Storefront Mixed-Use
214 Pearl Street, New Albany, IN 47150
For Sale
Contact for pricing
Commercial, New Albany, IN
Property Size1,300 SF
Price / SF$0.01
Days on Market43
Property Features for 214 Pearl Street
General Information
Property type
Property subtype
Directions
Standard status
APN
Size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Listing Agency:
RE/MAX FIRST-Commercial Group · RE/MAX International
Listed By:
Mike Kopp · License IN RB14037481
(812) 283-4778
Added: Sep 29
Changed: Nov 8
Last Checked: Nov 10 at 5:06PM
MLS# 2026012171
Copyright © 2026 Southern Indiana REALTORS Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,300-square-foot mixed-use space at 214 Pearl Street has a glass storefront, an open front area, offices at the rear, and a restroom. The building dates to 1852 and has served retail and office functions.
The property is on Pearl Street in downtown New Albany, adjacent to a dining business and a retailer of vintage clothing and collectibles.
The property is on Pearl Street in downtown New Albany, adjacent to a dining business and a retailer of vintage clothing and collectibles.
Key Highlights
- 1,300 square feet with an open front area and rear offices
- Glass storefront on Pearl Street in downtown New Albany
- Includes a restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,449
Suggested Prices Based on Cap Rates
Cap Rate 5%
$248,980
$249.0K
Cap Rate 7%
$177,843
$177.8K
Cap Rate 9%
$138,322
$138.3K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$18.7K $14.40/SF
− Vacancy
−$936 −$0.72/SF
EGI
$17.8K $13.68/SF
− OpEx
−$5.3K −$4.10/SF
NOI
$12.4K $9.58/SF
Area
Floyd County, IN
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$248,980
Cap Rate 7%
$177,843
Cap Rate 9%
$138,322
Alternative Uses
Best Use
Mixed Use
$188.0K
$164.5K – $219.4K
NOI $13,163 @ 7.0% cap
Second Best
Retail
$177.8K
$155.6K – $207.5K
NOI $12,449 @ 7.0% cap
Theoretical Best
Specialty Retail
$939.7K
$822.2K – $1.10M
NOI $65,776 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,093
Businesses Nearby
53k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 29%
Hotels & Casinos 10%
Circle K
Shops & Services
16,840 visits/mo
0.1 miles
Circle K
Shops & Services
8,727 visits/mo
0.5 miles
Waffle House
Dining
8,072 visits/mo
0.3 miles
Wild Eggs
Dining
7,332 visits/mo
0.4 miles
Chase Bank
Shops & Services
6,686 visits/mo
0.1 miles
Demographics for 47150, IN
49,395
Population
22,834
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
45.0 sq mi
ZIP Area
1,098
Density / Sq Mi
$62,212
Median Household Income
$40,837
Median Earnings
$984
Median Rent
$191,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The interior pairs an open front area with rear offices and a restroom.
Where is this mixed-use property located?
The property is located at 214 Pearl Street New Albany, IN.
What are key features of this property?
This property features: 1,300 square feet with an open front area and rear offices; Glass storefront on Pearl Street in downtown New Albany; Includes a restroom
