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Value-Add Former CVS | Dark Location 3130 Portland Ave Vacant Retail Building Online Auction Sale Louisville, KY 40212
Investment Highlights
- Opportunity to acquire an income-producing, highly visible, dark CVS location with three years remaining on its lease term in Louisville, Kentucky.
- Buyers have the chance to capitalize on the in-place incomes and prepare the property for its future use in 2027.
- Investors can capitalize on this highly visible location with excellent frontage on Portland Avenue which sees over 3,500 vehicles per day.
- Exceptional placement in an up-and-coming area by Interstates 264 and 64, which swiftly connect this property to downtown in under 10 minutes.
- Located next to a church and a plethora of retailers drawing in consumers to the area such as Kroger, Family Dollar, Sale A Lot, and many more.
- Located in Kentucky’s largest city, Louisville is seeing exponential growth within 5 miles and consumer spending exceeding $1.96 billion annually.
Executive Summary
Investors and owner/users have the unique opportunity to acquire a dark CVS location in Louisville, Kentucky.
3130 Portland Avenue presents a prime investment opportunity for buyers. The property consists of 9,300 square feet on a single level, situated on a 0.4-acre lot with ample parking available for both customers and employees. Originally constructed in 1962, the building has been well-maintained and thoughtfully upgraded, establishing itself as a true community landmark. Key features include a convenient drive-thru and the classic CVS architectural style, which together offer strong curb appeal and functionality. Although CVS vacated the property in 2025, nearly three years remain on the lease, which is backed by a solid corporate guarantee. Investors benefit from reliable rental income while planning for the property’s future. Upon lease expiration, buyers have the flexibility to reposition the asset by launching their own business or leasing the space at market rates to ensure a continued strong, income-generating investment.
Nestled in the vibrant and historic Portland neighborhood of Louisville, the dark CVS property at 3130 Portland Avenue stands as a beacon of community health and convenience. The site is not only easily accessible to residents, but also attracts visitors from surrounding areas. Its proximity to major thoroughfares, Interstates 64 and 264, provides swift connectivity to Downtown Louisville and beyond. The area surrounding 3130 Portland Avenue is characterized by a diverse blend of residential housing, local businesses, and community-focused amenities, contributing to a steady footfall and a loyal customer base. This location is further enhanced by its proximity to educational institutions, small eateries, and various retail outlets, enriching the locale with a dynamic mix of services and products. Portland Avenue serves as a key artery of commerce and culture. Investors looking at this property will find an asset with a robust and enduring market presence. Louisville itself is a city on the rise, known for its economic growth and as a logistical hub due to its central location within the United States.
3130 Portland Avenue combines immediate income with long-term potential, perfect for investors seeking their next opportunity.
Property tours are available by appointment only. Please contact the listing broker to schedule.
3130 Portland Avenue presents a prime investment opportunity for buyers. The property consists of 9,300 square feet on a single level, situated on a 0.4-acre lot with ample parking available for both customers and employees. Originally constructed in 1962, the building has been well-maintained and thoughtfully upgraded, establishing itself as a true community landmark. Key features include a convenient drive-thru and the classic CVS architectural style, which together offer strong curb appeal and functionality. Although CVS vacated the property in 2025, nearly three years remain on the lease, which is backed by a solid corporate guarantee. Investors benefit from reliable rental income while planning for the property’s future. Upon lease expiration, buyers have the flexibility to reposition the asset by launching their own business or leasing the space at market rates to ensure a continued strong, income-generating investment.
Nestled in the vibrant and historic Portland neighborhood of Louisville, the dark CVS property at 3130 Portland Avenue stands as a beacon of community health and convenience. The site is not only easily accessible to residents, but also attracts visitors from surrounding areas. Its proximity to major thoroughfares, Interstates 64 and 264, provides swift connectivity to Downtown Louisville and beyond. The area surrounding 3130 Portland Avenue is characterized by a diverse blend of residential housing, local businesses, and community-focused amenities, contributing to a steady footfall and a loyal customer base. This location is further enhanced by its proximity to educational institutions, small eateries, and various retail outlets, enriching the locale with a dynamic mix of services and products. Portland Avenue serves as a key artery of commerce and culture. Investors looking at this property will find an asset with a robust and enduring market presence. Louisville itself is a city on the rise, known for its economic growth and as a logistical hub due to its central location within the United States.
