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Second-Floor Office Suite with Vault
For Lease
$15 SF/Yr Modified Gross

223 E Spring St, New Albany, IN 47150

Historic commercial setting with private offices, open work areas, elevator access, and a dedicated restroom.

Space SizeContact for details
Days on Market234

Property Features for 223 E Spring St

General Information

Standard status Active
Property subtype Healthcare
Zoning R-A
Lease Type Modified Gross

Spaces For Lease

at 223 E Spring St Contact us

Available Space $15/Mo

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Listing Agency: Colliers
Listed By: Brigitte Owens
Source: Kcrea.resimplifi
Added: Jan 9 Changed: Aug 30 Last Checked: Aug 31 at 1:10PM

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 Colliers

Investment Insights

Based on property information with market context.

The second-floor office suite at 223 E Spring St provides 3,566 SF within a historic downtown building. Its layout combines two corner offices, two additional private offices, broad open work areas, and a former bank vault that can support secure storage or specialized workspace. Natural light reaches the open area, which looks onto the building’s atrium.

Shared building features include a main-level lobby, elevator service, a dedicated restroom, and two stairwells. The property is located on Spring Street between Bank and Third streets, adjacent to the Carnegie Center in New Albany. The first floor is occupied by a pediatric practice. R-A zoning is reported for the property.

Key Highlights

  • 3,566 SF second‑floor office suite
  • Two large corner offices plus two mid‑size private offices
  • Former bank vault offers secure storage or specialized workspace

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.

Lease Details

NNN (Triple Net)
Lease Type
$2.25 /SF/Yr
CAM

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 units - Historic commercial setting with private offices, open work areas, elevator access, and a dedicated restroom.
Where is this office units located?
The property is located at 223 E Spring St New Albany, IN.
What is the lease rate?
The lease rate is $15 SF/Yr.
What are key features of this property?
This property features: 3,566 SF second‑floor office suite; Two large corner offices plus two mid‑size private offices; Former bank vault offers secure storage or specialized workspace
More about this property
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