111 W Hazel St 7,504 SF Flex Building Albion, IN 46701 $539,000 ($71.83/SF)

109-111 W Hazel Street | Albion, Indiana
Downtown Commercial Property with Renovated Apartment & Flexible Use Potential
Exceptional opportunity in the heart of downtown Albion! 111 W Hazel Street offers a unique combination of commercial space, redevelopment potential, historic character, and residential income possibilities—all within Albion's downtown Courthouse Square area.
This substantial property offers approximately 3,500 square feet of open commercial space, along with additional areas and a beautifully renovated upper-level apartment, creating numerous possibilities for an owner-user, investor, entrepreneur, or developer.
Flexible Commercial Space
The main commercial area is currently configured with approximately 10 perimeter offices, allowing the center portion to remain relatively open. The layout provides tremendous flexibility—the offices could be retained for professional or multi-tenant use or potentially removed to create a large, open-concept space.
The building's construction and layout lend themselves to a wide variety of concepts, including:
Professional or medical offices
Retail/showroom space
Boutique or specialty retail
Small-business incubator or shared office environment
Event or wedding venue
Studio, training or educational space
Service-oriented businesses
Creative or collaborative workspace
Other uses permitted by zoning and local approval
The existing commercial space includes restrooms that can remain in place while the surrounding space is reconfigured. Above the existing drop ceiling is structural character that could potentially be exposed to create a more modern industrial/open-ceiling appearance.
Beautiful Upper-Level Apartment
One of the property's standout features is the beautiful upper-level apartment. Rather than simply offering commercial square footage, this property provides the opportunity to combine business and residential uses under one roof.
The apartment could be attractive for an owner who wants to live where they operate their business, provide housing for an employee or manager, or generate additional rental income. Its condition and finish make it an important component of the property's overall value and versatility.
Downtown Albion Location
The property is in the heart of Albion near the Noble County Courthouse and established downtown businesses.
The property is located within Albion's Courthouse Square area, where the surrounding architecture and historic downtown setting create a character that is increasingly difficult to duplicate with new construction.
Historical research indicates development on West Hazel Street dates well into the 1800s, while available historical mapping suggests the present building configuration developed during the early 20th century. The property was also historically associated with the Albion Eagles / Fraternal Order of Eagles Aerie #2455, adding another interesting chapter to its local history.
Zoning Creates Opportunity
The property's zoning and downtown location are major components of its potential. Prospective purchasers should review their intended use with the Town of Albion, but the property presents opportunities for a variety of commercial, professional, residential and adaptive-reuse concepts.
For an investor or entrepreneur willing to think beyond the building's current configuration, the possibilities are significant. The existing perimeter-office layout can accommodate businesses immediately, while the large interior footprint offers the ability to rethink the space entirely.
Imagine an open retail marketplace with individual vendors, a small-business incubator with shared amenities, professional suites, an event venue with an industrial downtown atmosphere, or a combination of commercial operations below and residential income above.
A Property with Multiple Paths Forward
What makes this property different is that there isn't just one obvious use.
An owner-user could operate a business downstairs and utilize or lease the apartment. An investor could pursue multiple income streams. A developer could reposition the commercial area around a completely new concept. An entrepreneur could take advantage of the existing offices without undertaking a major buildout.
The building already has the square footage, downtown location, established infrastructure, residential component, and character. The next owner gets to determine what comes next.
This property represents a rare opportunity to acquire a substantial downtown Albion property with commercial space, a beautifully renovated apartment, flexible configuration, historic character and exciting adaptive-reuse potential.
Bring your business, investment strategy, or redevelopment vision and explore what this unique downtown property can become.