3621 Fern Valley Rd Louisville, KY 40219

This fee-simple office building in Louisville, KY, offers a compelling investment opportunity. The 25,274 square foot property is fully occupied by Chewy, Inc., a subsidiary of PetSmart, under a modified gross lease with approximately 7 years remaining until expiration. The lease includes 2.5% annual rent bumps, ensuring consistent income growth and inflation protection. The tenant, operating a call center with 340 agents, has two 5-year renewal options, demonstrating long-term commitment. Built in 1975 and renovated in 2010, the property boasts 194 parking spaces and sits on a 3.28-acre lot. Its prime location on Fern Valley Road, a major thoroughfare with 26,400 vehicles per day, offers excellent visibility and accessibility. The property benefits from proximity to Interstate 65 (150,000 VPD) and Louisville International Airport, enhancing its appeal. Surrounded by national retailers like Sam's Club and Target, and near Indian Trail Square shopping center, the property enjoys high consumer traffic. The strong demographics of the 5-mile trade area, with over 208,000 residents and an average household income of nearly $69,000, further solidify its investment potential. The property's Net Operating Income (NOI) is $473,118, resulting in a 7.50% cap rate. The asking price is $6,308,000. The tenant also has an option to expand the building by 10,000 square feet. The property's APN is 63204750000 and is zoned R-4.