For Auction
Asset Snapshot
Investment Highlights
Offering Summary
Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, W 5th St, New Albany, IN 47150 is a 0.51-acre (22,215 SF) fee simple urban infill development site at the intersection of W 5th St and W Market St in downtown New Albany, directly across the Ohio River from downtown Louisville. The single-parcel site is a flat paved lot with frontage on both streets, and water, sewer, and gas run along the street serving nearby businesses, positioning it as near shovel-ready. D-Downtown zoning permits a broad range of commercial, mixed-use, hospitality, office, medical, wellness, restaurant, and entertainment uses, giving a buyer flexibility to pursue boutique hospitality, office, retail, or entertainment concepts in a district with limited developable land. Buyers should note that the City of New Albany has a temporary moratorium on new non-owner occupied multifamily residential uses pending a zoning ordinance update anticipated later this year. The site sits just west of I-64, half a block from approximately 5,000 VPD on W 5th St at W Spring St, within a walkable district of restaurants, breweries, boutique retail, and entertainment venues. More than 420,000 residents live within a 10-mile radius, and the broader Louisville MSA of 1.3M residents is anchored by UPS Worldport, Humana, Ford, and Norton Healthcare.
Due Diligence
Location
The site sits at W 5th St and W Market St in downtown New Albany, IN, just west of I-64 and across the Ohio River from downtown Louisville. It is half a block from roughly 5,000 VPD at W Spring St and walkable to breweries, restaurants, boutique retail, and civic amenities, within one of Southern Indiana's most active urban redevelopment corridors.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
