Land Development Opportunity / 0.51 Acres / W 5th St… — Sale in New Albany, IN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Commercial Land
  • Location: New Albany, IN 47150

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Description

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 Interstate 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. Investment Highlights: • 0.51 acre urban infill development site located on W 5th Street (at the intersection of W Market St). • Downtown New Albany, Indiana is directly across the Ohio River from downtown Louisville, Kentucky. • Strategically located just off of I-64. • Positioned within a rapidly redeveloping downtown district with strong restaurant, retail, and entertainment presence. • Walkable to local destinations including breweries, restaurants, boutique retail, and civic amenities. • Attractive opportunity for boutique hospitality, office, restaurant, entert

Market Context

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