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    223 E Spring St New Albany, IN 47150

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    For Lease
    $4,000 /Mo ($13 SF/Yr)

    Second floor office space with flexible layout in historic building.

    Property size:
    3,566 SF
    Lot size:
    0.43 Acres

    Property Features for 223 E Spring St

    General Information

    Size
    3,566 SF
    Lot size
    0.43 Acres

    Source: Coldwell Banker McMahan Agent Paul R Kiger

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

    Overview

    Historic Downtown New Albany Office

    The second floor of a historic building in downtown New Albany is available for lease, offering 3,566 square feet of usable space. The layout includes two corner offices, two medium-sized offices, and a vault, a remnant from the building's past as a bank. An additional 2,000 square feet of open space benefits from natural light and can be adapted to specific needs through build-out. The building features a main level lobby, an elevator, a dedicated commercial bathroom, and two stairwells. The first floor is occupied by a pediatric practice. The available space is suitable for creative, general office, or medical office use, featuring a combination of private offices and an open area overlooking the atrium.
    Insight Report Location Intelligence

    Current Use by Public Records

    Joanna Kreyling Nurse Practitioner Complete Pediatrics and Specialty ... Nurse Practitioner Megan B. McKinley, ... Doctor Laleh Rezaei, MD Pediatrician Forrest Donald R Attorney

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    New Albany
    County
    Floyd
    State
    Indiana
    Longitude
    -85.8213109
    Latitude
    38.2869071

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    FAQs

    What type of property is this?
    Office space - Second floor office space with flexible layout in historic building.
    Where is this office space located?
    The property is located at 223 E Spring St New Albany, IN.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: - 3,566 SF of usable space with flexible layout options.; - Located in a historic downtown landmark building (since 1988) with high visibility on Spring St.; - Includes **2 corner offices, 2 midsize offices, and a large vault.**
    (424) 652-6748
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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
    223 E Spring St New Albany, IN 47150
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