Reisz Furniture Bldg

Sold Retail-Commercial
Catylist Listing ID: 29530898
Property Subtypes: Street Retail
Property Type: Retail-Commercial
Archived As: Sold

Overview / Comments

The Revitalization of Downtown is ALIVE and well. This building is located in the heart of Downtown New Albany in the Historic District. Tax incentives and some grant funds may be available and are requested through the City of New Albany. Downtown has businesses as old as 178 years, 4500 employees, over 400 businesses, over 120 new businesses in the last 7 years like Comfy Cow, Wicks Pizza, Toast on Market, Mariposa Fine Consignment Boutique, River City Winery, Quills Coffee, Louis Le Francais, Coppermoon Gallery, Salon b, Primos Deli, Bread and Breakfast, The Opal Gypsy, Dress and Dwell (tripling its size summer 2015), The Exchange Kitchen and Pub, Feast BBQ, Habana Blues (Cuban Restaurant relocated in new Downtown space with 2000sf more), Dragon Kings Daughter, UpTown Art, Bank Street Brew House, Colokial (tripling its size in summer 2015), Sew Fitting (tripled its size Spring 2015), VapeWorks Lounge, True North, Seeds and Greens (grocery and deli), Floyd County Brewery (Summer 2015), "The Underground Station" which will include several retailers and food shops in one area at 37 Bank Street, Bred & Breakfast and many more. The $25 million dollar YMCA is great and improves the quality of life for about 10,000 members. Great architectural features, supportive fellow business owners and a continuation of “Downtown Beautification”. Come see what's new in New Albany- A Great Historical Downtown. Come see why Downtown New Albany is flourishing in a down economy, and why you should join the effort.

The Riverfront Redevelopment District which, if you qualify, can allow you to secure a 3-way liquor license (beer, wine and liquor) for a mere $1000 a year. The license is not portable meaning it stays as long as the business stays and is transferable at the location its tied to.

Situated between Main Street and the Ohio River. The main bldg, known as the Reisz Furniture Building is a 3 story brick with basement and a lot of windows. This building has drawn interest from those that do condo/apt conversion. The main structure is likely the best to use for renovation offering 3 stories and a basement. Each floor is about 5280sf. The addition to the south would likely be removed to allow for private street level parking. There is plenty of City parking which is the lot to the south of the site.

Come be a part of the action and continued the continued revitalization creating a new life in one of our great "Historic Downtowns" in Southern Indiana. The City of New Albany officials in the Redevelopment Department can help with projects and answer questions you may have. The City has offered additional incentives that vary with the size and investment cost of the proposed project.

Attachments & Media

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-00-200-543.000-008
Zoning: DOWNTOWN COMMERCIAL BUSINESS DISTRICT
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Casino
Property Located Between: Main Street, Pearl Street and Bank Street
Side of Street: South
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: State Street
Transportation: Bus, Taxi
Highway Access: Immediate access to I-64, I-265 and I-65 and just a few blocks away from the Sherman Minton Bridge connecting to Louisville KY
Site Description: Situated on Main Street within feet of the riverfront, the YMCA and a downtown that continues to experience growth unlike anything over the last 30 years.
Area Description: Historic Downtown is rich in history from the building of steamboats, introducing the first sheets of plate glass be manufactured for buildings, 10 blocks of great architecture, easy walkability, lots of independent restaurants and businesses, 2 blocks from all government offices to include local, state and federal. Events throughout the year to include the Harvest Homecoming which is the second largest festival in Indiana bring a half million people in 4 days. Southern Indiana is a great place to raise a family in the traditional Midwest setting as there are several environments to experience whether you are looking for a country setting, medium city of a bigger city like Louisville KY. More jobs are coming to Southern Indiana, 2 bridges are being built, homes being built and more and more folks want to live, work and play in our downtown areas.
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 5,280 SF
Property Condition: Fair
Construction/Siding: Brick
Exterior Description: Common look for a light industrial style warehouse in its time, Picture shows large windows and plenty of them. Brick all the way up and around.
Parking Type: Surface
Parking Description: Adjoins a huge City parking lot and other street parking and if the building addition to the south was removed you could have private lot.
Interior Description: Open floor plan. It does have center support post which were common for the period. Not open span but is wide open with very few interior walls. No load bearing walls except that where brick walls are between the added building which was an expansion and in the lower level which provides the foundation for the center support post.
Zoning Description: C-2 which is like a Downtown Business District that allows for a tremendous amount of options from office, retail, service, restaurants, recreational, attractions and residential for single, multi-family and condos.
Legal Description: NOTE: Since the sale of the adjoining lot was just purchased a change will appear and this purchase will include lot 13 (west) and a portion of lot 12 (south) being the south lot of lot 13 & 15 (40ft of the western portion of lot 12)

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,594 84,063 195,397
Median Age: 37.05 36.31 36.71
Households: 4,903 34,342 81,737

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