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3512 Paoli Pike - Paoli Pike Multi-Residence Investment 2.95 Acres of Residential Land Offered at $450,000 in Floyds Knobs, IN 47119
INVESTMENT HIGHLIGHTS
- Prime Paoli Pike Location: Nearly 3 acres with ~265 ft of frontage in Floyds Knobs — excellent visibility and accessibility.
- Investment & Redevelopment Potential: Ideal for multigenerational living, rental income, or future mixed-use development.
- Multiple Residences + Garage: 2 homes, 1 mobile home, and a 4-bay garage offering flexible use or income streams.
EXECUTIVE SUMMARY
Property Overview:
Total acreage: just under 3 acres
Two single-family residences with character and potential for updates
One mobile home for additional rental income or future removal
Large 4-bay garage with concrete floors, ideal for storage, workshop, or small business use
Approximately 265 feet of Paoli Pike frontage, providing excellent visibility and accessibility
Location Highlights:
Situated in Floyds Knobs, one of Southern Indiana’s most sought-after areas
Surrounded by established residential neighborhoods, luxury homes, and small businesses
Minutes from top-rated schools, dining, retail, and local amenities
Easy access to downtown New Albany and Louisville via I-64
Strong demographics and continued growth in the surrounding area
Potential Uses:
Multigenerational Living: With multiple residences already on site, the property is well-suited for extended family use while still offering independent living spaces.
Investment/Rental Income: Each dwelling provides income-producing potential. The garage offers additional revenue streams as storage, contractor bays, or small business space.
Redevelopment Opportunity: Nearly 3 acres with frontage on Paoli Pike makes this an attractive candidate for future redevelopment — whether for higher-density residential, mixed-use, or neighborhood commercial purposes (subject to zoning and approvals).
Owner-User: A buyer seeking both a primary residence and space for a business, hobby, or workshop will find the setup advantageous.
Investment Highlights:
Rare large parcel in a high-demand location
Immediate rental income potential from multiple dwellings
Long-term redevelopment play with strong upside
Flexible usage appeal for investors, developers, and owner-occupants
“As-Is” sale provides a clean slate for a buyer’s vision
Seller Notes:
Sellers welcome inspections; property to be sold as-is
Sq. ft. and room sizes are approximate
Mobile home may remain or be removed depending on buyer preference
All showings by appointment only
This is a property that offers both short-term income and long-term potential, framed by growth, visibility, and desirability in Floyds Knobs. Whether you are seeking to generate cash flow, create a family compound, or explore redevelopment opportunities, Paoli Pike Multi-Residence Investment is a one-of-a-kind listing worth strong consideration.
PROPERTY FACTS Under Contract
1 LOT AVAILABLE
Lot
| Price | $450,000 | Lot Size | 2.95 AC |
| Price Per AC | $152,542.37 |
| Price | $450,000 |
| Price Per AC | $152,542.37 |
| Lot Size | 2.95 AC |
Just under 3 acres on Paoli Pike featuring 2 single-family homes, 1 mobile home, and a 4-bay garage. Prime Floyds Knobs location with road frontage, visibility, and flexible investment potential. Zoned Neighborhood Commercial.
DESCRIPTION
Discover a one-of-a-kind opportunity in the heart of Floyds Knobs, Indiana. This versatile property spans just under 3 acres on Paoli Pike and features a unique combination of two single-family homes, one mobile home, and a spacious four-bay garage — all on a single parcel with approximately 265 feet of prime road frontage. Whether you’re an investor seeking rental income, a developer envisioning future redevelopment, or a buyer searching for multigenerational living with land and storage, this property offers unmatched flexibility in a highly desirable location. Property Highlights: Nearly 3 acres in Floyds Knobs Two single-family residences with character and potential for updates One mobile home, offering additional rental income or option for removal Four-bay garage with concrete floors, perfect for storage, workshop, or business use Approximately 265 feet of frontage on Paoli Pike, offering excellent visibility All structures situated on a single parcel, simplifying ownership and management Location Advantages: Situated in a high-demand area known for its strong community, schools, and residential growth Minutes from New Albany, Louisville, and major commuter routes Surrounded by established neighborhoods, luxury homes, and thriving small businesses Excellent demographics and steady demand for housing and services in Floyd County High-visibility frontage along Paoli Pike, one of the area’s main commercial and residential arteries Potential Uses: Multigenerational Living: With multiple dwellings already in place, families can live together while maintaining independence. Rental Investment: Generate multiple streams of income through residential rentals, plus garage rental or storage leases. Live/Work Flexibility: A unique opportunity for owner-occupants to combine living space with hobby or business operations. Redevelopment: Nearly 3 acres with road frontage positions this parcel as an attractive candidate for higher-density residential, mixed-use, or neighborhood commercial redevelopment (subject to zoning approvals). Investment Appeal: Immediate cash flow potential with existing homes and garage space Long-term upside through redevelopment or repositioning Rare large parcel in Floyds Knobs with road frontage Flexible zoning (Neighborhood Commercial) to support various uses Strong location fundamentals supporting both residential and commercial demand Additional Notes: Sellers welcome inspections; property to be sold as-is. Square footage and room sizes approximate. Buyer to verify road frontage, zoning, utilities, and intended use with Floyd County Planning & Zoning. Showings by appointment only. This property represents a rare chance to secure acreage, frontage, and flexibility in one of Southern Indiana’s most desirable markets. With multiple residences, income-producing potential, and long-term redevelopment possibilities, this Paoli Pike Multi-Residence Investment is positioned to deliver value today and in the future.
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3512 Paoli Pike - Paoli Pike Multi-Residence Investment
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