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    2116-2120 State St New Albany, IN 47150

    For Lease
    $8,333 /Mo

    Land lease opportunity in desirable retail corridor, New Albany, IN.

    Lot size:
    0.99 Acres

    Property Features for 2116-2120 State St

    General Information

    Lot size
    0.99 Acres

    Source: RE/MAX FIRST Agent Michael A Kopp

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Retail Corridor Land Lease

    This 0.99-acre land site is available for an annual ground lease plus property taxes. Located on State Street, a desirable retail corridor in Southern Indiana, the site is surrounded by major retailers such as Target and Home Depot, as well as quick-service restaurants including Chick-Fil-A, Burger King, Panera Bread, Chipotle, Popeyes, El Nopal Mexican Kitchen, Arby's, McDonald's, KFC, and Jack in the Box (Fall 2025). Service businesses such as Big O Tires and Tire Discounters, and financial services such as PNC Bank, Bank of America, and First Savings Bank are also nearby. Baptist Health has a major presence on State Street. The owners also own an adjoining property and will require a review of the layout of the site development plan. Utilities are available at the site, but coordination with the City and service providers will be required to locate them. The property is located in the TIF District for the City of New Albany, and depending on the project, may have additional incentives available with an approved site and development plan.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Albany
    County
    Floyd
    State
    Indiana
    Longitude
    -85.8378554
    Latitude
    38.3037472

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    FAQs

    What type of property is this?
    Commercial land - Land lease opportunity in desirable retail corridor, New Albany, IN.
    Where is this commercial land located?
    The property is located at 2116-2120 State St New Albany, IN.
    What are key features of this property?
    This property features: - Prime location on highly desirable State Street retail corridor with limited availability.; - Surrounded by major retailers like Target and Home Depot, and numerous QSRs such as Chick Fil A and Burger King.; - Located in a TIF District, potentially offering additional incentives with approved site and development plan.
    (502) 386-9022
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    2116-2120 State St New Albany, IN 47150
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2116-2120 State St New Albany, IN 47150
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