STATE STREET OFFICE COMPLEX ONLINE AUCTION

BIDDING BEGINS:  WEDNESDAY, JUNE 3 @ 2PM

BIDDING ENDS:  WEDNESDAY, JUNE 10 @ 2PM

1604 STATE STREET, NEW ALBANY, IN 47150

Selling online at auction a prime two-building commercial office complex with a 19-space parking lot located on the corner of State & Conner Street two blocks south of the hospital, minutes to downtown, and easily accessible to I-64 and I-265. Two free-standing buildings with a covered walkway, previously used as an Insurance Agency and storage facility, will be offered together as one unit including all office furnishings and zoned “Mixed Use Corridor Commercial” (MC). A premier opportunity to occupy, develop, or invest in. 

COMMERCIAL REAL ESTATE

After 48 years of serving Southern Indiana, Selfridge and Associates, Inc. have merged their insurance agency with the Callistus Smith Agency in Floyds Knobs and will be selling their office complex together as one unit including two buildings, large parking lot and office furnishings. Located on the State Street corridor which runs 2.3 miles, is the north-south connector in the City of New Albany. Along this corridor are businesses, residences, and medical including the Baptist Health Floyd Hospital. This complex includes a 3580 square foot brick office building built in 1972 and a 1226 square foot dwelling used for storage connected by a covered walkway. The buildings sit on a 108’ x 120’ corner lot and include a large private parking lot with 19 parking spaces. 

PROPERTY HIGHLIGHTS 

• Two Commercial Free-Standing Buildings 

• Furnished - Selling Together as One Unit 

• 108’ x 120’ Corner Lot 

• 19 Private Parking Spaces 

• 3,580 SF Brick Building

• Client Meeting Rooms, Private Offices on 2 Levels

• Large Kitchen and Bathrooms 

• 1,226 SF Former Residential Dwelling

• Close Proximity to Eateries, Banks, Medical, and Other Offices 

• Easily Accessible to I-64 and I-265

• Zoned Mixed Use Corridor Commercial (MC)

1604 STATE STREET (Office) 

A prime Floyd County location in a busy commercial district one mile from downtown and expressways. Built in 1972, this brick office building features 3,100 square feet on the first level that includes seven private offices, two conference rooms, equipped kitchenette, men and women’s restrooms, and a reception area with a cathedral ceiling. The second floor features 480 square feet and includes two offices, a full bath, and a conference room. The building is equipped with office furniture, an NEC phone system, Honeywell Alarm System, and a Lorex Video Surveillance System. The building has accessible features, natural gas heat, and central air.

1600 STATE STREET 

Circa 1920’s vinyl siding 1,226 square foot 5-room bungalow formerly a  residential 2 bedroom - 1 bath home currently was used for an office record storage facility. The dwelling is in need of renovation and could easily be used as a residential rental or commercial office space.

ZONING

Mixed-Use Corridor Commercial (MC) 

AUCTION ORDER
1600 & 1604 State Street will be offered together as one unit and will include all furnishings. 

UTILITIES 

Duke Energy

Vectren Gas

Indiana American Water

New Albany Sewers

REAL ESTATE TAXES 2019/2020 Annual

New Albany City

1604 State Street -- $3,209.64

1600 State Street -- $2,127.84

EXEMPTIONS
None 

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BUYERS PREMIUM 

10% Buyer’s Premium added to the hammer bid price to determine the final purchase price.

REAL ESTATE TERMS 

10% Non-refundable down payment in the form of cash, check or wired funds due within 24 hours following the auction, balance due in 40 days. Taxes prorated to the day of closing. Possession at closing. Selling as is without contingencies, all inspections welcomed prior to the auction. 

INSPECTION 

Call for a private showing. 

SELLER 

Gary W. and Carolyn A. Selfridge

DIRECTIONS 

I-265 to State Street Exit #0. South 1 mile to property on left or 1 mile North of downtown.