2318 Portland Ave

Unique Historic Space with 20’ Ceilings: Studio, Office, or Potential Live/Work

Marketing description

Rare opportunity to acquire a historic, highly adaptable commercial building in Louisville’s Portland neighborhood. Originally constructed in 1926 as the Portland Health Center and gifted by Mrs. J.B. Speed, this all-brick property carries a documented civic history, with a commemorative plaque still in place. Over time, the building has supported a variety of uses including law offices, political headquarters, artist studios, and music rehearsal space—demonstrating its long-standing functional flexibility.

The property offers approximately 2,814 total square feet (1,473 SF main level and 1,341 SF lower level) and is zoned C-1 Commercial, allowing for office, retail, studio, or live/work configurations. The main level features a dramatic central space with approximately 20-foot ceilings, abundant natural light, and multiple surrounding rooms, while the partially above-grade lower level provides additional usable space with windows on three sides, private offices, and a full bath.

Additional improvements include a commercial-style kitchen (not certified), 2.5 total baths, and a rear caretaker’s room. The site also includes an approximately 28-foot-wide side lot and rear access via easement to North 24th Street, offering flexibility for parking, deliveries, or future expansion.

Located within an Opportunity Zone and TIF district, the property combines immediate usability with long-term repositioning and investment potential in one of Louisville’s established urban neighborhoods.

Investment highlights

Positioned in Louisville’s evolving Portland corridor, this 1926 all-brick property presents a compelling owner-user or value-add investment opportunity. Zoned C-1 Commercial, the asset supports a wide range of uses including office, retail, studio, or potential live/work configurations, allowing for flexible repositioning. The building’s layout features a dramatic central space with approximately 20-foot ceilings, multiple private rooms, and a partially above-grade lower level with natural light—well-suited for adaptive reuse or multi-tenant potential. An additional side lot and rear access enhance site utility with options for parking or future expansion. Located within an Opportunity Zone and TIF district, the property offers both immediate usability and long-term upside in a strengthening urban submarket.

Property is currently occupied on a month-to-month basis. Tenants are in the process of vacating. Please do not disturb tenants.

Showings by appointment only. Text 502-208-9615 to schedule from 2pm to 6 pm daily.