3130 Portland Avenue combines immediate income with long-term potential, perfect for investors seeking their next opportunity.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Register to Bid Instructions
Market Analytics Click Here to Access
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Drug Store
Building Class
C
Year Built
1962
Tenancy
Single
Building Height
1 Story
Lot Size
0.40 AC
Parcel Number
010B00210000
Zoning
C2 - Commerical
Parking
18 Spaces (1.94 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Signage
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Retail Center in Portland Please contact the agent for more information about this listing.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 9,300 SF | Retail | Outparcel | Now |
1st Floor
| Size |
| 9,300 SF |
| Space Use |
| Retail |
| Position |
| Outparcel |
| Available |
| Now |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Floor
| Size | 9,300 SF |
| Space Use | Retail |
| Position | Outparcel |
| Available | Now |
Retail Center in Portland Please contact the agent for more information about this listing.
About Downtown Louisville
At more than 7 million square feet, the Downtown Louisville is among the largest concentrations of retail space in Louisville. Healthcare and logistics represent some of the area’s major industries, and top employers include United Parcel Service, Norton Healthcare, Humana, Ford Motor Companies, and Yum Brands. Downtown Louisville district is easily accessible via several major interstates, including interstates 65 and 265, and is just a 15-minute drive to the Louisville International Airport.
Downtown Louisville is an attractive location for professionals and students alike, and the area is home to several of the city’s most sought-after neighborhoods such as Old Louisville and Germantown. Employers here have access to the region’s top talent from surrounding universities such as the University of Louisville, Bellarmine University, and Spalding University.
Mid-level rents, a growing residential base, and access to urban amenities make Downtown Louisville an attractive location for both retail tenants and investors. Annual investment volume is at record level, and the area is home to several of the market’s top deals in recent months.
Demographics
Demographics
1 mile
3 mile
5 mile
2024 Population
9,792
89,326
206,245
2020 Population
8,995
80,384
195,968
2029 Population
9,884
91,480
210,043
2024-2029 Projected Population Growth
0.9%
2.4%
1.8%
Daytime Employees
1,538
82,993
204,353
Total Businesses
245
6,755
17,997
Average Household Income
$42,960
$49,583
$54,881
Median Household Income
$32,153
$35,641
$39,440
Total Consumer Spending
$77.7M
$787.4M
$2B
Median Age
38.1
38.4
37.5
2024 Households
3,943
37,300
90,304
Percent College Degree or Above
5%
9%
12%
Average Home Value
$95,556
$129,428
$173,457
Nearby Major Retailers
Sale Advisors
Sale Advisors
McKenna Langley, Associate Director
As a dedicated commercial real estate agent with AiCRE Partners, I bring a wealth of expertise and a steadfast commitment to serving my clients’ needs. With a finance and marketing degree from Baylor University earned in May of 2020, I entered the dynamic world of real estate armed with a passion for helping individuals and businesses achieve their investment goals.
Specializing in single-tenant net lease assets nationwide, I have honed my skills in navigating the complexities of this niche market. Whether it’s securing lucrative properties or facilitating seamless transactions, I pride myself on delivering unparalleled service and results that exceed expectations.
Throughout my career, I have closed an impressive $211 million in sales and successfully executed 40 deals, demonstrating my proficiency in negotiating favorable terms and maximizing value for my clients. My track record speaks to my ability to navigate diverse market conditions and capitalize on emerging opportunities, all while prioritizing the best interests of those I represent.
At AiCRE Partners, I am committed to providing personalized attention and tailored solutions to each client, ensuring their real estate objectives are not only met but surpassed. With a relentless work ethic and a dedication to excellence, I am poised to continue delivering exceptional results and forging lasting relationships within the industry
Specializing in single-tenant net lease assets nationwide, I have honed my skills in navigating the complexities of this niche market. Whether it’s securing lucrative properties or facilitating seamless transactions, I pride myself on delivering unparalleled service and results that exceed expectations.
Throughout my career, I have closed an impressive $211 million in sales and successfully executed 40 deals, demonstrating my proficiency in negotiating favorable terms and maximizing value for my clients. My track record speaks to my ability to navigate diverse market conditions and capitalize on emerging opportunities, all while prioritizing the best interests of those I represent.
At AiCRE Partners, I am committed to providing personalized attention and tailored solutions to each client, ensuring their real estate objectives are not only met but surpassed. With a relentless work ethic and a dedication to excellence, I am poised to continue delivering exceptional results and forging lasting relationships within the industry
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
Read More
Auction Contact
Cheri Mascitelli
Contact
Auctioneer License:
Ten-X Samantha Corbat RE Brkr 281541; Arlene Richardson Auctioneer 274628
-
McKenna Langley -
Jason Gribin -
AiCRE Partners
1 of 11
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Value-Add Former CVS | Dark Location | 3130 Portland Ave
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