Clarksville Retail
For Sale
$1,800,000
504 E Lewis And Clark Pkwy, Clarksville, IN 47129
C-2-zoned storefront with signage along Lewis and Clark Parkway.
Property Size8,827 SF
Price / SF$203.92
Days on Market365
Property Features for 504 E Lewis And Clark Pkwy
General Information
Standard status
Active
Size
8,827 SF
Property subtype
Retail
Zoning
C-2
Amenities
Water
Sewer
Natural Gas
Building Details
Year Built
2010
Listing Agency:
FJR Commercial
(502) 892-0228
Listed By:
Brian Forrest · License #204818
(502) 892-0228
Source:
Kcrea.resimplifi
Added: Sep 1, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:58PM
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 FJR Commercial
Investment Insights
Based on property information with market context.
This storefront retail property is located at 504 E Lewis and Clark Pkwy in Clarksville, Indiana. The building was constructed in 2010 and carries C-2 zoning. The property was formerly used for medical purposes, providing a prior commercial-use context for the existing building.
Signage is positioned along Lewis and Clark Parkway, giving the property an identifiable presence on the corridor. The asset is being offered for sale or lease and is presented as a retail-oriented commercial property suitable for consideration by businesses evaluating a storefront location.
Signage is positioned along Lewis and Clark Parkway, giving the property an identifiable presence on the corridor. The asset is being offered for sale or lease and is presented as a retail-oriented commercial property suitable for consideration by businesses evaluating a storefront location.
Key Highlights
- 8,827‑square‑foot retail storefront
- C‑2 zoning
- Constructed in 2010
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
$106,549
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
5.92%
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%
$2,130,980
$2.1M
Cap Rate 7%
$1,522,129
$1.5M
Cap Rate 9%
$1,183,878
$1.2M
Market Conditions
NOI Build-Up for 8,827 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
$158.9K $18.00/SF
− Vacancy
−$6.7K −$0.76/SF
EGI
$152.2K $17.24/SF
− OpEx
−$45.7K −$5.17/SF
NOI
$106.5K $12.07/SF
Area
Clark County, IN
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,130,980
Cap Rate 7%
$1,522,129
Cap Rate 9%
$1,183,878
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.78M
NOI $106,549 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $2.99M
NOI $179,647 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
709
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kroger Floral — 305 E Lewis and Clark Pkwy, Clarksville, IN 47129
Frequently Asked Questions
What type of property is this?
Storefront property - C-2-zoned storefront with signage along Lewis and Clark Parkway.
Where is this storefront property located?
The property is located at 504 E Lewis And Clark Pkwy Clarksville, IN.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 8,827‑square‑foot retail storefront; C‑2 zoning; Constructed in 2010
