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

    525 W Honey Creek Dr Terre Haute, IN 47802

    Sponsored
    For Sale
    $1,600,000

    Office - Terre Haute, IN

    Type:Office
    Lot size:
    1.31 Acres
    Days on Market:
    257
    Last Refresh:
    Feb 7 at 11:06 am

    Property Features for 525 W Honey Creek Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    Zoning
    C-3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
    Bathrooms
    4
    APN
    84-09-05-226-013.000-005
    Interior features
    Restroom(s), Handicap Access, Handicap Restroom
    Accessibility
    Accessible Approach with Ramp
    Lot size
    1.31 Acres

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    CHIP MILLER
    CHIP MILLER

    Prudential Newlin-Johnson Realtors (812) 478-1957

    Listing agent CHIP MILLER (812) 478-1900 License #RB14011642

    Listing date May 27, 2025

    MLS# 106452 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

    Remodeled Office Building Investment Opportunity

    This 5,600 square foot commercial building presents an investment opportunity with a long-term tenant. The interior has been recently remodeled to include private offices designed to promote a professional work environment, as well as flexible cubicle areas suitable for collaboration. Multiple restrooms are available. The building is fully handicap accessible. The exterior features a brick facade. Ample parking is available at the front and rear of the building. The property is located off U.S. 41 with access to I-70, offering visibility and connectivity. The property is zoned C-3 and sits on a 1.31-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Allendale Estates Apartment Building

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.426581
    Latitude
    39.431817

    Nearby Similar for Sale

    • New
      $329,900

      Restaurant/Bar with 3-Way Liquor License

      Bar and restaurant near Union Hospital and ISU campus.
      1145 Lafayette Ave, Terre Haute, IN 47804
      View Details
    • $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

    FAQs

    What type of property is this?
    Office building - 5,600 SF commercial building with long-term tenant in place.
    Where is this office building located?
    The property is located at 525 W Honey Creek Dr Terre Haute, IN.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: - Reliable long-term tenant in place for immediate income.; - Highly accessible location off U.S. 41 with easy access to I-70.; - Recently remodeled interior with private offices and flexible cubicle areas.
    (812) 249-3114
    Request Owner's contact information
    525 W Honey Creek Dr Terre Haute, IN 47802
    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.
    525 W Honey Creek Dr
    Terre Haute, IN 47802
    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
    525 W Honey Creek Dr Terre Haute, IN 47802
    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
    CHIP MILLER
    CHIP MILLER
    Real Estate License ID: RB14011642
    (812) 249-3114
    Learn more
    Google sign-in failed. Please try again or use another login method.