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Atrium Office Building
For Sale
$999,000

223 E Spring Street, New Albany, IN 47150

Multifunctional office property with a mezzanine, elevator, conference room, kitchen, and covered patio.

Property SizeContact for details
Days on Market3418

Property Features for 223 E Spring Street

General Information

Standard status Active
Property subtype Office

Taxes and HOA fees

Annual Taxes $16,525

Amenities

3
18 Parking Spaces.

Building Details

Year Built 1988
Listing Agency: RE/MAX Advantage
Listed By: Paul Kiger · License #RB14035922
Source: Xome
Added: Apr 22, 2017 Changed: Aug 30 Last Checked: Aug 30 at 7:12AM

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Advantage

Investment Insights

Based on property information with market context.

Built in 1988, this two-story office property at 223 E Spring Street provides 8,172 square feet of finished space in Historic Downtown New Albany. The interior includes an atrium lobby with a two-story window wall, an interior water feature wall, and a mezzanine overlooking the open central area. The building also contains at least eight offices, a conference room, two bank vault rooms, a kitchen, an elevator, and a covered patio.

Additional improvements include one full bath with a separate shower and two half baths. A two-story portico marks the entrance, while a rear bank drive-through adds another distinctive physical feature. The open atrium, mezzanine, and existing office layout provide multiple interior areas within the building’s current configuration.

Key Highlights

  • 8,172 square feet of finished office space
  • Atrium lobby with a two‑story window wall and interior water feature wall
  • At least 8 offices plus a conference room

Property Analytics

Current Use

Joanna Kreyling Physician Complete Pediatrics and Specialty ... Physician Megan B. McKinley, ... Physician Laleh Rezaei, MD Pediatrician Forrest Donald R Law Firm

Suggested Use

Top Pick HVAC Service Dental Office (Bike/Boat/Book/etc) Store Catering Service Butcher Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,144
Businesses Nearby

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

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019
15.6% 2020
17.1% 2021
18.9% 2022
21% 2023
22% 2024
21.3% 2025
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Frequently Asked Questions

What type of property is this?
Office building - Multifunctional office property with a mezzanine, elevator, conference room, kitchen, and covered patio.
Where is this office building located?
The property is located at 223 E Spring Street New Albany, IN.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 8,172 square feet of finished office space; Atrium lobby with a two‑story window wall and interior water feature wall; At least 8 offices plus a conference room
More about this property
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