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    Commercial Warehouse Building For Lease Title is generated by Realmo AI

    1430 E Springhill Drive, Terre Haute, IN 47802

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    For Lease
    $3,000 /Mo

    Retail/Service - Terre Haute, IN

    Added:
    Mar 9, 2026
    Days on Market:
    71
    Last Refresh:
    May 18 at 6:06 pm

    Property Features for 1430 E Springhill Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    C-6
    Bathrooms
    1
    Rooms
    Bathroom 1
    Interior features
    Restroom(s), 220 Volts, Inside Storage
    Standard status
    Active
    APN
    84-09-10-252-008.000-004

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    LARRY BOHNERT

    Listing agent LARRY BOHNERT License #RB14018106

    Listing office SYCAMORE REALTY Group, INC. 901 S. 25th Street., IN

    Listing date Mar 9, 2026

    MLS# 108742 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.

    HighLights

    • Highly visible corner location with good street exposure and easy access to highways and local roads.
    • Multiple overhead doors provide convenient loading access for delivery trucks and operations.
    • Durable metal exterior panels and metal trim offer low maintenance and long‑term durability.
    • Paved and gravel parking areas provide ample space and easy vehicle access.
    • Suitable for a variety of uses: delivery trucks, light industrial, storage, contractor operations, small business, warehouse, or service‑type tenants.
    • Utilities are in place, including 220 Volts, natural gas heating, central air cooling, and interior restroom.

    Overview

    The property available for lease is a well-maintained commercial warehouse building constructed with metal siding and a gable roof design. The structure is a frame building with durable ribbed metal exterior panels and metal trim, providing low maintenance and long-term durability. The building includes multiple overhead doors for loading access, as well as standard entry doors for office or personnel use. The site offers both paved and gravel parking areas with easy vehicle access, suitable for delivery trucks, light industrial use, storage, or contractor operations. It is situated on a corner location with good street exposure and convenient access to nearby highways and local roads. Utilities are in place, and exterior lighting and utility connections are installed along the building. The surrounding area includes a mix of commercial, light industrial, and residential uses, making the property suitable for a variety of small business, warehouse, or service-type tenants. The overall condition of the building is average to good, with functional construction, adequate access, and a layout suitable for storage, shop, warehouse, or light manufacturing use. The property is located in Terre Haute, IN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Prime Pallets LLC Big Box & Wholesale Store Springhill Services LLC HVAC Service Harrah Plumbing & Heating ... Plumbing Service Amerestore - America's Restoration ... Hardware & Home Improvement City Plumbing, Heating ... HVAC Service

    Suggested Use

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

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

    Similar Places Nearby

    • Terre Haute Locker — 1519 E Springhill Dr, Terre Haute, IN 47802
    • You-Store-It — 3655 S 14th 1/2 St, Terre Haute, IN 47802
    • Premier Storage — 1601 E Springhill Dr, Terre Haute, IN 47802
    • Premier Storage LLC — 1601 E Springhill Dr, Terre Haute, IN 47802, United States

    Location Insight

    • Map
    • Local Demand
    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.394535
    Latitude
    39.412851

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    FAQs

    What type of property is this?
    Warehouse - Well-maintained commercial warehouse building suitable for various business uses.
    Where is this warehouse located?
    The property is located at 1430 E Springhill Drive Terre Haute, IN.
    What is the lease rate?
    The lease rate is $3,000 /Mo.
    What are key features of this property?
    This property features: Highly visible corner location with good street exposure and easy access to highways and local roads.; Multiple overhead doors provide convenient loading access for delivery trucks and operations.; Durable metal exterior panels and metal trim offer low maintenance and long‑term durability.
    (812) 249-9229
    We can help!
    Listing Contact
    LARRY BOHNERT
    Real Estate License ID: RB14018106
    Learn More
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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.

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