Commercial
Land Development Opportunity / 0.51 Acres / W 5th St New Albany, IN
W 5th St, New Albany, IN 47150
Listing Price: $450,000
Investment Overview
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.
Land Development Opportunity / 0.51 Acres / W 5th St New Albany, IN
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, entertainment, retail, mixed-use, or future residential redevelopment.
- Limited availability of developable downtown land sites in New Albany's urban core
Exclusively Listed By
Broker of Record
Commercial
Land Development Opportunity / 0.51 Acres / W 5th St New Albany, IN
Listing Price: $450,000
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, entertainment, retail, mixed-use, or future residential redevelopment.
- Limited availability of developable downtown land sites in New Albany's urban core
Investment Overview
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.
Exclusively Listed By
Broker of Record
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
