2+ Acres In Commercial Redevelopment District
Vacant Land
for Sale
| Catylist Listing ID: |
30817670 |
| Property Subtypes: |
Hospitality, Multi-Family, Office, Retail
|
| Gross Land Area: |
2.79 Acres
|
| Sale Price: |
$17,000,000 |
| Unit Price: |
$6,093,189 Per Acre |
| Sale Terms: |
Cash to Seller, Purchase Money Mortgage |
| Cap Rate: |
Undisclosed |
| Last Updated: |
3/28/2023 |
Overview / Comments
|
Over 2 acres (8 different parcels) available in a purposed redevelopment area at the beginning. Per the Spring Street master plan “As a direct connection to the northern parts of Jeffersonville, Clarksville, and beyond Spring Street serves as a significant gateway to this area of significant investment and renewal.” http://cityofjeff.net/wp-content/uploads/2020/10/Spring-Street-Master-Plan-2017-Final-sm.pdf These properties line Spring Street in Jeffersonville and sits at the end of Eastern Blvd in Clarksville Clark County IN growth rate was 11% in 2021 https://usafacts.org/data/topics/people-society/population-and-demographics/our-changing-population/state/indiana/county/clark-county. According to the Claysburg Revelation Plan https://louisville.edu/cepm/pdf-files/copy_of_pdf/claysburg-neighborhood-revitalization-plan they propose streetscape improvements including fixing the streets and sidewalks, economic development by helping businesses with grants and funding programs, and asking for federal money for housing. There are multiple grants available for redevelopment of this area – please reach out for the information. The growth in the area is just beginning, over the next 2 years the city of Jeffersonville thru its Redevelopment Commission executed a Redevelopment Agreement. They plan to partner with American Commercial Barge Line (ACBL) to develop 80 acres along the Ohio river just 2.3 miles away from this once in a lifetime investment opportunity.
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Additional Details
| Nearest MSA: |
Louisville/Jefferson County |
| County: |
Clark |
| Tax ID/APN: |
10-20-00-800-140.000-010 |
| Zoning: |
C1 |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Spring Street |
| Highway Access: |
I-65, I-265, I-64 |
| Airports: |
Louisville International Airport- 13.5 miles |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
9,257 |
96,593 |
257,755 |
| Median Age: |
35.82 |
36.62 |
37.16 |
| Households: |
3,878 |
42,031 |
111,475 |
|
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