Price Reduced Listing
624 State Street,New Albany, IN 47150
New Albany, IN 47150
Description
Excellent commercial investment opportunity offering three solid leases, $220,000 in annual net operating income, and an asking price reflecting a nearly 8% capitalization rate. Situated on a corner lot in a high-traffic area, this property features strong visibility and ample parking. The lease portfolio includes Dollar General with five years remaining, national tenant Bumper to Bumper, and a master lease guaranteed by the current owner for five years. Investors also have the opportunity to place their own tenant in the master-leased space at a higher rental rate, creating potential for increased income and long-term value. An attractive combination of established tenants, income stability, and leasing upside. All lease details are on file and are available upon request
Details
| MLS # | 2026011996 |
|---|---|
| Listing Type | For Sale |
| Style | Retail |
| Sub-Type | Resale |
| Status | Active |
| Year | 1949 |
| Days On Site | 33 |
| Listing Provided By | BHG Realty | Missie Hayden |
Features
| SQ Feet | 26,812 |
|---|---|
| Acreage | 1.34 |
Taxes
| Tax Annual Amount | 19558 |
|---|
Area Information
| State | IN |
|---|---|
| County | Floyd |
| City | New Albany |
| Zip Code | 47150 |
| Listing VS Median (in 47150) | |
Price: $2,700,000 low | high Med: $242,500 sqft: 26,812 low | high Med: 1,656 $ / sqft: $101 low | high Med: $146 On site: 33 low | high Med: 65 | |
Market Activity 47150
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Learn More About This Property
| State | IN |
|---|---|
| County | Floyd |
| City | New Albany |
| Zip Code | 47150 |
| Listing VS Median (in 47150) | |
Price: $2,700,000 low | high Med: $242,500 sqft: 26,812 low | high Med: 1,656 $ / sqft: $101 low | high Med: $146 On site: 33 low | high Med: 65 | |
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