Downtown Professional Office Bldg

Office for Sale
Catylist Listing ID: 30061668
Property Subtypes: Office Building
Building Size (RSF): 8,172 SF
Gross Building Area: See Agent
Sale Price: $1,250,000
Unit Price: $152.96 PSF
Property Use Type: Vacant/Owner-User
Building Name: 223 E spring St
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/14/2018

Overview / Comments

Renovated and updated with a modern office flare in 2009 & 2010. Absolutely a great professionally finished space. Professional office setting served as (and still serving as) an Atty office. Previously served as a bank and the 5 drive thru lanes (4 reg & 1 ATM) are still in place, which makes it attractive to banks or credit union operations. Elevator, 2 huge walk in safes, 26 private off street parking spaces, more parking to include free street public parking on side streets. On main access street into Downtown and just up the street from the brand new 191 apartment units (Break Water) that will grow Downtowns population quickly. Proposed condos Fall 2017 with 14 -15 units on the river with a view. This building would be great for corporate space, medical, credit union, bank, attys and many other possibilities. Our Downtown has experienced tremendous growth over the last 10 years with businesses as old as 185 years old, over 5000 employees, 450 businesses and over 165 of those occurred in the last 10 years. Downtown New Albany is becoming known as a “cool, hip and funky kinda a place to "live, work and play”. Just ask the many new residents coming out of Louisville. State of the art $25 million dollar YMCA was built just blocks away with over 10,000 members. Winery, breweries, several types of restaurants, delis, bakeries, ice cream and more. This property is in the River Front Redevelopment District that allows for 3-way liquor license (if you desired one at this location). Facade Grants are available. Horseshoe Foundation offers upto $50,000 to help your business start or grow. Downtown offers great architectural features with many buildings dating over 180 years old for most. Come see what's new in New Albany- A Great Historical Downtown.
Call or email me with interest. Mike

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-00-200-144.000-008
Property Located Between: Elm & Main
Property Visibility: Excellent
Highway Access: Immediate to I-64 which makes I265 and I-65 quick and easy. I-64 exit 123 is immediate to Sherman Minton Bridge so just 5min away.
Airports: Indianapolis and Louisville International Airport and Clark County Airport (now expanding)
Site Description: Great location. Private parking. High visibility. Walk to all of the action in Downtown. Professional setting. Multiple entry/exit for easy access on to property. Nice office appeal.
Area Description: Downtown as you likely know has been growing and growing. More residents, renovations, new businesses and just an overall improvement in the quality of life Downtown.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 3,666 SF
Year Renovated: 2010
Roof Type: Flat
Exterior Description: Brick with professional finish and design.
Parking Description: Private and free on street parking as well.
Total Parking Spaces: 26
Passenger Elevators: 1
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: Professional modern contemporary finish and design.
Zoning Description: Medium to Large General Business. Downtown District Business, Service, Retail and Restaurants.
Water Service: Municipal
Sewer Type: Municipal
Legal Description: P 93 L 20 UP SPR. ALL L 22 FNT 60' L 24 S REAR 30' L 23-#11 W REAR 60' L 24 S REAR 30' L. 21-#09 (Main parcel. There are 3 parcels in all)

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,642 82,618 189,690
Median Age: 34.63 36.4 36.72
Households: 5,312 33,817 79,382
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