Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5919 Highway 31 E Clarksville, IN 47129

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $740,000

    60-unit storage complex with office and expansion potential.

    Lot size:
    4.24 Acres
    Added:
    Jul 15, 2023
    Days on Market:
    993
    Last Refresh:
    Mar 31 at 10:49 am

    Property Features for 5919 Highway 31 E

    General Information

    Standard status
    Active
    Lot size
    4.24 Acres
    Property subtype
    Other

    We can help!

    Listing Contact
    Cinda Harbeson

    Listing agent Cinda Harbeson

    Listing office Advantage Plus Real Est. Team

    Listing date Jul 15, 2023

    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 Advantage Plus Real Est. Team

    Overview

    Storage Complex with Expansion Potential

    This property features a 60-unit storage complex with an office and electric gate access. Situated on 4.2428 acres, the site offers future potential for growth. The storage units are conveniently located near Interstate 65, Clarksville, and Sellersburg, with easy access to numerous apartment complexes.
    Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Real Estate Agency Building Supply Auto Repair Shop Big Box & Wholesale Store Hotel & Motel Kitchen & Bath Showroom Auto Parts Store Discount Store Electronics & Wireless Store Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Clarksville
    County
    Clark
    State
    Indiana
    Longitude
    -85.74815
    Latitude
    38.349594

    Nearby Similar for Sale

    • $735,000
      3,650 SF

      Retail Space Near Green Tree Mall

      Retail space with high visibility near major shopping centers.
      600 East Lewis and Clark Parkway, Clarksville, IN, 47129
      View Details
    • $650,000
      5,625 SF

      Clarksville Commercial Property with Parking

      B-1 Zoned commercial property with ample parking and accessibility.
      412 Hale Rd, Clarksville, IN
      View Details
    • $300,000
      1,482 SF

      Commercial Property on Bowling Lane

      Well-maintained 1,482 SF commercial building suitable for various businesses.
      122 Bowling Ln, Clarksville, IN 47129
      View Details
    • $1,752,000
      6,786 SF

      Green Tree Mall Outparcel Property

      Retail property with in-place NOI of $122,608 for sale.
      709 E Lewis and Clark Pkwy, Clarksville, IN
      View Details
    • $690,000
      6,800 SF

      Versatile Commercial Building with Theater

      Adaptable commercial space featuring a theater/stage in a prime location.
      128 E Bell Avenue, Clarksville, IN 47129
      View Details
    • $299,000
      1,704 SF

      Versatile Commercial Office Space

      Commercial office space with storage and additional attached building.
      2505 Lincoln Drive, Clarksville, IN 47129
      View Details
    • $1,875,000
      3,910 SF

      Freestanding Building on Corner Lot

      Two-story building on 1.35 acre lot near I-65.
      950 E Lewis and Clark Pkwy, Clarksville, IN
      View Details
    • $560,000
      7,920 SF

      Established Bakery and Commercial Building

      Iconic bakery, building, and land for sale in Clarksville.
      1051 N Clark Boulevard, Clarksville, IN 47129
      View Details
    • $499,000
      3,600 SF

      Turnkey Restaurant Opportunity

      Updated restaurant building with patio and ample parking for sale.
      1515 Lynch Lane, Clarksville, IN 47129
      View Details
    • $5
      25,700 SF

      Versatile Commercial Space for Sale

      25,700+ sq ft showroom, office, retail, and warehouse space.
      1407 Emery Crossing, Clarksville, IN 47129
      View Details
    • $349,900
      6,000 SF

      Industrial Property with Office Space

      Industrial and office space for sale in Clarksville, Indiana.
      1616 Potters Lane, Clarksville, IN 47129
      View Details
    • $3,100,000

      Flats at Greentree Apartments

      Stabilized multifamily property in Clarksville, Indiana with recent renovations.
      1632 Greentree Blvd, Clarksville, IN 47129
      View Details

    FAQs

    What type of property is this?
    Self storage facility - 60-unit storage complex with office and expansion potential.
    Where is this self storage facility located?
    The property is located at 5919 Highway 31 E Clarksville, IN.
    What is the asking price?
    The asking price for this property is $740,000.
    What are key features of this property?
    This property features: 60 Unit storage complex with office included.; Convenient location near Interstate 65, Clarksville, and Sellersburg.; Electric gate access.
    (812) 945-2222
    We can help!
    Listing Contact
    Cinda Harbeson
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!