624 State ST, New Albany, IN 47150
624 State ST, New Albany, IN 47150
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Shawne Mardis

Shawne Mardis

+1(502) 649-6720
$2,700,000
Est. payment /mo
1.34 Acres Lot
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UPDATED:

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

MLS Listing ID 2026011996

Style Modular/ Prefab

Construction Status Resale

Year Built 1949

Annual Tax Amount $19,558

Lot Size 1.337 Acres

Acres 1.337

Property Sub-Type Retail

Property Description

Excellent commercial investment opportunity offering three solid leases, $220,000 in annual net operating income, and an asking price reflecting a nearly 8% capitalization rate. Situated on a corner lot in a high-traffic area, this property features strong visibility and ample parking.

The lease portfolio includes Dollar General with five years remaining, national tenant Bumper to Bumper, and a master lease guaranteed by the current owner for five years. Investors also have the opportunity to place their own tenant in the master-leased space at a higher rental rate, creating potential for increased income and long-term value. An attractive combination of established tenants, income stability, and leasing upside.

All lease details are on file and are available upon request

Location

State IN

County Floyd

Interior

Fireplace No

Exterior

Present Use Retail

Total Parking Spaces 62

Building

Architectural Style Modular/Prefab

New Construction No

Construction Status Resale

Others

Tax ID 0088240024

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Listed by BHG Realty

Nearby Locations

Shawne Mardis

"I have spent nearly 2 decades becoming an expert in Southern Indiana market trends and influences. Now, I'll put my considerable market background to work for you, helping you to identify the best deals, and price your home accurately to assure a quick sale, while maximizing profit. "

+1(502) 649-6720

smardis@movingwithmardis.com

8610 Chapel Hill Court, Charlestown, Indiana 47130, USA

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