Rare, Historic, Investment Opportunity
Also listed as Office
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Overview / Comments
PRG is pleased to present this rare, 100% leased, investment opportunity in thriving, historical, Downtown New Albany, IN (Louisville MSA). 130 Main, known as the Elias Ayers Building, is a circa 1836, multi-tenant, mixed use property containing office, retail and apartment tenants. 140 Main is a completely renovated, single tenant, NNN property that is another historical gem- a former 1920’s era gas station. It is leased to a growing coffee shop/bakery user.
This opportunity is situated in the heart of Downtown New Albany and is at the center of the city’s resurgence. It is adjacent to the future New Albany City Hall, which will be located in a $5.6 million renovation of a historic building. It is also just steps from the New Albany riverfront park and amphitheater. Restaurants, boutique shops and new residential growth surround the area. The property contains off street parking, and also takes advantage of the ample free parking in the city owned parking lots abutting the property
This well-maintained offering is priced at a fraction of replacement cost and still contains a value-add component. A purchaser will take advantage of the already stable sub-market, but also enjoy tremendous upside from the new development in the area that will further enhance rent growth, leasability and appreciation.
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