316 Pearl St, New Albany, IN 47150

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Building Details:

• Year Built: 1869

316 Pearl St is located in New Albany, IN.

316-318 Pearl Street is an elegant 3 story brick structure built in the late 1800’s. The property had been purchased by and named after John Hieb, “The Hieb Building”. The building has been noted for its iron work and exposed brick. Since the 1970’s, the property has been used for banking purposes. In addition, the property has operated various office and retail businesses, including one current tenant on the 3rd floor operating a law firm. The upper floors are perfect for apartment / condo / office space. The property is located mid-block between E. Market and E. Main Street in the downtown development district of New Albany. There are 6 parcels of property on approximately .9 acres. There are two parking lots. One parking lot is adjacent to the building with 24 car parking spaces. The second parking lot is on Bank street with 21 car parking for a total of 45 striped car parking spaces. In addition, there is non-metered street parking on Pearl Street. There is building signage on Pearl Street plus two monument signs and a pole sign on Bank Street.

The building is on the National Register District as well as the locally designated Historic District. Tax credits may be available due to the building being considered a “contributing building”. In addition, Tax Increment Financing (TIF) is available in this area.

Excellent opportunity for apartments or condo conversion, a museum or art center, bed and breakfast or corporate headquarters. It is a must see!