www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
22283177
22283176

3980 Dixie Hwy, Louisville, KY 40216

BP
GA 349355
CBRE - Atlanta
TC
GA 374849
CBRE Atlanta
CH
KY 71469
CBRE Louisville
Listed by CBRE - Atlanta, CBRE Atlanta, CBRE Louisville
$3,208,846
446 days on market
Updated 85 days ago

Walgreens: Louisville, KY (Dixie Hwy)

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 13,905
Cap Rate 6.5%
NOI $208,575
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Expiration 05/30/2039
Remaining Term 13
Rent Bumps Yes
Lease Options Twelve 5-Year Options
Year Built 196
Acreage 1.570
Parking Spaces 81 spaces
Parking Per SqFt 5.83
Investment Type Net Lease
Lease Commencement 05/21/2024

Retail | 6.50% CAP | 13,905 SqFt

Marketing description

The CBRE Net Lease Property Group is pleased to offer for sale the 13,905-square-foot Walgreens positioned on 1.57 acres in Louisville, Kentucky (MSA Population: 1.3M+). The site is subject to a ±13.2-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.

Investment highlights

NNN LEASE WITH RENEWAL OPTIONS: The site is subject to a ±13.2-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.

EXCELLENT ACCESS & VISIBILITY: Located less than 5 miles south of downtown Louisville, Walgreens is positioned with excellent access and visibility at the signalized intersection of Dixie Highway (26,507 VPD) and Crums Lane (14,268 VPD).

RETAIL & COMMERCIAL CORRIDOR: In total, there are 4.3 MSF of retail, 1.5 MSF of office, 16.8 MSF of industrial and 10,703 multifamily units within a 3-mile radius. Major retailers in the surrounding area include Harbor Freight, Rent-A-Center, AutoZone Auto Parts, Dollar General, Foot Locker, GameStop, a Ford dealership and a Nissan dealership, to name a few.

LOUISVILLE-JEFFERSON COUNTY, KY-IN MSA: Louisville, the state’s largest metropolitan area (MSA Population: 1.3M+), is a vibrant riverfront city with a rapidly growing population, diversification of employment and attractive multifamily supply/demand balance. Known for hosting the annual Kentucky Derby and its horse-racing industry, the metro is a nationally recognized regional distribution and warehousing hub serving major operations including Amazon.com, UPS, Ford Motor Company and General Electric, among many others. With a very successful series of major distribution facilities now open and future capital investments in distribution parks planned, Louisville continues to be the focus of institutional investment.

Listing Contacts

BP
GA 349355
CBRE - Atlanta
TC
GA 374849
CBRE Atlanta
CH
KY 71469
CBRE Louisville
Listed by CBRE - Atlanta, CBRE Atlanta, CBRE Louisville

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$208,575.00
$17,381.25/mo

Valuation Metrics

0
DSCR
6.5%
Cap Rate
6.5%
ROI

Map

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591