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    224 E Main St New Albany, IN 47150

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    For Sale
    $399,000

    Versatile property in historic downtown New Albany, Indiana.

    Property size:
    1,896 SF
    Lot size:
    0.05 Acres

    Property Features for 224 E Main St

    General Information

    Size
    1,896 SF
    Lot size
    0.05 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 Townhome Opportunity

    Located in the heart of historic downtown New Albany, this property is one of three brick townhomes constructed around 1880. Originally built as investment residential properties, this corner property has been well-preserved and retains its character. Previously used as law offices, the property offers three spacious rooms on each floor, along with updated full bathrooms on every level. The property could serve as a unique residence with 3 beds and 2 full baths, office space, or a combination of both. The grand front entrance features decorative gingerbread trim and distinctive double-arched doors leading to a vestibule. A rear addition houses a modern kitchen. The property includes a private garage and a full basement, providing storage and expansion potential. A fenced courtyard offers outdoor space in an urban setting. The corner lot location provides visibility and natural light. Situated one block from the Ohio River and across from the historic Second Baptist Church, the location is near restaurants, shops, arts, and culture. The property size is 1896 square feet.
    Location Intelligence

    Current Use by Public Records

    Medical Billing Group Medical Billing Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New Albany
    County
    Floyd
    State
    Indiana
    Longitude
    -85.8199127
    Latitude
    38.2842494

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    FAQs

    What type of property is this?
    Office space - Versatile property in historic downtown New Albany, Indiana.
    Where is this office space located?
    The property is located at 224 E Main St New Albany, IN.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: - Prime downtown location in historic New Albany, one block from the Ohio River and across from the Town Clock Church; - Versatile property suitable for residential, office, or mixed-use, with three spacious rooms per floor; - Updated full bathrooms on every level (3 total)
    (424) 652-6748
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    224 E Main St New Albany, IN 47150
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    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
    224 E Main St New Albany, IN 47150
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