514 Vincennes StNew Albany, IN 47150

Property Details for 514 Vincennes St

Year built

1950

Construction

WOOD

Lot size

0.16 AC

Property size (Sq ft)

1,350 SF

Property type

Retail properties

Property subtype

Retail space

APN

22-05-02-801-253.000-008

APU

220502801253000008

Description

This exceptional opportunity presents the chance to acquire the renowned Honey Creme Donut Shop, a cherished New Albany institution since the mid-1940s. The sale includes the business, equipment, and the iconic name, ensuring a seamless transition. Situated on a nearly one-acre lot (6,624 sq ft) at 514 Vincennes St, New Albany, IN 47150, the property boasts a convenient drive-up window and ample parking. The 1,350 square foot, single-story building (built in 1950) is equipped with all necessary commercial kitchen equipment, including mixers, fryers, and display cases, making it a truly turnkey operation. This Class C property presents a unique investment opportunity for an owner/user. The existing customer base provides immediate revenue potential, while the versatile space allows for continued operation as a donut shop or adaptation to another retail business. The property's rich history and strong community ties offer a rare chance to own a piece of New Albany's heritage. The asking price is $750,000. The APN is 22-05-02-801-253.000-008.

• CAP approach

  CAP return

  Valuation

  6%

  $244,797

  6.5%

  $225,967

  7%

  $209,826

• Comparable approach

  Method

  Valuation

  Relative Method

  $292,844

  Geo Method

  $292,844

• Alternative Use

  Use

  Valuation

  Residential

  $190,611

  Hospitality

  $174,599

  Educational

  $145,264

  Medical

  $150,260

  Retail

  $225,967

Location Insight

City

New Albany

County

Floyd

State

Indiana

Latitude

38.2942

Longitude

-85.8081

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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