Office for Sale in Louisville, KY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Louisville, KY 40219

Description

Register to bid and access due diligence documents on CREXi: https://www.crexi.com/properties/2487810 Marcus & Millichap is pleased to present a mission-critical pharmacy script validation, call center, and training facility leased to Chewy, Inc. (NYSE: CHWY) under a corporate-guaranteed lease with approximately 3.25 years remaining on the initial term and two five-year renewal options. The lease features 2.5 percent annual rent escalations and a modified gross structure with utility pass-throughs and expense reimbursements above the 2019 base year. Located at 3621 Fern Valley Rd, Louisville, Kentucky, this facility serves as Chewy’s national intake and clinical validation hub. It processes almost all physical hard-copy prescriptions mailed by pet owners (excluding gabapentin), performing required clinical outreach and VCPR verification as the regulatory gatekeeper before orders proceed to fulfillment. This critical first step supports Chewy’s highest-margin compounded pharmaceuticals segment, a key driver of its projected $12.3 billion Fiscal Year2025 revenue. Wall Street Analyst Outlook: Analysts remain overwhelmingly bullish on Chewy, frequently citing high-margin pharmaceuticals and healthcare services as the core driver of expected outperformance. Morgan Stanley named Chewy a “Top Pick” (Summer 2025), highlighting healthcare expansion as a “structural accelerant” with a bull-case target implying up to 70% upside. J.P. Morgan maintained an “Overweight” rating, noting the strategic shift toward higher-margin healthcare revenue. Bank of America reiterated its “Buy” rating, emphasizing the $40 billion pet healthcare market as a major long-term catalyst. Located near Interstate 65 (200,000 vehicles daily) and a signalized intersection (52,000 vehicles daily) in a densely populated trade area, the property benefits from strong regional access and logistics fundamentals. Investment Highlights: • Auction - June 15-17, 2026 | Starting Bid: $1,750,000 • Mission-Critical

Market Context

This office in Louisville, KY is listed for sale. It is offered at an approximate 8.0% capitalization rate, a key benchmark for income-producing office assets. It has been on the market for 68 days. Compare it against other office listings for sale in Louisville, KY — <a href="/search/sale/office/kentucky/louisville">view the full market</a>.

As of Q4 2022, the Louisville office market showed a 21.6% vacancy rate, and average asking rents near $18.00/SF/yr. Source: Cushman & Wakefield Q4 2022 market report.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Office market FAQ

Is the Louisville office market tightening or softening?
Vacancy is around 21.6% (Q4 2022).

Unified Estimate

Very Low Confidence

$15.17/SF – $20.52/SF

Mid: $17.84/SF

Rate-first confidence-weighted blend with cost-of-business adjustment.

No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market columbia (similarity: 100%) with 5 comparable listings.

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