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W 5th Street
New Albany, IN 47150
Land For Sale
·
0.51 AC
Investment Highlights
- 0.51 acre urban infill development site located on W 5th Street (at the intersection of W Market St).
- Strategically located just off of I-64.
- Walkable to local destinations including breweries, restaurants, boutique retail, and civic amenities.
- Downtown New Albany, Indiana is directly across the Ohio River from downtown Louisville, Kentucky.
- Positioned within a rapidly redeveloping downtown district with strong restaurant, retail, and entertainment presence.
- Attractive opportunity for boutique hospitality, office, restaurant, entertainment, retail, mixed-use, or future residential redevelopment.
Executive Summary
Downtown New Albany Redevelopment Opportunity.
The subject property consists of approximately 0.51 acres of development land located on W 5th Street in downtown New Albany, Indiana, directly
across the Ohio River from Louisville, Kentucky. The site is positioned within the city’s “D-Downtown” zoning district, allowing for a broad range of
commercial, mixed-use, hospitality, office, and entertainment development opportunities.
Strategically located just west of I-64 and minutes from downtown Louisville, the property benefits from excellent regional accessibility and
visibility within one of Southern Indiana’s most active urban redevelopment corridors. The surrounding area includes a growing concentration of
restaurants, breweries, boutique retail, entertainment venues, and mixed-use redevelopment projects that continue to drive investment interest in
downtown New Albany.
The site is situated within the Louisville MSA, a regional economy supported by logistics, healthcare, manufacturing, and professional services.
Over 420,000 residents live within a 10-mile radius, with continued household growth projected through 2030.
While the downtown zoning district generally supports higher-density residential and mixed-use projects, investors should note that the City of New
Albany currently has a temporary moratorium on new non-owner occupied multifamily residential land uses as part of an ongoing zoning
ordinance update anticipated later this year.
The subject property consists of approximately 0.51 acres of development land located on W 5th Street in downtown New Albany, Indiana, directly
across the Ohio River from Louisville, Kentucky. The site is positioned within the city’s “D-Downtown” zoning district, allowing for a broad range of
commercial, mixed-use, hospitality, office, and entertainment development opportunities.
Strategically located just west of I-64 and minutes from downtown Louisville, the property benefits from excellent regional accessibility and
visibility within one of Southern Indiana’s most active urban redevelopment corridors. The surrounding area includes a growing concentration of
restaurants, breweries, boutique retail, entertainment venues, and mixed-use redevelopment projects that continue to drive investment interest in
downtown New Albany.
The site is situated within the Louisville MSA, a regional economy supported by logistics, healthcare, manufacturing, and professional services.
Over 420,000 residents live within a 10-mile radius, with continued household growth projected through 2030.
While the downtown zoning district generally supports higher-density residential and mixed-use projects, investors should note that the City of New
Albany currently has a temporary moratorium on new non-owner occupied multifamily residential land uses as part of an ongoing zoning
ordinance update anticipated later this year.
Property Facts
1 Lot Available
Lot
| Price | $450,000 | Lot Size | 0.51 AC |
| Price Per AC | $882,352.94 |
| Price | $450,000 |
| Price Per AC | $882,352.94 |
| Lot Size | 0.51 AC |
Frontage on W 5th St and W Market St Flat Paved Lot Near Shovel Ready / Development Ready Immediate access to I-64 Existing Commercial Corridor
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