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    Restaurant Building on 1.29 Acres Title is generated by Realmo AI

    1440 Vaxter Avenue, Clarksville, IN 47129

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    Restaurant building on 1.29 acres with excellent road frontage.

    Type:Business Opportunities
    Property size:
    6,810 SF
    Lot size:
    1.29 Acres
    Price / SF:
    $0.00/SF
    Added:
    Jul 1, 2021
    Days on Market:
    1801
    Last Refresh:
    May 13 at 8:41 pm

    Property Features for 1440 Vaxter Avenue

    General Information

    Standard status
    Active
    Size
    6,810 SF
    Lot size
    1.29 Acres
    Property subtype
    Business Opportunities

    Building Details

    Year Built
    1994

    We can help!

    Listing Contact
    Brian Beckort

    Listing agent Brian Beckort

    Listing office Beckort Auctions, LLC

    Listing date Jul 1, 2021

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Beckort Auctions, LLC

    HighLights

    • Excellent location with high visibility near Green Tree Mall and Bass Pro, plus pole sign visible from I‑65 and Lewis & Clark Pkwy.
    • High‑capacity parking with 113 spaces on a 38,890 SF asphalt lot.
    • 6,810+\/- SF building on a 1.29+\/- acre lot with road frontage on two streets.
    • Strong investment opportunity, formerly leased for $9,473 monthly NNN.
    • Existing restaurant infrastructure includes a commercial‑grade kitchen, cooler, freezer, bar area, and segmented dining.
    • Three‑way liquor license available.

    Overview

    The property features a 6,810+/- SF casual dining restaurant establishment, formerly O'Charley's, situated on a 1.29+/- acre lot. The building, constructed in 1994, has wood and concrete block frame with brick veneer siding. The property has 215â of road frontage on both Vaxter Ave (west) and Cedar St (east). The interior includes an entry area leading to segmented dining areas with various floor elevations, a bar area, restrooms, and a commercial-grade kitchen with an attached cooler and freezer. The dining areas feature a combination of ceramic tile and carpet, fluorescent and incandescent lighting, and 9-10â ceilings. The exterior features a 38,890 SF asphalt parking lot with 113 parking spaces, landscaping, a pole sign visible from I-65 and Lewis & Clark Pkwy, and an additional pylon sign facing Vaxter Ave. The property is located in close proximity to high-traffic retailers including Green Tree Mall and Bass Pro. Mechanical features include roof-mounted natural gas self-contained furnaces with condensers, a 1,200 amp main breaker, two restrooms with 11 fixtures, several sinks, floor drains, and other plumbing fixtures in the kitchen and bar, a wet sprinkler system, and a security alarm. The property was formerly leased to O'Charley's for $9,473 monthly NNN. A three-way liquor license is available to the new owner. The property is located in Clark County, which has a population of 118,000+ and is steadily growing. The traffic count on Lewis & Clark Pkwy is 28,500 VPD (2015).
    Property Profile Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Clarksville
    County
    Clark
    State
    Indiana
    Longitude
    -85.75736
    Latitude
    38.3192631

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    FAQs

    What type of property is this?
    Conventional restaurant - Restaurant building on 1.29 acres with excellent road frontage.
    Where is this conventional restaurant located?
    The property is located at 1440 Vaxter Avenue Clarksville, IN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Excellent location with high visibility near Green Tree Mall and Bass Pro, plus pole sign visible from I‑65 and Lewis & Clark Pkwy.; High‑capacity parking with 113 spaces on a 38,890 SF asphalt lot.; 6,810+\/- SF building on a 1.29+\/- acre lot with road frontage on two streets.
    (812) 738-9476
    We can help!
    Listing Contact
    Brian Beckort
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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