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    1632 Greentree Blvd Clarksville, IN 47129
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    1632 Greentree Blvd Clarksville, IN 47129

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    • Apartment buildings
    For Sale
    $3,100,000
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    Flats at Greentree Apartments For Sale
    $3,100,000

    Flats at Greentree Apartments

    Stabilized multifamily property in Clarksville, Indiana with recent renovations.

    1632 Greentree Blvd, Clarksville, IN 47129
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    Property ID
    US31-1313253
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1632 Greentree Blvd

    Year built
    1969
    Property type
    Apartment buildings

    Description

    Hoagland Commercial Realtors is pleased to present for sale the Flats at Greentree Apartment Homes in Clarksville, Indiana. Located in a desirable and growing submarket, this asset presents investors with the opportunity to purchase a stabilized multifamily property that has recently undergone drastic overhaul both operationally and with regard to the physical property itself. The Flats at Greentree features thirty-one 1-br units and one 2-br unit. The facility has on-site coin laundry, with all-new machines as of August 2023. Current ownership has turned all of the units and tenants within the past eighteen months. Three out of four hot water heaters replaced in 2024, with the remaining one having been replaced in 2022. Over the past couple of years, the exterior of the property itself has received many CapEx updates, including but not limited to: • New windows and exterior doors on all buildings • New parking lot paving and striping • New paint on entirety of exterior • New roofs in 2020 Reach out to agents today for more information.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Clarksville
    County
    Clark
    State
    Indiana
    Longitude
    -85.766633
    Latitude
    38.3219124

    Comparable in this City

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      Clarksville Site for Development

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      2.346 Acre Clarksville Site, Clarksville, IN 47129
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    • $1,690,000
      6,132 SF

      Prime Clarksville Restaurant Space

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      Commercial Site with Greenhouse

      3-acre commercial site with building and greenhouse in Clarksville.
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      Prime Commercial Land I-65 Visibility

      Over 6 acres of commercial land with high visibility.
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      Versatile Building with Ample Parking

      Adaptable building suitable for various ventures with outdoor seating.
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      Restaurant Building on 1.29 Acres

      Restaurant building on 1.29 acres with excellent road frontage.
      1440 Vaxter Ave, Clarksville, IN 47129
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      Clarksville Site for Development

      2.346-acre site suitable for hotel, restaurant, retail, or apartments.
      2.346 Acre Clarksville Site, Clarksville, IN 47129
      View Details
    • Contact for pricing

      Prime Land in Thriving Area

      1.75-acre parcel ideal for medical, office, or retail use.
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      1,482 SF

      Commercial Property on Bowling Lane

      Well-maintained 1,482 SF commercial building suitable for various businesses.
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      Branded Gas Station Convenience Store

      Well-positioned gas station with convenience store and upside potential.
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      Former Fitness Facility For Sale

      20,316 SF commercial building near I-65 and Lewis & Clark Parkway.
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    Similar Nearby for Lease

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      Redevelopment Opportunity Near I-65

      6,356 SF property suitable for redevelopment or expansion.
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      Office, Medical, Retail Space Available

      Suites available in high-traffic area suitable for various uses.
      1446 E Horn St, Clarksville, IN 47129
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    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, offering 2,175 SqFt.
      1440 Veterans Pkwy, Clarksville, IN 47129
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    • Contact for pricing

      Retail Space Near Greentree Mall

      3,200 SF end cap retail space for lease.
      650 E Lewis And Clark Pkwy, Clarksville, IN 47129
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      Retail Space Near Greentree Mall

      Retail spaces available near Greentree Mall with utilities included.
      711 E Lewis And Clark Pkwy, Clarksville, IN 47129
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      22,000 SF Warehouse with Hoists

      22,000 SF warehouse featuring multiple overhead doors and hoists.
      1407 Emery Xing, Clarksville, IN 47129
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    Clarksville, IN 47129
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    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.

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