2509 Portland AveLouisville, KY 40212

Property Details for 2509 Portland Ave

Year built

1900

Lot size

0.79 AC

Zone code

C1-COMMERCIAL

Property type

Office buildings

APN

02005F00430000

APU

02005F00430000

Description

This exceptional mixed-use office building, located at 2509 Portland Ave in Louisville, Kentucky, presents a unique investment opportunity. Boasting 10,684 total square feet and 8,090 net rentable square feet, this two-story, Class C building sits on a 0.7-acre lot and was constructed in 1953. The property features 15 parking spaces, including two electric vehicle charging stations, situated in a private lot directly behind the building. The building's prime location along Portland Avenue places it amongst established businesses, including Shaheen's Department Store, Janes Brothers Hardware, Kyros Brewing, and the Outsider Art Museum & Gallery. Currently housing multiple organizations such as Schooler Prep Academy and DeCode Project, the building offers flexible office spaces. A significant renovation in 2018 updated the ground floor, including HVAC systems and two new restrooms. Additional features include a basketball gym and a partially finished basement. The property is zoned C1 and offers a compelling blend of history, modern amenities, and strong tenant occupancy. The asking price is $799,000, translating to $74.78 per square foot. This presents a rare chance to acquire a well-located, multi-tenant office building with significant upside potential in a thriving Louisville neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $4,244,876

  6.5%

  $3,918,348

  7%

  $3,638,466

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,962,185

  Geo Method

  $2,962,185

• Alternative Use

  Use

  Valuation

  Residential

  $4,858,751

  Hospitality

  $4,450,590

  Educational

  $3,702,838

  Medical

  $3,830,185

  Retail

  $5,759,971

Location Insight

City

Louisville

County

Jefferson

State

Kentucky

Latitude

38.2712

Longitude

-85.7892

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].