Updated Flex Property with
For Sale
$525,000
3013 Blackiston Mill, Clarksville, IN 47129
Commercial, Clarksville, IN
Property Size1,653 SF
Lot Size0.56 Acres
Price / SF$317.60
Days on Market48
Property Features for 3013 Blackiston Mill
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
102406300079000013
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
4051
Tax Description
Walnut Grove Gt 63 0.6751 ac Lots 1a-1b-1c Map Desc:# 24-70067-43-1
Tax Annual Amount
9908
Legal Description
Walnut Grove Gt 63 0.6751 ac Lots 1a-1b-1c Map Desc:# 24-70067-43-1
Listing Agency:
FC Tucker Kentuckiana · Keller Williams Realty
(502) 805-7653
Listed By:
Christopher A Fox
(502) 489-7806
Added: Jul 30
Changed: Sep 13
Last Checked: Sep 15 at 2:06AM
MLS# 2026010578
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.
This flex property at 3013 Blackiston Mill in Clarksville combines office, residential, and warehouse components. The front building contains 2,821 square feet, including 1,653 square feet of remodeled main-level office space. The upper level includes a leased apartment, while both levels have been updated. A separate 1,704-square-foot warehouse and shop building at the rear adds loading docks and functional space for business operations, storage, or distribution.
The property is positioned to serve Southern Indiana and the Louisville metro area. Its 0.56-acre lot provides parking and maneuvering room for work trucks and equipment. The existing configuration supports an HVAC operation while offering a flexible setup for an owner-user or expanding business.
The property is positioned to serve Southern Indiana and the Louisville metro area. Its 0.56-acre lot provides parking and maneuvering room for work trucks and equipment. The existing configuration supports an HVAC operation while offering a flexible setup for an owner-user or expanding business.
Key Highlights
- 2,821‑square‑foot front building with 1,653 square feet of main‑level office space
- 1,704‑square‑foot rear warehouse and shop building with loading docks
- Leased apartment occupies the upper level of the front building
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
$25,231
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
4.81%
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%
$504,620
$504.6K
Cap Rate 7%
$360,443
$360.4K
Cap Rate 9%
$280,344
$280.3K
Market Conditions
NOI Build-Up for 1,653 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
$39.7K $24.00/SF
− Vacancy
−$6.0K −$3.65/SF
EGI
$33.6K $20.35/SF
− OpEx
−$8.4K −$5.09/SF
NOI
$25.2K $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%
$504,620
Cap Rate 7%
$360,443
Cap Rate 9%
$280,344
Alternative Uses
Best Use
Office B
$360.4K
$315.4K – $420.5K
NOI $25,231 @ 7.0% cap · market cap 4.81%
Second Best
Mixed Use
$223.6K
$195.6K – $260.8K
NOI $15,649 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$480.6K
$420.5K – $560.7K
NOI $33,642 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Office, leased apartment, and dock-served shop space support varied business operations.
Where is this flex space located?
The property is located at 3013 Blackiston Mill Clarksville, IN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,821‑square‑foot front building with 1,653 square feet of main‑level office space; 1,704‑square‑foot rear warehouse and shop building with loading docks; Leased apartment occupies the upper level of the front building
