Two-Story Live-Work and Office
419 W 1st Street, New Albany, IN 47150
For Sale
Contact for pricing
First-floor space is available for immediate showing, with second-floor residential tenants requiring appointment notice.
Property Size2,637 SF
Price / SF$119.42
Days on Market166
Property Features for 419 W 1st Street
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
RE/MAX Advantage
Listed By:
Paul Kiger · License IN RB14035922
(502) 314-6748
Source:
Crexi
Added: May 29
Changed: Aug 8
Last Checked: Jul 26 at 4:03AM
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
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 two-story property includes live-work space and office accommodations, with space available on both levels. The listing notes that the first floor is available for immediate showing, while access to the second floor requires an appointment and advance notice.
Showings should be coordinated carefully because the second floor is occupied by residential tenants. Visitors are asked not to interrupt the existing residential use, and scheduling guidance is provided for viewing that portion of the building.
For tenants, buyers, and investors looking for a combined live-work and office configuration, the split between an immediately accessible first floor and a second floor that is currently tenant-occupied can support a variety of planning approaches. The property’s operating schedule is practical to manage given the clear showing process, and the existing residential occupancy on the upper level may be relevant for parties evaluating how the building can function day-to-day. Interested parties should coordinate directly for second-floor access and plan site visits with the notice requirements in mind.
Showings should be coordinated carefully because the second floor is occupied by residential tenants. Visitors are asked not to interrupt the existing residential use, and scheduling guidance is provided for viewing that portion of the building.
For tenants, buyers, and investors looking for a combined live-work and office configuration, the split between an immediately accessible first floor and a second floor that is currently tenant-occupied can support a variety of planning approaches. The property’s operating schedule is practical to manage given the clear showing process, and the existing residential occupancy on the upper level may be relevant for parties evaluating how the building can function day-to-day. Interested parties should coordinate directly for second-floor access and plan site visits with the notice requirements in mind.
Key Highlights
- Building year built: 1917
- First‑floor space available for immediate showing
- Second‑floor showings require appointment and notice for residential tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,700
Cap Rate
8.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,000
$534.0K
Cap Rate 7%
$381,429
$381.4K
Cap Rate 9%
$296,667
$296.7K
Market Conditions
NOI Build-Up for 2,637 SF
Gross rent
$47.5K $18.00/SF
− Vacancy
−$4.7K −$1.80/SF
EGI
$42.7K $16.20/SF
− OpEx
−$16.0K −$6.07/SF
NOI
$26.7K $10.13/SF
Area
Floyd County, IN
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,000
Cap Rate 7%
$381,429
Cap Rate 9%
$296,667
Alternative Uses
Best Use
Office B
$472.4K
$413.3K – $551.1K
NOI $33,065 @ 7.0% cap · market cap 10.50%
Second Best
Mixed Use
$381.4K
$333.8K – $445.0K
NOI $26,700 @ 7.0% cap · market cap 8.48%
Theoretical Best
Specialty Retail
$1.91M
$1.67M – $2.22M
NOI $133,423 @ 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
1,041
Businesses Nearby
Explore this area
Business Placement
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 Office in Midwest region
Frequently Asked Questions
What type of property is this?
Live-work space - First-floor space is available for immediate showing, with second-floor residential tenants requiring appointment notice.
Where is this live-work space located?
The property is located at 419 W 1st Street New Albany, IN.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Building year built: 1917; First‑floor space available for immediate showing; Second‑floor showings require appointment and notice for residential tenants
