26,812 sqft

$2,850,000

624 State Street, New Albany IN, 47150

Price per sqft$106.30

Built in1949

Property size26,812 sqft

Property typeCommercial

Overview

Active

Listed Sep 22, 2026

Updated 2 weeks ago

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

Additional information

MLS^® ID: 2026011996

Interior Features

Basement: No

Exterior Features

Lot Size: 1.34 Acres

Other Property Details

Taxes: $19,558
Tax Frequency: Annually

Listed by Missie Hayden with BHG Realty
Listing Contact: 270-240-1501

The IDX display contains information sourced from the Southern Indiana REALTORS® Association as of 9/22/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

Data last updated on 9/22/2026 at 9:25 PM UTC