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1604 State St 2,989 SF Office Building New Albany, IN 47150 $900,000 ($301.10/SF)
Investment Highlights
- Renovated & Move-In Ready: Completely updated with modern finishes throughout.
- Growth Potential: Positioned in an area with increasing commercial activity, making it a solid investment for long-term gains.
- Flexible Use: Perfect for businesses looking for medical office space, residential care, or a mixed-use operation.
Executive Summary
Description
Take advantage of this completely renovated, free-standing building located in a rapidly developing commercial district, ideal for a wide range of uses including medical housing, office space, or even residential accommodations. With excellent visibility and signage, this property is sure to make an impact in a growing community.
Property Features:
Flexible Space: Currently set up for short- or long-term patient housing, but easily adaptable to office, medical, or other commercial uses.
Spacious Layout: The building includes 6-7 bedrooms, 3 full bathrooms, a full kitchen, laundry facilities, and a dining hall perfect for communal gatherings.
Recreational & Wellness Areas: Enjoy a game room for relaxation, as well as a salon space that could serve multiple purposes.
Fully Furnished: The property comes fully furnished, with furniture negotiable as part of the sale.
Prime Location: Situated in a TIF district, this property is surrounded by thriving commercial development, ensuring future growth and increased visibility. Saint Edwards Hospital is only .4 miles from property and Floyd Memorial Hospital (also known as Baptist Health Floyd) is only 1.2 miles away.
Nearby Amenities: Major retailers like Target, Home Depot, Chipotle, and Panera are all just moments away, offering a convenient location for staff, visitors, or tenants.
Why This Property?
Renovated & Move-In Ready: Completely updated with modern finishes throughout.
Flexible Use: Perfect for businesses looking for medical office space, residential care, or a mixed-use operation.
Growth Potential: Positioned in an area with increasing commercial activity, making it a solid investment for long-term gains.
Take advantage of this completely renovated, free-standing building located in a rapidly developing commercial district, ideal for a wide range of uses including medical housing, office space, or even residential accommodations. With excellent visibility and signage, this property is sure to make an impact in a growing community.
Property Features:
Flexible Space: Currently set up for short- or long-term patient housing, but easily adaptable to office, medical, or other commercial uses.
Spacious Layout: The building includes 6-7 bedrooms, 3 full bathrooms, a full kitchen, laundry facilities, and a dining hall perfect for communal gatherings.
Recreational & Wellness Areas: Enjoy a game room for relaxation, as well as a salon space that could serve multiple purposes.
Fully Furnished: The property comes fully furnished, with furniture negotiable as part of the sale.
Prime Location: Situated in a TIF district, this property is surrounded by thriving commercial development, ensuring future growth and increased visibility. Saint Edwards Hospital is only .4 miles from property and Floyd Memorial Hospital (also known as Baptist Health Floyd) is only 1.2 miles away.
Nearby Amenities: Major retailers like Target, Home Depot, Chipotle, and Panera are all just moments away, offering a convenient location for staff, visitors, or tenants.
Why This Property?
Renovated & Move-In Ready: Completely updated with modern finishes throughout.
Flexible Use: Perfect for businesses looking for medical office space, residential care, or a mixed-use operation.
Growth Potential: Positioned in an area with increasing commercial activity, making it a solid investment for long-term gains.
Taxes & Operating Expenses (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
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| Operating Expenses |
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| Total Expenses |
$99,999
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$9.99
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Taxes & Operating Expenses (Actual - 2025) Click Here to Access
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Owner User
Property Type
Building Size
2,989 SF
Building Class
C
Year Built
1972
Price
$900,000
Price Per SF
$301.10
Tenancy
Single
Building Height
1 Story
Typical Floor Size
2,989 SF
Building FAR
0.45
Lot Size
0.15 AC
Zoning
C-1 - Commercial
Parking
13 Spaces (4.35 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Accent Lighting
- Air Conditioning
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Property Taxes
| Parcel Number | 22-05-03-400-128.000-008 | Improvements Assessment | $74,800 (2024) |
| Land Assessment | $40,500 (2024) | Total Assessment | $115,300 (2024) |
Property Taxes
Parcel Number
22-05-03-400-128.000-008
Land Assessment
$40,500 (2024)
Improvements Assessment
$74,800 (2024)
Total Assessment
$115,300 (2024)
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1604 State St
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