Retail Space Near Green Tree
For Sale
$735,000
600 East Lewis and Clark Parkway, Clarksville, IN 47129
Retail space with high visibility near major shopping centers.
Property Size3,650 SF
Lot Size0.52 Acres
Price / SF$201.37
Days on Market153
Property Features for 600 East Lewis and Clark Parkway
General Information
Standard status
Active
Size
3,650 SF
Lot size
0.52 Acres
Property subtype
Retail
Listing Agency:
CBRE Inc.
(502) 412-7607
Listed By:
Clay Hunt · License #KY 71469
(502) 412-7607
Source:
Cbre
Added: Mar 25
Changed: Aug 14
Last Checked: Aug 23 at 9:46AM
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 CBRE Inc.
Investment Insights
Based on property information with market context.
This commercial property offers approximately 3,650 square feet of retail space on a 0.52-acre lot. The property benefits from high visibility and is located in a high-traffic area near Green Tree Mall, Bass Pro Shops, Kroger, At Home, Value City Furniture, Dick’s Sporting Goods, and Old Time Pottery. It fronts the Clarksville Towne Center, which includes Big Lots, Ollie’s Bargain Outlet, and Xtremenasium Trampoline Park. Pylon signage is available, and the property has good access from E. Lewis & Clark Parkway.
Key Highlights
- High traffic location near Green Tree Mall, Bass Pro Shops, Kroger, At Home, Value City Furniture, Dick’s Sporting Goods, Old Time Pottery
- Great visibility** fronting Clarksville Towne Center (Big Lots, Ollie’s Bargain Outlet, Xtremenasium Trampoline Park)
- Good access from E. Lewis & Clark Pkwy
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
$44,058
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
5.99%
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%
$881,160
$881.2K
Cap Rate 7%
$629,400
$629.4K
Cap Rate 9%
$489,533
$489.5K
Market Conditions
NOI Build-Up for 3,650 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
$65.7K $18.00/SF
− Vacancy
−$2.8K −$0.76/SF
EGI
$62.9K $17.24/SF
− OpEx
−$18.9K −$5.17/SF
NOI
$44.1K $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%
$881,160
Cap Rate 7%
$629,400
Cap Rate 9%
$489,533
Alternative Uses
Best Use
Retail
$629.4K
$550.7K – $734.3K
NOI $44,058 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$928.6K – $1.24M
NOI $74,285 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space with high visibility near major shopping centers.
Where is this retail space located?
The property is located at 600 East Lewis and Clark Parkway Clarksville, IN.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: High traffic location near Green Tree Mall, Bass Pro Shops, Kroger, At Home, Value City Furniture, Dick’s Sporting Goods, Old Time Pottery; Great visibility** fronting Clarksville Towne Center (Big Lots, Ollie’s Bargain Outlet, Xtremenasium Trampoline Park); Good access from E. Lewis & Clark Pkwy
