Downtown- 3 Bldgs, 3 Floors, New Roof, Parking plus?

Retail-Commercial for Sale
Catylist Listing ID: 30762297
Property Subtypes: Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 14,576 SF
Gross Building Area: 18,976 SF
Sale Price: $950,000
Unit Price: $65.18 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Usable Size (USF): 18,976 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/22/2021

Overview / Comments

Located in Historic Downtown with 10 blocks of fantastic architecture from the 1813-1930's and modern day build. Neo Classical, Greek Revival, Italianate, Art Decco and many other styles. A riverfront with an amphitheater for shows and entertainment. Downtown has experienced some unbelievable growth over the last 15 years. A huge YMCA, urban living with studio, lofts and luxury apartments. Winery and breweries, art and museums, boutique shops and a great variety of casual upscale restaurants, grab and goes, entertainment venues, a really fantastic Farmers Market. Plenty of things to do, 5 minutes to Louisville for those who like the bigger City, Close to the airport, plenty of employment options not only Downtown but in the Southern Indiana Business and Industrial Parks. The bldg is 3 floors and basement, existing restaurant and pub on 1st flr, finishes needed for the 2nd & 3rd flrs, office or apartments, you can do alot with 14576 Sf + 4400 Sf basement. New roof with transferable warranty.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-00-200-309.000-008
Zoning: D- DOWNTOWN COMMERCIAL
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: Pearl and Bank Streets
Largest Nearby Street: State Street
Highway Access: Immediate to I-64, I-265 and I-65 plus 5 minutes across the Sherman Minton Bridge and you're in the Big City life for those who choose to have that interest. Or, like most, just enjoy small town USA.
Airports: Louisville International, Clark County Regional Airports
Site Description: 3 buildings, 3 floors plus 4400sf of basement area that the 1st floor tenant normally uses for storage, 3 addresses which if you are approved means at least $7500 in free rant money with equal match, directly across from the newly and complete renovation of the $$ multi-million dollar City Hall for New Albany. A nice addition on the property is some private parking is included behind the building. It is included in the transfer of this sale.
Area Description: What a transformation Downtown New Albany has experienced over the last 15 years. So much has been done, great independent restaurants, bakeries, banks, conveniece stores with fuel, pubs, entertainment, farmers market, high-end private lofts and luxury apartment living (when available). So much more can, will and is coming. Look for more apartments, more lofts on 2nd and 3rd floors and events are coming back too. There are also some national brand restaurant
Total Number of Buildings: 3
Number of Stories: 3
Property Condition: Excellent
Construction/Siding: Brick
Exterior Description: Brick, several tall doors that open to the sidewalk, to the rear of the building a portion of it has an employee break area or could be private area for restaurant or pub patrons. Multiple entry doors make it available for separate 2nd and 3rd floor apartments or offices.
Total Parking Spaces: 8
Parking Type: Surface
Parking Description: There are 2 parcels of land that are to the rear of the building that will be sold with the building.
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: Lots of exposed brick, some areas are framed and have drywall covering. 1st floor has operated as antiques sales, various retail storefronts, pubs and restaurants as it is now. Commercial kitchen with hood and various equipment on the first floor. Several front back and side door access to the buildings. Lots of windows on each floor,
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; W 20' L 14; UP HIGH, P 93; MID 20' L 14, P 93; SE 20X80' L 14 & W; 6X80'; L16 bldg and 2 lots

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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

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