Downtown on State Street 528

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30276424
Property Subtypes: Free-Standing Building, Restaurant, Tavern/Bar/Nightclub, Vehicle Related
Status: Pending
Building Size (RSF): 3,312 SF
Sale Price: $320,000
Unit Price: $96.62 PSF
Property Use Type: Vacant/Owner-User
Building Name: 518-528 State Street
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/13/2018

Overview / Comments

Downtown New Albany continues to be on the move. This site could serve as many things as it is already zoned C-2 which allows for most General Businesses. Think outside the box for a distillery, winery, restaurant or retailer. Previous uses were a car sales lot, Uhaul and an auto service and repair shop. Lots of updates and renovations have been made by the current owner. Building is very clean and has been well kept. Give me a call, lets talk and set up an appt. Mike

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-00-200-067.000-008
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: Oak and Elm Street
Property Visibility: Excellent
Largest Nearby Street: Spring Street
Highway Access: Immediate to I-64 to Louisville or St Louis. Quick connection to I-265 and I-65 which are short distances to the Kennedy, Lincoln and Lewis & Clark bridge into Louisville KY.
Airports: Louisville International and Clark County Regional
Site Description: Has office, 2 restrooms, a wide open bay area with 5 service bays and doors. Large parking lot with fairly recent asphalt covering. Could also be reconfigured to serve as a multi-tenant strip center type space with ease. There is a separate area with a shower and another restroom that was for the service employees that could serve as a common restroom for the tenant merchants. Property is 4 parcels in all. 3 other parcels are: 1) 22-05-00-200-068.000-008 2) 22-05-00-200-069.000-008 (518 State St) 3) 22-05-00-200-070.000-008. 4) 22-05-00-200-067-000.008
Area Description: Downtown New Albany continues to experience a great rate of growth. This area is in need of more smaller retail and service businesses. The bays fit what is in higher demand in and near Downtown. Maybe you have an idea and vision for the property too.
Typical SF / Floor: 3,312 SF
Property Condition: Good
Year Built: 1962
Year Renovated: 2017
Roof Type: Gable
Construction/Siding: Block, Brick
Exterior Description: Mostly concrete block. Brick and wood facade. Newly painted and very well maintained.
Parking Type: Surface
Parking Description: Private lot is not stripped but has more than ample parking.
Heat Type: Natural Gas
Interior Description: Main office, lobby and 2 restrooms at entry and lots of windows for natural lighting. Nicely finished. Third restroom, shower, storage and office that is part of the garage or shop area.
Zoning Description: C-2 General Business.Allows for service businesses, retail, restaurants and much more.
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Main parcel- 1) 22-05-00-200-067.000-008 2) 22-05-00-200-068.000-008 3) 22-05-00-200-069.000-008 4) 22-05-00-200-070.000-008

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,960 77,390 179,902
Median Age: 34.95 36.83 36.53
Households: 5,056 31,728 74,846
The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.