It happened Monday night in the 1600 block of Travis just before 5.
They say the 67 year old victim was taken to United Regional and was listed in serious condition.
Officers say they recovered the victim's car at Reynolds and Harrell Lane, but the suspect is still missing.
The suspect is described as a black male with a goatee about 5-8 between the ages of 20 and 40, wearing a white t-shirt, baggy jeans and possibly a black bandanna.
Police say he may have also been injured during the robbery and is considered armed and dangerous.
Detectives are looking for information from anyone who may have seen the suspect driving the victim's car on the east side of town before it was found last night.
If you have any information regarding this incident, you're urged to call Detective John Laughlin during business hours at 761-7762 or after hours at 761-7792.
You can also call Crime Stoppers at 322-9888.
Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.