Downtown Newly Renovated Retail & Office

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30752833
Property Subtypes: Restaurant, Street Retail, Tavern/Bar/Nightclub
Status: Pending/Contingent
Building Size (RSF): 9,504 SF
Gross Building Area: 12,276 SF
Sale Price: $1,200,000
Unit Price: $126.26 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Usable Size (USF): 12,276 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/22/2022

Overview / Comments

Downtown New Albany is alive and well. Here is yet another fantastic renovation on the exterior and interior. Inside you have all new HVAC, Electrical, Water Heaters, Restrooms, Plumbing and all floors are equipped with a sprinkler system in the basement and on all 3 upper floors (also brand new). The space is 3 stories on top of a basement that is sprinkled, has a new basement concrete floor, all new lighting and is great for storage. The first floor is apprx 3960 SF (now leased), exposed brick, 2 nicely finished restrooms, high ceilings. There are stairways out front and to the rear set up for separate entry if needed with separate locking doors. The front has separate try for the second and 3rd floors are apprx 2772 SF and each floor is also separated with locked door access which is accessible again from rear or front of bldg. The second floor is ready for drywall and could possibly be 2 residence and or office use. The third floor is finished out with a fantastic open space, exposed brick, new restrooms and a really nice kitchen. More to see!

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-00-200-317.000-008
Retail Clientele: General, Family, Business, Traveler, Casino
Property Located Between: Main at Market Streets
Property Visibility: Excellent
Largest Nearby Street: State and Spring Streets
Highway Access: Immediate to I-64, I-265 and I-65. Just 5 minutes and you could cross the bridge and be in Downtown Louisville KY
Airports: Louisville International, Clark County Regional Airports
Site Description: Smack dab in the heart of Downtown New Albany in the mix of all of the restaurants, winery, breweries, boutique shops, professional services, all levels of government (Fed,State,County and City Offices) and some fantastic luxury apartment living plus some really cool, hip and funky renovated loft, studio and 1, 2 or 3 Bedroom apartments. Also a Farmers Market that you will love. 213 & 215 Pearl St
Area Description: Hot Growth Historic Downtown area for the last 15 years despite the Pandemic with some of the most pleasing architecture and history you can imagine. Sets along the riverfront and is a All American City small town feel. Close to the big City needs if desired.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 2,772 SF
Property Condition: Excellent
Year Built: 1892
Year Renovated: 2021
Roof Type: Other
Construction/Siding: Brick
Exterior Description: Newly rehabbed, tuck pointed, recut and restored limestone lintels, new windows and a very fresh new look that is restored original work.
Parking Type: Other
Parking Description: Street parking and free City parking nearby
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: You can tell by the pictures you get to keep the historic appeal along with the new modern day conveniences with all new materials, HVAC, carpet, flooring, lighting, paint and very tastefully finished.
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 N 33.4' L. 12 TIF

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,959 83,070 191,514
Median Age: 37.13 36.32 36.61
Households: 4,665 33,991 79,805


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