W 5th & Market Corner Site | Flat Paved, Near Shovel-Ready

Highlights:

• Corner Infill Site at W 5th and W Market St: Frontage on both W 5th St and W Market St within an existing downtown commercial corridor.
• D-Downtown Zoning Supports a Broad Use Mix: Permits commercial, hospitality, office, medical, wellness, restaurant, and entertainment uses.
• Flat Paved Lot With Utilities at the Street: Water, sewer, and gas run along the street to nearby businesses; site is near shovel-ready.
• Immediate I-64 Access Across From Louisville: Just west of I-64 in downtown New Albany, directly across the Ohio River from downtown Louisville.
• 420,000+ Residents Within a 10-Mile Radius: Louisville MSA of 1.3M residents is supported by logistics, healthcare, manufacturing, and services.
• Multifamily Moratorium Pending Zoning Update: New non-owner occupied multifamily is paused while the city completes a zoning ordinance update.

Description:

View details and diligence materials on RI Marketplace:
https://rimarketplace.com/auction/3504/land/new-albany/in?utm_source=brevitas&utm_medium=paid_listing&utm_campaign=november18_2026&utm_content=land_3504

Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, W 5th St, New Albany, IN 47150 is a 0.51-acre (22,215 SF) fee simple urban infill development site at the intersection of W 5th St and W Market St in downtown New Albany, directly across the Ohio River from downtown Louisville. The single-parcel site is a flat paved lot with frontage on both streets, and water, sewer, and gas run along the street serving nearby businesses, positioning it as near shovel-ready. D-Downtown zoning permits a broad range of commercial, mixed-use, hospitality, office, medical, wellness, restaurant, and entertainment uses, giving a buyer flexibility to pursue boutique hospitality, office, retail, or entertainment concepts in a district with limited developable land. Buyers should note that the City of New Albany has a temporary moratorium on new non-owner occupied multifamily residential uses pending a zoning ordinance update anticipated later this year. The site sits just west of I-64, half a block from approximately 5,000 VPD on W 5th St at W Spring St, within a walkable district of restaurants, breweries, boutique retail, and entertainment venues. More than 420,000 residents live within a 10-mile radius, and the broader Louisville MSA of 1.3M residents is anchored by UPS Worldport, Humana, Ford, and Norton Healthcare.

Location
The site sits at W 5th St and W Market St in downtown New Albany, IN, just west of I-64 and across the Ohio River from downtown Louisville. It is half a block from roughly 5,000 VPD at W Spring St and walkable to breweries, restaurants, boutique retail, and civic amenities, within one of Southern Indiana's most active urban redevelopment corridors.


Bidding Opens
Nov 17 1:00 AM
Bidding Closes
Nov 19 1:00 AM

Documents: