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    Property profile & analytics

    951 Lewis And Clark Pkwy Clarksville, IN 47129-7400

    • Outlet malls
    • 47,348 SF
    • 3.71 lot acres
    OFF-MARKET
    Value Estimations
    $2,970,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2049797
    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

    • Outlet malls

    Property Details for 951 Lewis And Clark Pkwy

    Year built
    1991
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.71 lot acres
    Property size
    47,348 SF
    Property type
    Outlet malls
    APN
    10-24-03-200-392.000-013
    APU
    102403200392000013

    Description

    This exceptional 308,291 square-foot shopping center in Clarksville, Indiana, presents a compelling investment opportunity. Shadow-anchored by a 286,000 square-foot Bass Pro Shops (the second largest in the U.S.), this multi-tenant property boasts a remarkable 97% occupancy rate. Its strategic location at the I-65 freeway on/off ramp ensures high visibility and accessibility, with an estimated 80,000 cars passing daily. The center benefits from a strong tenant base, with 90% national and regional tenants, and 67% having occupied the space since at least 2013. Significant renovations were completed in 2013 to the Value City Furniture/Fun City Trampoline Park, including facade, parking lot, roof, HVAC, landscaping, and utilities. The property sits on 24.25 acres and was built in 1991. Located within the Clarksville Redevelopment District, this asset benefits from a thriving market with a 2.3% unemployment rate and projected 36% population growth over ten years. The property's location within the Louisville, KY MSA (1.2 million people) further enhances its appeal. The substantial regional draw of the Bass Pro Shops, with 45% of shoppers traveling over 30 miles, contributes to the property's exceptional performance and significant upside potential. APN: 10-24-03-200-949.000-013, 10-24-03-200-950.000-013, 10-24-03-200-951.000-013, 10-24-03-200-954.000-013. Address: 951 East Lewis and Clark Parkway, Clarksville, IN 47129.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,971,000
      Market price range: $1.20M - $4.60M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,970,000
      Current use
      COMMERCIAL (GENERAL)
      $3,585,000
      Change: +21% Conversion: Easy
      RESTAURANT
      $3,235,000
      Change: +9% Conversion: Easy
      MEDICAL BUILDING
      $3,165,000
      Change: +6% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,685,000
      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
    -85.7597
    Latitude
    38.3204
    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
    2022
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      16,280 SF

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    • Value Estimation
      $2,820,000
      124,880 SF

      1025 Veterans Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 124,880 SF
      1025 Veterans Pkwy, Clarksville, IN 47129-2372
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    • Value Estimation
      $13,130,000
      136,949 SF

      1351 Veterans Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 136,949 SF
      1351 Veterans Pkwy, Clarksville, IN 47129-7747
      View Details
    • Value Estimation
      $1,695,000
      12,710 SF

      636 Eastern Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 12,710 SF
      636 Eastern Blvd, Clarksville, IN 47129-2454
      View Details
    • Value Estimation
      $1,805,000
      19,250 SF

      150 Hunter Sta

      WHOLESALE OUTLET, DISCOUNT STORE • 19,250 SF
      150 Hunter Sta, Clarksville, IN 47129
      View Details
    • Value Estimation
      $2,970,000
      135,844 SF

      1350 Veterans Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 135,844 SF
      1350 Veterans Pkwy, Clarksville, IN 47129-7745
      View Details

    Similar Nearby for Sale

    • $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
      View Details
    • Contact for pricing
      1.75 Acres

      1.75 Acres Clarksville, IN Land

      Prime Southern Indiana commercial land. High-traffic location.
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    • $750,000

      Prime Clarksville BP Station

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    • $245,000
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      Clarksville Retail Space - Prime Location

      Updated Retail Space, Ample Parking, Great Visibility
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    • $995,000
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      High-Visibility Clarksville Retail Property

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    • Contact for pricing
      0.60 Acres

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    Similar Nearby for Lease

    • $18 SF/Yr
      12,900 SF

      Enclosed Mall Space For Rent

      Enclosed mall space available for lease in southern Indiana.
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      View Details
    • Contact for pricing
      37,802 SF

      Green Tree Mall Retail Spaces

      Clarksville, IN: 13 Retail Spaces Available
      757 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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    • $16 SF/Yr
      6,132 SF

      Prime Restaurant Space on Broadway

      Turnkey Restaurant, High Visibility, 6,132 SF
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    • $20 SF/Yr
      12,240 SF

      Clarksville Retail Space Available

      Prime Clarksville location, two suites available.
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    • $20 SF/Yr
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      Prime Clarksville Retail Space

      3,200 SF End Cap Available
      650 Lewis And Clark Pkwy, Clarksville, IN 47129
      View Details
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    951 Lewis And Clark Pkwy
    Clarksville, IN 47129-7400
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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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