Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1145 Lafayette Ave Terre Haute, IN 47804

    Sponsored
    For Sale
    $329,900

    Restaurant/Bar - Terre Haute, IN

    Days on Market:
    2
    Last Refresh:
    Feb 7 at 1:06 am

    Property Features for 1145 Lafayette Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Zoning
    C2
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
    Bathrooms
    5
    APN
    84-06-15-135-002.000-002
    Interior features
    Security System, Fixtures, Furniture, License, Restroom(s), 220 Volts, Inventory, Inside Storage, Living Space, Handicap Access, Handicap Restroom
    Accessibility
    Accessible Approach with Ramp

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Central Air, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Floors in Building
    2
    Architectural style
    Other

    We can help!

    Listing Contact
    BOBBI BURNS

    Remax Real Estate Associates (812) 235-4433

    Listing agent BOBBI BURNS (812) 235-4433 License #RB14029244

    Listing date Feb 6, 2026

    MLS# 108528 Listing URL

    Copyright © 2026 Terre Haute Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Restaurant/Bar with 3-Way Liquor License

    This bar and restaurant is located just north of Union Hospital and the ISU campus, and just south of the 12 points intersection in Terre Haute, IN. The property includes a 3-way liquor license. The interior decor features a country/western vibe, making it suitable as a country/western bar. A separate family dining area could function as an event space. A private back bar area with a separate entrance leads to the outdoor patio, suitable for hosting private events. The property is currently generating revenue. Additionally, there are 4 apartments providing almost $18,000 per year in additional income. The location has experienced revitalization.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wagon Wheel Bar & Pub

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Couch Studios, Tollys Bar and Grill, Wagon Wheel, Nina's

    Location Insight

    • Map
    • Local Demand
    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.400676
    Latitude
    39.488894

    Nearby Similar for Sale

    • $849,900
      6.38 Acres

      Versatile Commercial Property on 5+ Acres

      19,200 sq ft property with endless commercial potential.
      10001 E Margaret Dr, Terre Haute, IN 47803
      View Details
    • $440,000
      0.40 Acres

      Turnkey Restaurant and Bar Opportunity

      Fully equipped restaurant/bar with apartments in prime location.
      1367 Wabash Ave, Terre Haute, IN 47807
      View Details
    • $699,000
      1.29 Acres

      Highway Frontage Commercial Opportunity

      Flexible commercial property with showroom, office, and warehouse space.
      5015 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • $600,000
      0.28 Acres

      Established Restaurant and Bar Opportunity

      Well-established restaurant/bar with banquet hall near Indiana State University.
      932 Locust St, Terre Haute, IN 47807
      View Details
    • $325,000
      0.82 Acres

      Freestanding Commercial Building on Lafayette

      Freestanding commercial building with high visibility and move-in readiness.
      2160 Lafayette Ave, Terre Haute, IN 47805
      View Details
    • $849,000
      12,849 SF

      Retail/Service Property Near I-70

      11,462 SF steel building on 0.74 acres near I-70.
      2509 S 1St St, Terre Haute, IN 47802
      View Details
    • $199,000
      1.48 Acres

      Skating Rink with C2 Zoning

      Skating rink with hardwood floor, lounge, kitchen, and ample parking.
      4600 N Smith St, Terre Haute, IN 47805
      View Details
    • $5,250,000
      5.00 Acres

      Retail/Service Property on US 41

      19,000 SF building on 5 acres, high traffic location.
      4120 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • $4,000,000
      4.00 Acres

      Retail/Service Property in Terre Haute

      Former auto dealership on 4 acres with high traffic.
      4120 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • $649,900
      1.28 Acres

      Spacious Office Building, Terre Haute

      Versatile office building with ample space and convenient location.
      3900 S 7Th St, Terre Haute, IN 47802
      View Details
    • $638,000
      1.00 Acre

      Restaurant/Bar Opportunity in Terre Haute

      Building and two houses for sale in Terre Haute, Indiana.
      2949 S 5Th St, Terre Haute, IN 47802
      View Details
    • $1,850,000
      3.31 Acres

      Terre Haute Industrial/Warehouse Space

      Industrial/warehouse space with office, docks, and ample parking.
      5150 E Margaret Dr, Terre Haute, IN 47803
      View Details

    FAQs

    What type of property is this?
    Bar - Bar and restaurant near Union Hospital and ISU campus.
    Where is this bar located?
    The property is located at 1145 Lafayette Ave Terre Haute, IN.
    What is the asking price?
    The asking price for this property is $329,900.
    What are key features of this property?
    This property features: - Operating bar and restaurant with a 3-way liquor license.; - Excellent location near Union Hospital, ISU campus, and the revitalized 12 Points area.; - Additional income from 4 apartments, grossing almost $18,000 per year.
    (812) 235-4433
    Request Owner's contact information
    1145 Lafayette Ave Terre Haute, IN 47804
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1145 Lafayette Ave
    Terre Haute, IN 47804
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1145 Lafayette Ave Terre Haute, IN 47804
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    BOBBI BURNS
    Real Estate License ID: RB14029244
    (812) 235-4433
    Learn more
    Google sign-in failed. Please try again or use another login method.