Multi-Tenant Shopping
624 State St, New Albany, IN 47150
For Sale
$2,700,000
Three lease arrangements include two named retail tenants and a master-leased space.
Property Size26,812 SF
Price / SF$100.70
Days on Market48
Property Features for 624 State St
General Information
Standard status
Size
Property subtype
Net Operating Income
Additional Details
Cap Rate
Corner Location
Building Details
Year Built
Tenancy
Listing Agency:
Nexthome Wilson Real Estate
(812) 924-7024
Listed By:
Ward Realty Services
(812) 200-2838
Source:
Wardrealtyservices
Added: Sep 24
Changed: Nov 8
Last Checked: Nov 10 at 8:18AM
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 Nexthome Wilson Real Estate
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 26,812-square-foot shopping center, built in 1949, has three lease arrangements. Dollar General has five years remaining on its lease, and Bumper to Bumper is also a tenant. A third space is covered by a master lease guaranteed by the current owner for five years.
The property occupies a corner lot and includes ample parking. The reported capitalization rate is nearly 8%.
The property occupies a corner lot and includes ample parking. The reported capitalization rate is nearly 8%.
Key Highlights
- 26,812‑square‑foot shopping center built in 1949
- Three lease arrangements, including Dollar General, Bumper to Bumper, and an owner‑guaranteed master lease
- Dollar General lease has five years remaining
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,124
Businesses Nearby
32k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 75%
Dining 25%
Circle K
Shops & Services
16,840 visits/mo
0.3 miles
Waffle House
Dining
8,072 visits/mo
0.5 miles
Chase Bank
Shops & Services
6,686 visits/mo
0.3 miles
Napa Auto Parts
Shops & Services
259 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Shopping center - Three lease arrangements include two named retail tenants and a master-leased space.
Where is this shopping center located?
The property is located at 624 State St New Albany, IN.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 26,812‑square‑foot shopping center built in 1949; Three lease arrangements, including Dollar General, Bumper to Bumper, and an owner‑guaranteed master lease; Dollar General lease has five years remaining
