Downtown Across for New City Hall

Retail-Commercial for Sale
Catylist Listing ID: 30862429
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 6,748 SF
Gross Building Area: 10,122 SF
Sale Price: $800,000
Unit Price: $118.55 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/15/2024

Overview / Comments

Purchase Opportunity in Downtown New Albany across from the New City Hall. Currently has 2 tenants paying rent. 1st floor is a recreational retailer and the 2nd floor has a local training school. There is also a full basement that has separate access from each of the 2 tenants by accessing the side alley entry door. Rent Roll is available with a client signed (NDA) Non Disclosure Agreement. Downtown continues to show great promise, with lots of great retailers, several urban style upscale apartments, restaurants, wineries, breweries, all levels of govt offices, auto services, medical and health services, financial, legal and civil offices and a VERY Walkable Downtown. Ample street parking and just feet away from City owned free parking lot. Available incentives if you qualify include a $1000/yr 3 way liquor license, UEZ, TIF, Historic District and Casino Funds upto $50,000. Let me know when you want to take a look!

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-00-200-197.000-008
Largest Nearby Street: State Street
Highway Access: Immediate to I-64, which catches I-265 and then I-65. Head North to Indy or all of the Interstate connection s have bridges to the East, West and Downtown Louisville. All take about 5 minutes.
Airports: Indianapolis and Louisville International Airport, Clark County Airport
Site Description: Historic Downtown District with 10 blocks of great architecture with lots of restaurants, retail, offices, service and financial businesses and all levels of government with the new New Albany City Hall across the street and County, State and Fed Office 3 blocks away.
Area Description: River Town with a great history located in Southern Indiana across from Louisville Kentucky. There Is a bridge that land at the foot of Downtown and the are is greatly supported by our Kentucky neighbors. Not far from the Casino, near all of the services, restaurants, retailers and government of all levels. A fantastic and very walkable Downtown with several living options whether in some of the apartment developments, private individuals that rent the 2nd and 3rd floors of their buildings of just living in one of the nearby homes in the historic district. It really is a place that just feels good to live in- come see for yourself! Visit Downtown New Albany.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 3,374 SF
Property Condition: Good
Year Renovated: 2019
Construction/Siding: Brick
Exterior Description: Typical period somewhat Italianate style.
Parking Type: Surface
Parking Description: Free street and immediate vicinity to the largest free City owned parking across the street behind the new City Hall.
Heat Type: Electricity, Natural Gas
Interior Description: Exposed brick, original wood floor on 1st floor, high ceilings, plenty of restrooms, extra restrooms upstairs, basement for storage
Zoning Description: D- Downtown Commercial offers a tremendous variety of uses that compliment the value of a historic Downtown. You are also in a TIF District, Historic District, Riverfront Redevelopment District which offers a 3-way liquor license for $1,000.00 and an Urban Enterprise Zone (UEZ). Various incentives apply if qualified.
Water Service: Municipal
Sewer Type: Municipal
Legal Description: P 93 E 1/2 L 12 UP HIGH; TIF

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,228 83,070 195,397
Median Age: 36.94 36.32 36.71
Households: 5,190 33,991 81,737


Photograph of Listing Agent

Michael A Kopp

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