
    • $600,000
      3,883 SF

      Historic Highlands Triplex Opportunity

      Charming triplex in Louisville's desirable Highlands/Parkside corridor.
      2073 Sherwood Ave, Louisville, KY 40205
      View Details
    • $670,000
      3,731 SF

      Louisville Commercially Zoned Rental Property

      Commercially zoned rental property in Louisville, operating as mid-term rental.
      320 E College St, Louisville, KY 40203
      View Details
    • $349,900
      0.95 Acres

      Louisville Commercial Property For Sale

      Versatile commercial property with redevelopment potential in Louisville, Kentucky.
      2114 W Market St, Louisville, KY 40212
      View Details
    • $349,900
      0.95 Acres

      Louisville Commercial Redevelopment Opportunity

      Three-story commercial property with redevelopment potential on a high-visibility corner.
      2114 W Market St, Louisville, KY 40212
      View Details
    • $384,999
      2,295 SF

      Highlands Duplex Investment Opportunity

      Duplex in the Highlands, ideal for investors or owner-occupants.
      1801 Tyler Pkwy, Louisville, KY 40204
      View Details
    • $450,000
      4,795 SF

      Updated Multi-Family Apartment Building

      Five-unit apartment building with updated interiors and a brick exterior.
      624 St W, Louisville, KY 40203
      View Details
    • New
      $154,900
      1,143 SF

      Updated Duplex in Downtown Louisville

      Updated duplex with cash-flow potential near downtown Louisville.
      1443 S 32Nd St, Louisville, KY 40211
      View Details
    • New
      $349,000
      1,972 SF

      Updated Duplex with Hardwood Floors

      Updated duplex with original hardwood floors, ideal for investors.
      125 Pope St, Louisville, KY 40206
      View Details
    • $435,000
      2,734 SF

      Baxter Avenue Highlands Duplex

      Corner-lot duplex in Louisville's coveted Highlands neighborhood.
      1100 Baxter Ave, Louisville, KY 40204
      View Details
    • New
      $225,000
      1,710 SF

      Furnished Duplex Investment Opportunity

      Turnkey duplex with modern amenities, ideal for investors or owner-occupants.
      1108 Queen Ave, Louisville, KY 40215
      View Details
    • $850,000
      7,709 SF

      Louisville Mixed-Use Investment Opportunity

      Mixed-use building near University of Louisville and Churchill Downs.
      3000 S 3Rd St, Louisville, KY 40208
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Louisville, KY: Strong ROI, Corporate Guarantee
    Where is this individual retail property located?
    The property is located at 3130 Portland Ave Louisville, KY.
    What is the asking price?
    The asking price for this property is $1,719,791.
    What are key features of this property?
    This property features: Corporate guaranteed lease by CVS Health, rated BBB (S&P) and Baa2 (Moody's).; 5% rental increase options.; Located in a low-income-tax state.
    Request Owner's contact information
    3130 Portland Ave Louisville, KY 40212
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3130 Portland Ave
    Louisville, KY 40212
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3130 Portland Ave Louisville, KY 40212
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.