2+ Acres In Commercial Redevelopment District

Vacant Land for Sale
Catylist Listing ID: 30817670
Property Subtypes: Hospitality, Multi-Family, Office, Retail
Gross Land Area: 2.79 Acres
Sale Price: $25,000,000
Unit Price: $8,960,573 Per Acre
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 9/26/2022

Overview / Comments

Over 2 acres (8 different parcels) available in a purposed redevelopment area at the beginning. Per the Spring Street master plan “As a direct connection to the northern parts of Jeffersonville, Clarksville, and beyond Spring Street serves as a significant gateway to this area of significant investment and renewal.” http://cityofjeff.net/wp-content/uploads/2020/10/Spring-Street-Master-Plan-2017-Final-sm.pdf These properties line Spring Street in Jeffersonville and sits at the end of Eastern Blvd in Clarksville Clark County IN growth rate was 11% in 2021 https://usafacts.org/data/topics/people-society/population-and-demographics/our-changing-population/state/indiana/county/clark-county. According to the Claysburg Revelation Plan https://louisville.edu/cepm/pdf-files/copy_of_pdf/claysburg-neighborhood-revitalization-plan they propose streetscape improvements including fixing the streets and sidewalks, economic development by helping businesses with grants and funding programs, and asking for federal money for housing. There are multiple grants available for redevelopment of this area – please reach out for the information. The growth in the area is just beginning, over the next 2 years the city of Jeffersonville thru its Redevelopment Commission executed a Redevelopment Agreement. They plan to partner with American Commercial Barge Line (ACBL) to develop 80 acres along the Ohio river just 2.3 miles away from this once in a lifetime investment opportunity.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Clark
Tax ID/APN: 10-20-00-800-140.000-010
Zoning: C1
Property Visibility: Excellent
Largest Nearby Street: Spring Street
Highway Access: I-65, I-265, I-64
Airports: Louisville International Airport- 13.5 miles

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,257 96,593 257,755
Median Age: 35.82 36.62 37.16
Households: 3,878 42,031 111,475
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