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    Property profile & analytics

    650 Lewis And Clark Pkwy Clarksville, IN 47129

    • Retail space
    • 8,000 SF
    • 0.75 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Value Estimations
    $590,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2382902
    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.

    Current Use by Public Records

    • Retail space

    Property Details for 650 Lewis And Clark Pkwy

    Year built
    2002
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.75 lot acres
    Property size
    8,000 SF
    Property type
    Retail space
    APN
    10-14-01-900-499.000-012
    APU
    101401900499000012

    Description

    This 3,200 square foot retail storefront is located at 650 E. Lewis and Clark Pkwy in Clarksville, Indiana, 47129. The space is part of a well-maintained, two-tenant brick building, with Mattress Firm as the existing tenant. The property features pylon signage and two convenient curb cuts from Lewis & Clark Parkway. Landscaping is attractive and well-maintained. This end-cap space offers excellent visibility and accessibility, situated across from Greentree Mall, near Bass Pro Shops, and directly in front of a soon-to-be-built Rural King. The building's total square footage is 7,886, with a single story and no elevators. The zoning is B-2, making it ideal for a variety of retail, restaurant, or service-based businesses. The property offers high traffic counts due to its prime location. The minimum divisible space is 3,200 square feet, and the maximum contiguous space available is also 3,200 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $430,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $746,000
      Market price range: $203k - $778k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $500,000
      Current use
      COMMERCIAL (GENERAL)
      $605,000
      Change: +21% Conversion: Easy
      MEDICAL BUILDING
      $550,000
      Change: +10% Conversion: Difficult
      RESTAURANT
      $545,000
      Change: +9% Conversion: Easy
      AUTO REPAIR, GARAGE
      $455,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clarksville
    County
    Clark
    State
    Indiana
    Longitude
    -85.7651
    Latitude
    38.3117
    CBSA code
    31140
    CBSA name
    LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $27,525
    $602,400
    $315,100
    $917,500
    -
    $602,400
    $315,100
    $917,500

    Comparable in this City

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      View Details
    • Value Estimation by Request
      2,880 SF

      1609 Blackiston Vw Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,880 SF
      1609 Blackiston Vw Dr, Clarksville, IN 47129-2058
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    • Value Estimation
      $1,520,000
      14,337 SF

      1106 Veterans Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 14,337 SF
      1106 Veterans Pkwy, Jeffersonville, IN 47129-2370
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    • Value Estimation by Request
      2,773 SF

      1413 Progress Way, Unit 1421

      RETAIL STORES (PERSONAL SERVICES) • 2,773 SF
      1413 Progress Way, Clarksville, IN 47129-8975
      View Details
    • Value Estimation
      $2,025,000
      2,619 SF

      1219 Veterans Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 2,619 SF
      1219 Veterans Pkwy, Clarksville, IN 47129-2400
      View Details
    • Value Estimation by Request
      7,500 SF

      128 Bell Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,500 SF
      128 Bell Ave, Clarksville, IN 47129-1859
      View Details

    Similar Nearby for Sale

    • $1,100,000
      1.01 Acres

      Clarksville, IN QSR Outlot

      Prime QSR Outlot, High Traffic Area
      756 Lewis And Clark Pkwy, 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 47129
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    • $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 47129
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    • $1,690,000
      6,132 SF

      Prime Clarksville Restaurant Space

      Outback Building - Sale/Lease Available
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      Clarksville Retail Space - Huge Potential

      Versatile commercial property with ample storage.
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      High-profit gas station & convenience store
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    Similar Nearby for Lease

    • $20 SF/Yr
      7,886 SF

      Prime Clarksville Retail Space

      3,200 SF End Cap Available
      650 Lewis And Clark Pkwy, Clarksville, IN 47129
      View Details
    • $20 SF/Yr
      12,240 SF

      Clarksville Retail Space Available

      Prime Clarksville location, two suites available.
      711 Lewis And Clark Pkwy, Clarksville, IN 47129
      View Details
    • $15 SF/Yr
      20,154 SF

      Retail Space Near Interstate I-65

      Retail spaces with high visibility and easy interstate access.
      1401 Veterans Pkwy, Clarksville, IN 47129
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    • $12 SF/Yr
      25,034 SF

      Former Movie Theater Available

      Old movie theater ready for a new life.
      1601 Greentree Blvd, Clarksville, IN 47129
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    • Contact for pricing
      43,996 SF

      Clarksville, IN Retail Outlot

      High-visibility 1-acre retail outlot.
      756 Lewis And Clark Pkwy, Clarksville, IN 47129
      View Details
    • $18 SF/Yr
      12,900 SF

      Enclosed Mall Space For Rent

      Enclosed mall space available for lease in southern Indiana.
      823 E Lewis And Clark Pkwy, Clarksville, IN 47129
      View Details
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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.

    More about this property
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