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138 E Market St - The Grand 12,000 SF Specialty Building Offered at $1,400,000 in New Albany, IN 47150
Investment Highlights
- Heavy traffic
- Renovated in 2002-2003
- Turnkey
Executive Summary
Welcome to The Grand, a beautifully maintained and highly sought-after event venue located in the heart of historic downtown New Albany. Located at 138 E Market Street, this established property offers a rare opportunity to acquire a fully operational, income-producing venue with a strong reputation for hosting weddings, receptions, proms, corporate functions, and private events.
Designed with both elegance and functionality in mind, the venue features a versatile layout that accommodates a wide range of gatherings, complemented by timeless architectural details that create a warm and inviting atmosphere. Its prime location—just minutes from Louisville with convenient access to major highways—continues to draw both local and regional clientele.
This is a true turnkey offering, including over $200,000 in existing inventory and equipment. The sale includes tables, chairs, linens, a fully stocked kitchen, coolers, prep equipment, a press, and more—allowing a new owner to step in and operate immediately without significant upfront investment. The City of New Albany has plans to restore and update the iconic marquee and exterior sign, which will significantly enhance the property’s curb appeal and street presence once completed.(New Albany also offers access to various business development incentives and grant opportunities, including funding initiatives available throughout the downtown and riverfront districts. The Caesars Foundation has historically awarded substantial grant funding to qualifying businesses and redevelopment projects along the river corridor — in some cases reaching up to $500,000.) These potential resources, combined with the continued revitalization of downtown New Albany, make this a unique opportunity with strong upside potential.
Whether you are an investor or an entrepreneur entering the thriving events industry, The Grand offers income potential with room for continued growth.
Showings by appointment only. Visit https://grandnewalbany.com/gallery for additional photos!
Designed with both elegance and functionality in mind, the venue features a versatile layout that accommodates a wide range of gatherings, complemented by timeless architectural details that create a warm and inviting atmosphere. Its prime location—just minutes from Louisville with convenient access to major highways—continues to draw both local and regional clientele.
This is a true turnkey offering, including over $200,000 in existing inventory and equipment. The sale includes tables, chairs, linens, a fully stocked kitchen, coolers, prep equipment, a press, and more—allowing a new owner to step in and operate immediately without significant upfront investment. The City of New Albany has plans to restore and update the iconic marquee and exterior sign, which will significantly enhance the property’s curb appeal and street presence once completed.(New Albany also offers access to various business development incentives and grant opportunities, including funding initiatives available throughout the downtown and riverfront districts. The Caesars Foundation has historically awarded substantial grant funding to qualifying businesses and redevelopment projects along the river corridor — in some cases reaching up to $500,000.) These potential resources, combined with the continued revitalization of downtown New Albany, make this a unique opportunity with strong upside potential.
Whether you are an investor or an entrepreneur entering the thriving events industry, The Grand offers income potential with room for continued growth.
Showings by appointment only. Visit https://grandnewalbany.com/gallery for additional photos!
Property Facts
| Price | $1,400,000 | Building Size | 12,000 SF |
| Price Per SF | $116.67 | No. Stories | 2 |
| Sale Type | Investment or Owner User | Year Built/Renovated | 1921/2002 |
| Property Type | Specialty | Tenancy | Single |
| Property Subtype | Lodge/Meeting Hall | Parking Ratio | 0.5/1,000 SF |
| Building Class | C | Cross Streets | Pearl St |
| Lot Size | 0.18 AC | Opportunity Zone |
Yes
|
| Zoning | Commercial - Commercial/ Comm City Downtown District | ||
| Price | $1,400,000 |
| Price Per SF | $116.67 |
| Sale Type | Investment or Owner User |
| Property Type | Specialty |
| Property Subtype | Lodge/Meeting Hall |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 12,000 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1921/2002 |
| Tenancy | Single |
| Parking Ratio | 0.5/1,000 SF |
| Cross Streets | Pearl St |
| Opportunity Zone |
Yes |
| Zoning | Commercial - Commercial/ Comm City Downtown District |
Amenities
- Air Conditioning
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 22-05-00-200-300.000-008 | Improvements Assessment | $437,700 |
| Land Assessment | $40,500 | Total Assessment | $478,200 |
Property Taxes
Parcel Number
22-05-00-200-300.000-008
Land Assessment
$40,500
Improvements Assessment
$437,700
Total Assessment
$478,200
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138 E Market St - The Grand
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