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623 E Spring Street, New Albany, IN 47150

New Albany
Local realty services provided by:CENTURY 21 River Valley Real Estate, Inc.
623 E Spring Street,New Albany, IN 47150
$175,000
  • - Beds
  • - Baths
  • 2,864 sq. ft.
  • Multi-family
  • Active
Listed by: matt schaefer
Office: schaefer real estate, llc.
MLS#:2026010644
Source:IN_SIRA

Price summary

  • Price:$175,000
  • Price per sq. ft.:$61.1

About this home

Exceptional redevelopment opportunity in the heart of thriving downtown New Albany! Situated on a highly visible stoplight corner, this prominently located commercial building offers incredible potential for investors, developers, or owner-users. Previously configured with professional office space on the main level and apartments on the second floor, the property provides the flexibility to restore its previous mixed-use layout or reimagine the building as all residential apartments (subject to any required approvals). Located within the East Spring Street Historic District, this property combines historic character with an irreplaceable location; close proximity to: restaurants, shopping, entertainment, and ongoing downtown investment. The building appears to have solid bones but will require renovation, making it an ideal value-add project with significant upside. Rare opportunities like this in downtown New Albany don't come along often!

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Home facts

  • Year built:1919
  • Listing ID #:2026010644
  • Added:1 day(s) ago
  • Updated:August 03, 2026 at 06:58 PM

Rooms and interior

  • Basement:Yes
  • Basement Description:Crawl Space
  • Living area:2,864 sq. ft.

Structure and exterior

  • Year built:1919
  • Building area:2,864 sq. ft.
  • Lot area:0.06 Acres
  • Architectural Style:Historic/Antique, One and One Half Story, Two Story
  • Construction Materials:Frame
  • Foundation Description:Cellar
  • Levels:2 Story

Utilities

  • Water:Connected, Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$175,000
  • Price per sq. ft.:$61.1
  • Tax amount:$1,292

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