Flex Space
For Sale
$165,000
2056 N 4th Street, Terre Haute, IN 47804
Flex space completed in 2020 with C5 zoning and an aggregate exterior.
Property Size2,000 SF
Days on Market122
Property Features for 2056 N 4th Street
General Information
Standard status
Active
Size
2,000 SF
Zoning
C5
Amenities
Aggregate
Building Details
Building Size
2,000 SF
Year Built
2020
Listing Agency:
(765) 720-5111
Listed By:
Christopher Skillern
(765) 720-5111
Source:
Evrealestate
Added: Apr 10
Changed: Aug 8
Last Checked: Aug 8 at 5:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Christopher Skillern
Investment Insights
Based on property information with market context.
This flex space building was completed in 2020 and features an aggregate exterior. The property carries C5 zoning, supporting its commercial classification. Located at 2056 N 4th Street in Terre Haute, Indiana, the site is readily navigable using GPS.
Key Highlights
- 2020 construction
- C5 zoning
- Aggregate exterior
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,900
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$278,000
$278.0K
Cap Rate 7%
$198,571
$198.6K
Cap Rate 9%
$154,444
$154.4K
Market Conditions
NOI Build-Up for 2,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.0K $12.00/SF
− Vacancy
−$2.6K −$1.31/SF
EGI
$21.4K $10.69/SF
− OpEx
−$7.5K −$3.74/SF
NOI
$13.9K $6.95/SF
Area
Vigo County, IN
Vacancy
10.90%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$278,000
Cap Rate 7%
$198,571
Cap Rate 9%
$154,444
Alternative Uses
Best Use
Warehouse
$1.44M
$1.26M – $1.68M
NOI $101,061 @ 7.0% cap · market cap 61.25%
Second Best
Industrial
$1.19M
$1.04M – $1.39M
NOI $83,227 @ 7.0% cap · market cap 50.44%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 47804, IN
10,093
Population
5,118
Households
2
Avg Household Size
40
Median Age
17%
College-Educated
87%
High-School Grad
6.6 sq mi
ZIP Area
1,529
Density / Sq Mi
$38,036
Median Household Income
$31,842
Median Earnings
$904
Median Rent
$87,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex space completed in 2020 with C5 zoning and an aggregate exterior.
Where is this flex space located?
The property is located at 2056 N 4th Street Terre Haute, IN.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: 2020 construction; C5 zoning; Aggregate exterior
