Exceptional redevelopment opportunity in the heart of thriving downtown New Albany! Situated on a highly visible stoplight corner, this prominently located commercial building offers incredible potential for investors, developers, or owner-users. Previously configured with professional office space on the main level and apartments on the second floor, the property provides the flexibility to restore its previous mixed-use layout or reimagine the building as all residential apartments (subject to any required approvals). Located within the East Spring Street Historic District, this property combines historic character with an irreplaceable location; close proximity to: restaurants, shopping, entertainment, and ongoing downtown investment. The building appears to have solid bones but will require renovation, making it an ideal value-add project with significant upside. Rare opportunities like this in downtown New Albany don't come along often!
TownhomeProperty Type
1919Year Built
2,613 sq ftLot Size
$41Price/Sq.Ft.
Listed by Matt Schaefer• Schaefer Real Estate, LLC
Contact: 502-552-4842
Bought with Gary Lytle• Green Tree Real Estate Services
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
—
Lot width
57 ft.
Lot depth
46 ft.
Lot size
—
Year renovated
—
Sq. Ft.
—
Year built
—
Style
Townhouse
County
Floyd County
APN
220500200797000008
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 3, 2026.
TR
Traditional Residential
The Traditional Residential district is intended for neighborhoods that are primarily residential in character with interspersed local Business uses to support the neighborhood. Single Family home Lots are compact. Multifamily housing types within the district include Duplex, Triplex, and small scale Multifamily Buildings. These Multifamily Buildings should serve as a transitional Use buffering Single Family homes from nearby, intense land uses such as regional Commercial or industrial uses. The permitted intensity of new Development will depend upon its compatibility with the existing neighborhood, proximity to major Streets and public transit, the distance to shopping, and environmental constraints.
Permitted uses
Include but are not limited to:
Housing-Single unit
Housing-Multiple units
Housing-Senior
Housing-Other
Public service
Post office
Park & open space
Property details
Interior
Room Information
Has Basement
Basement Information: Crawl Space
Exterior
Building Information
Stories: 2
Construction Details: Frame
Lot Information
Lot Size Area: 0.06
Lot Size Acres: 0.06
Lot Size Source: Assessor
Property Information
Below Grade Unfinished Area: 1,120
Above Grade Finished Area: 2,864
Foundation Details: Cellar
Resale
Financial
Tax Information
Annual Tax Amount: $1,292
Utilities
Utility Information
Water Source: Connected, Public
Public facts
Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: —
Style: Townhouse
Year Built: —
Year Renovated: —
County: Floyd County
APN: 220500200797000008
Home facts updated by county records on Aug 3, 2026
Around this home
Schools
S Ellen Jones Elementary School
Public PreK-4 • Assigned • 0.3mi
3/10
Nathaniel Scribner Middle School
Public 5-8 • Assigned • 1.3mi
7/10
New Albany Senior High School
Public 9-12 • Assigned • 0.8mi
4/10
Provided by GreatSchools
Historical weather
New Albany, IN • 47150
Average low and high temperatures (°F)
39
21
49
29
66
42
74
52
76
57
87
67
91
73
88
67
85
60
73
49
59
41
48
33
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
76/ 100
Good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
8.3 hrs
5.4 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$179,000 – $216,000
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