Downtown New Albany Opportunity

Retail-Commercial for Sale
Also listed as Multi-Family
Catylist Listing ID: 30349155
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 26,537 SF
Gross Building Area: See Agent
Sale Price: $1,300,000
Unit Price: $48.99 PSF
Property Use Type: Vacant/Owner-User
Building Name: Centenary United Methodist Church
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/5/2019

Overview / Comments

ALSO LISTED AS A CHURCH. A fantastic opportunity in Downtown New Albany. Also located in the New federal Opportunity Zone (see link provided). Maybe you're not looking for a church home, but what about living space? Something cool, hip and funky with a millennial vibe. We also need more senior housing with some independent living. You could mix it up with co-existence of space that caters to all walks of life. This property offers lots of creative uses. What about a boutique hotel? Great character throughout the main sanctuary. Lots of useable space, huge kitchen, fellowship space, plenty of parking of right in the middle of a rapidly growing Downtown with lots of hustle and bustle. The church reserves the right to remove certain items to include the organ and all furnishings. Discussion as to what might stay is separate from the sale price.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Floyd
Tax ID/APN: 22-05-00-200-120.000-008
Property Located Between: 3rd and 4th Streets
Property Visibility: Excellent
Largest Nearby Street: State Street ad Main Street
Highway Access: Immediate to I-64 and just 5 minutes to Louisville, I-265 takes you to I-65 in 5 minutes. Head to the East End Bridge while on I-265 and be there in 10-15 minutes.
Airports: Clark County Regional Airport, Louisville International Airport
Site Description: Half of a city block from Spring Street to Elm Street, over 1 acre, 2 buildings which is the main sanctuary and the former parsonage used today as a commercial office. Huge parking lot. Property is in the UEZ (Urban Enterprise Zone), the TIF (Tax Increment Financing District) and the Downtown Historic District. On one of the main drags into Downtown.
Area Description: Located in the ever growing and popular Historic Downtown. Fantastic growth has led to residential living, retailers, restaurants winery and breweries and now professional office growth as well. Looking for a place to enjoy breweries, a winery, fantastically rated restaurants of all sorts, residential living above the commercial buildings or in the more modern day apartment development recently completed. Condos, hotel and more on the way. Come join us- Live, Work, Eat and Play!
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1839
Construction/Siding: Brick
Exterior Description: Brick and limestone of the age and full of character
Parking Type: Surface
Parking Description: Private huge parking and free street parking as well.
Interior Description: The sanctuary offers an impressive view, lead glass windows, really high ceilings, open space, class rooms, fellowship hall, kitchen and more.
Zoning Description: C-2 Commercial Downtown District allows for most things commercial. With approval, you can have retail, events, church and other assemblage halls, restaurants, retail, multifamily or other residential products and other uses.
Water Service: Municipal
Sewer Type: Municipal
Legal Description: P. 93 L. 22 L 24 #20 L 21 S 30' L. 23 #21 S 10'L 27 #23-N 30' L 23 #22 PARTIAL RENTAL AV 103,700

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,642 82,618 190,310
Median Age: 34.63 36.4 36.72
Households: 5,312 33,817 79,652
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.