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

    500 Wabash Ave Terre Haute, IN 47807

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Mixed-use retail and student housing complex near ISU campus.

    Property size:
    4,600 SF
    Lot size:
    0.24 Acres

    Property Features for 500 Wabash Ave

    General Information

    Size
    4,600 SF
    Lot size
    0.24 Acres

    We can help!

    Listing Contact
    Joe Monaghan
    Joe Monaghan
    Source: Moodyscre

    Listing Agent: Joe Monaghan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail End Cap with Patio

    This 4,600 square feet end cap with a patio is available for lease. Located at 500 Wabash Avenue, the property is part of a five-story mixed-use complex featuring retail space and student housing. The building is situated less than two blocks from the central part of Indiana State University's campus. The complex houses approximately 260 students and offers around 22,000 square feet of ground-level retail, office, and flex space. Terre Haute is a college town with Indiana State University, Rose-Hulman Institute of Technology, and Saint Mary of the Woods College. A $1.5 billion industrial park investment by Entek is planned, which is expected to bring 640 jobs to Terre Haute between now and 2027. Other major regional employers include Union Hospital Healthcare, Regional Hospital Healthcare, Medical Group Healthcare, Vigo County School Corporation, First Financial Bank, and the Vigo County Government.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    USI Insurance Services ... Insurance Agency

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.410616
    Latitude
    39.466816

    Nearby Similar for Lease

    • $6,000 /Mo
      55,757 SF

      Spacious Office Building For Lease

      Versatile office space with ample parking and recent upgrades.
      3900 S 7Th St, Terre Haute, IN 47802
      View Details
    • $9,200 /Mo
      145,055 SF

      Terre Haute Industrial/Warehouse Space

      Industrial/warehouse space with office, docks, and ample parking.
      5150 E Margaret Dr, Terre Haute, IN 47803
      View Details
    • $2,625 /Mo

      Downtown Terre Haute Office Space

      Office space in the heart of Terre Haute's business district.
      400 Poplar St, Terre Haute, IN 47807
      View Details
    • $1,500 /Mo
      53,579 SF

      Terre Haute Office Space Available

      Professional office space for lease in Terre Haute, Indiana.
      500 E Springhill Dr, Terre Haute, IN 47802
      View Details
    • New
      $16 SF/Yr
      40,511 SF

      Retail Space in Express Plaza

      Retail/service space available in high-traffic Terre Haute location.
      4400 S 7Th St, Terre Haute, IN 47802
      View Details
    • $2,200 /Mo
      49,223 SF

      Versatile Commercial Property on US 41

      Flexible commercial space with warehouse and high-speed internet access.
      10524 S Us 41 Hwy, Terre Haute, IN 47802
      View Details
    • $2,700 /Mo
      22,651 SF

      Retail Space in High Traffic Area

      Retail space available in high-traffic Terre Haute location.
      501 Honey Creek Dr, Terre Haute, IN 47802
      View Details
    • $5,700 /Mo

      Restaurant/Bar Space in Terre Haute

      Newly built-out 5,200 SF restaurant/bar space for lease.
      555 S 3Rd St, Terre Haute, IN 47807
      View Details
    • $1,734 /Mo

      Retail/Service Space For Rent

      High-traffic location ideal for retail, restaurant, or office.
      688 E Springhill Dr, Terre Haute, IN 47802
      View Details
    • $1,283 /Mo
      34,848 SF

      Terre Haute Office Space Available

      Office space for lease in Terre Haute near Springhill.
      1072 Windsor Rd, Terre Haute, IN 47802
      View Details
    • $1,620 /Mo

      Retail Space Near Honey Creek

      Retail space for lease in high-traffic Terre Haute area.
      501 W Honey Creek Dr, Terre Haute, IN 47802
      View Details
    • $1,100 /Mo
      15,682 SF

      Move-in Ready Office Space

      Office space with high-traffic road frontage available for lease.
      4445 South 10Th St S 10th, Terre Haute, IN 47802
      View Details

    FAQs

    What type of property is this?
    Retail space - Mixed-use retail and student housing complex near ISU campus.
    Where is this retail space located?
    The property is located at 500 Wabash Ave Terre Haute, IN.
    What are key features of this property?
    This property features: - 4,600 SF End Cap with Patio Available for Lease; - Located less than 2 blocks from Indiana State University (ISU) campus; - Part of a mixed-use complex with 260 student residents
    (317) 260-9298
    Request Owner's contact information
    500 Wabash Ave Terre Haute, IN 47807
    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.
    500 Wabash Ave
    Terre Haute, IN 47807
    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
    500 Wabash Ave Terre Haute, IN 47807
    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
    Joe Monaghan
    Joe Monaghan
    (317) 260-9298
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.