Turnkey Flex
For Sale
Contact for pricing
3011 Blackiston Mill Rd, Clarksville, IN 47129
Updated office space and a rear warehouse with loading docks on a parking-friendly lot, currently operating as an HVAC business.
Property Size4,525 SF
Lot Size0.68 Acres
Price / SF$121.55
Days on Market138
Property Features for 3011 Blackiston Mill Rd
General Information
Standard status
Active
Size
4,525 SF
Lot size
0.68 Acres
Property subtype
OFFICE
Listing Agency:
FC Tucker Kentuckiana
(502) 315-4629
Listed By:
Christopher Fox
(502) 489-7806
Source:
Moodyscre
Added: Apr 22
Changed: Aug 15
Last Checked: Jul 22 at 2:27PM
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 FC Tucker Kentuckiana
Investment Insights
Based on property information with market context.
This turnkey commercial property includes a front building and a rear warehouse/shop on a single lot. The front building totals 2,821 square feet and features 1,653 square feet of remodeled office space on the main level, along with a leased upstairs apartment. Both levels have been updated for a move-in-ready setup.
At the rear, there is a 1,704 square foot warehouse/shop building with loading docks, designed to support service-based operations, storage, or distribution activities. The lot is 0.6751 acres and is laid out to accommodate ample parking and maneuvering for work trucks and equipment.
The property is currently operating as an HVAC company and is positioned to serve the broader Southern Indiana and Louisville metro area.
At the rear, there is a 1,704 square foot warehouse/shop building with loading docks, designed to support service-based operations, storage, or distribution activities. The lot is 0.6751 acres and is laid out to accommodate ample parking and maneuvering for work trucks and equipment.
The property is currently operating as an HVAC company and is positioned to serve the broader Southern Indiana and Louisville metro area.
Key Highlights
- Front building totals 2,821 SF with 1,653 SF remodeled office space on the main level
- Upstairs includes a leased apartment, providing additional rental income
- Rear warehouse/shop building offers 1,704 SF with loading docks
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
$39,474
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
7.18%
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%
$789,480
$789.5K
Cap Rate 7%
$563,914
$563.9K
Cap Rate 9%
$438,600
$438.6K
Market Conditions
NOI Build-Up for 4,525 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
$65.2K $14.40/SF
− Vacancy
−$4.4K −$0.98/SF
EGI
$60.7K $13.42/SF
− OpEx
−$21.3K −$4.70/SF
NOI
$39.5K $8.72/SF
Area
Clark County, IN
Vacancy
6.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$789,480
Cap Rate 7%
$563,914
Cap Rate 9%
$438,600
Alternative Uses
Best Use
Office B
$986.7K
$863.4K – $1.15M
NOI $69,070 @ 7.0% cap · market cap 12.56%
Second Best
Flex RnD
$563.9K
$493.4K – $657.9K
NOI $39,474 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$1.32M
$1.15M – $1.53M
NOI $92,093 @ 7.0% cap · market cap 16.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - Updated office space and a rear warehouse with loading docks on a parking-friendly lot, currently operating as an HVAC business.
Where is this flex space located?
The property is located at 3011 Blackiston Mill Rd Clarksville, IN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Front building totals 2,821 SF with 1,653 SF remodeled office space on the main level; Upstairs includes a leased apartment, providing additional rental income; Rear warehouse/shop building offers 1,704 SF with loading docks
