UpTown New Albany- Across From NAHS

Retail-Commercial for Sale
Catylist Listing ID: 29676425
Property Subtypes: Free-Standing Building, Restaurant, Street Retail
Building Size (RSF): 8,356 SF
Gross Building Area: 10,944 SF
Sale Price: $300,000
Unit Price: $35.90 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/14/2018

Overview / Comments

What a fantastic historical building that offers a lot of space, 2 floors, large and smaller spaces for office, retail, restaurant or even medical. This could be the live and work location for you. You could live upstairs and lease the first floor to tenants, lease the upstairs to residents or office users and have your operation on the first floor. As you can see, you have many options. Both private off street parking and public street parking. This property is a great property and the building looks and feels very good as you get a feel of the character and flow of the entire space. It really is a fantastic opportunity for a person to live and operate their business or businesses. Pictures help, but a personal visit will seal the deal for you as it has a number of configurations for any business. The City of New Albany is undertaking efforts to make UpTown shine. Its a long established area of several service businesses. This property is across from one of Indiana’s largest high schools, so just think of the number of cars, parents and potential customers you get from people driving by, students picked up by parents, driving students, games and other school events and more than you can imagine in a very concentrated area for maximum exposure. The owner has been a fixture in the community for more than 25 years as a home interior designer. There have been some recent changes along Vincennes Street with some homes being renovated, some business buildings being renovated and some new name brands for services arriving. This area is undergoing a transformation with local residents and business owners attempting to draw more business to the area in collaboration with the Main Street group that is a not for profit group that promotes activities in Downtown New Albany known as Develop New Albany. Other happenings include a large warehouse that was recently converted to a community church (Forward Church), historic building at Elm and Vincennes St recently purchased will become German Mutual Insurance, At E Market and Vincennes the building was renovated and now has a paint supplier. The former Market Boy and Tommy Lancasters have been demolished making way for a future development. There is also an effort underway to open the RxR Bridge for walk and biking use similar to the Big Four in Jeffersonville. Bush Keller Sporting Goods owners bought the business awhile back and now own the building too. The owner of 1001 Vincennes Street operated for over 30 years and 20 plus were at this location as an Interior Designer. There is storage space on both floors to the rear of the building, several offices upstairs, several showroom style spaces that are open and offers many uses. The entire building shows extremely well and has so much character with the exposed brick, ceiling tins, rich deep wooden floors and much of what makes the historical buildings into the showplaces they are. Be sure to view pictures and other attachments to include history (photos and document tabs). Call or email me for an appt.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-04-200-643.000-008
Market Type: Medium
Retail Clientele: General, Family, Business, Recreation
Property Located Between: Beeler and Locust St
Side of Street: West
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: Spring Street
Transportation: Bus, Highway, Airport, Taxi
Highway Access: Interstate access includes I-64, I-265, I-71 and I-65
Airports: Louisville International Airport and Clark County Airport (now expanding)
Site Description: Near local churches, rooftops, high school, service businesses, retail, franchise and independents. Well known area.
Area Description: Uptown, like Downtown is undergoing a transformation as investors buy some of the historical homes along Vincennes St, some historical stand alone buildings being renovated and occupied by insurance and paint businesses, recently an empty warehouse has become a growing community church, and one of the areas favorite Mexican restaurants has returned to 1515 E Market near Vincennes. Other commercial acquisition activity is happening and more soon.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Construction/Siding: Brick
Exterior Description: Brick with many windows across the front, optional access doors on the front, sides and to the rear and lots of historical character.
Total Parking Spaces: 10
Parking Type: Surface
Parking Description: Private parking is included on the property and street parking is available. There is a large church parking lot and they may consider allowing use but that is a discussion the buyer must have with the church for approval.
Interior Description: What a feel this place has. The exposed brick walls, wooden floors, openness, window views, staircase and layout is absolutely wonderful and could serve any business well if this suits your need.
Zoning Description: C- 1b is local business and allows for many operations as you will see with a visit to the area. There are many types allowed and similar to some of the most popular uses.
Legal Description: P.63 L.3 & S 1 1/2 L.5

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,884 78,974 190,102
Median Age: 35.09 37.1 37.27
Households: 5,954 32,139 80,273
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