W 5th Street Lot | Terrain commercial | 0,21 ha | À vendre | 394 299 € | New Albany, IN 47150

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.