Single-Story Office Building with Canopy
For Sale
$300,000
122 Bowling Lane, Clarksville, IN 47129
COMMERCIAL - Clarksville, IN
Property Size1,482 SF
Lot Size0.46 Acres
Price / SF$202.43
Days on Market209
Property Features for 122 Bowling Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
102404500494000013
Size
1,482 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Description
GT 45 .459 AC
Tax Annual Amount
3750
Legal Description
GT 45 .459 AC
Amenities
canopy/covered entry
Building Details
Year built
2013
Listing Agency:
Keller Williams Realty Consultants
(812) 944-7024
Listed By:
Brian Haeseley · License #RB14040159
(812) 944-7024
Added: Jan 14
Changed: Aug 9
Last Checked: Aug 11 at 11:06PM
MLS# 202608424
Copyright © 2026 Southern Indiana REALTORS Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Detached, single-story office building built in 2013 offering a flexible, single-level interior layout. The property includes 1,482 SF of space within a detached building designed to support professional office, medical/therapy, retail service, or other service-oriented business use.
Outside, the site features paved parking and a canopy/covered entry to the building, supporting tenant and customer access in all seasons. The building sits on 0.459 acres.
This configuration can be suited to owner-occupants or investors seeking a manageable footprint with straightforward, single-level operation and a covered entrance for day-to-day use.
Outside, the site features paved parking and a canopy/covered entry to the building, supporting tenant and customer access in all seasons. The building sits on 0.459 acres.
This configuration can be suited to owner-occupants or investors seeking a manageable footprint with straightforward, single-level operation and a covered entrance for day-to-day use.
Key Highlights
- 1,482 SF detached, single‑story office building
- Built in 2013
- 0.459‑acre lot with paved parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,621
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$452,420
$452.4K
Cap Rate 7%
$323,157
$323.2K
Cap Rate 9%
$251,344
$251.3K
Market Conditions
NOI Build-Up for 1,482 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$35.6K $24.00/SF
− Vacancy
−$5.4K −$3.65/SF
EGI
$30.2K $20.35/SF
− OpEx
−$7.5K −$5.09/SF
NOI
$22.6K $15.26/SF
Area
Clark County, IN
Vacancy
15.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$452,420
Cap Rate 7%
$323,157
Cap Rate 9%
$251,344
Alternative Uses
Best Use
Office B
$323.2K
$282.8K – $377.0K
NOI $22,621 @ 7.0% cap · market cap 7.54%
Second Best
Healthcare Medical
$283.3K
$247.9K – $330.5K
NOI $19,831 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$430.9K
$377.0K – $502.7K
NOI $30,162 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 47129, IN
19,739
Population
9,382
Households
2.1
Avg Household Size
39
Median Age
17%
College-Educated
83%
High-School Grad
9.6 sq mi
ZIP Area
2,056
Density / Sq Mi
$55,447
Median Household Income
$36,592
Median Earnings
$1,027
Median Rent
$162,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Detached office building built in 2013 with paved parking, covered entry, and a flexible single-level interior layout.
Where is this office building located?
The property is located at 122 Bowling Lane Clarksville, IN.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,482 SF detached, single‑story office building; Built in 2013; 0.459‑acre lot with paved parking
