230 Montgomery AveClarksville, IN 47129

Property Details for 230 Montgomery Ave

Year built

1925

Construction

WOOD

Lot size

0.84 AC

Property size (Sq ft)

27,032 SF

Property type

Office properties

APN

10-14-00-103-238.000-012

APU

101400103238000012

Description

This exceptional two-story, 20,997 square foot executive office complex in Clarksville, Indiana, presents a unique investment opportunity. Built in 1925 and renovated in 1970, this property boasts a rich history, having served as both a school and Clarksville's town government offices. Currently, the entire 20,997 square feet is available for lease, offering multiple tenancy options. The building features a first-floor space leasing for $3,400 per month, a second-floor space leasing for $3,900 per month, and a lower-level space leasing for $2,750 per month (all gross lease amounts). An attached 8,927 square foot gymnasium is also available for lease at $3,500 per month plus $2 per square foot for utilities, totaling $5,000 per month gross lease amount. The property is zoned B-1 and sits on a 0.8434-acre lot (per county assessor). Its prime location across from the Clarksville Little Theatre and Clarksville Aquatic Center, with easy access to I-65 and downtown Louisville, Kentucky, makes it highly desirable. All square footage sizes are estimated. The APN is 101400103238000012.

• CAP approach

  CAP return

  Valuation

  6%

  $4,865,180

  6.5%

  $4,490,930

  7%

  $4,170,150

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,326,910

  Geo Method

  $2,326,910

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,035,440

  Retail / Commercial

  $4,595,380

  Mixed-Use / Specialty

  $4,549,100

  Hospitality / Lodging

  $3,298,600

  Institutional / Educational

  $4,718,550

  Residential Income

  $5,520,700

  Multifamily

  $6,786,990

  Automotive / Energy

  $4,044,470

  Parking / Income-Based Land

  $1,425,240

  Restaurant / Food Service

  $2,302,210

  Healthcare / Senior Housing

  $4,695,680

Location Insight

City

Clarksville

County

Clark

State

Indiana

Latitude

38.2784

Longitude

-85.757

CBSA code

31140

CBSA name

LOUISVILLE-JEFFERSON COUNTY, KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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