Restaurant Building with Two
For Sale
$638,000
2948 S 5th St, Terre Haute, IN 47802
Sale includes a restaurant building, two residential houses, and four parcels.
Property Size3,112 SF
Price / SF$205.01
Days on Market86
Property Features for 2948 S 5th St
General Information
Standard status
Active
Size
3,112 SF
Additional Details
Equipment Included
No
Listing Agency:
L.J. Michaels, Inc.
Listed By:
Cy Marlow · License #RB14017536
(812) 243-4211
Source:
Eveloteam
Added: Jul 21
Changed: Oct 3
Last Checked: Oct 13 at 12:52AM
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 L.J. Michaels, Inc.
Investment Insights
Based on property information with market context.
The offering at 2948 S 5th St includes a conventional restaurant building together with two houses. Restaurant equipment is excluded from the sale, allowing the transaction to focus on the real estate and associated improvements.
The property comprises four parcels at a Terre Haute, Indiana address. Parcel 84-06-33-465-020.000-002 is identified among the included parcels.
The property comprises four parcels at a Terre Haute, Indiana address. Parcel 84-06-33-465-020.000-002 is identified among the included parcels.
Key Highlights
- Restaurant building included in the sale
- Two houses included with the property
- Four parcels included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,163
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$803,260
$803.3K
Cap Rate 7%
$573,757
$573.8K
Cap Rate 9%
$446,256
$446.3K
Market Conditions
NOI Build-Up for 3,112 SF
Gross rent
$56.0K $18.00/SF
− Vacancy
−$2.5K −$0.79/SF
EGI
$53.6K $17.21/SF
− OpEx
−$13.4K −$4.30/SF
NOI
$40.2K $12.91/SF
Area
Vigo County, IN
Vacancy
4.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$803,260
Cap Rate 7%
$573,757
Cap Rate 9%
$446,256
Alternative Uses
Best Use
Specialty Retail
$573.8K
$502.0K – $669.4K
NOI $40,163 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.25M
$1.97M – $2.62M
NOI $157,251 @ 7.0% cap · market cap 24.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
754
Businesses Nearby
356k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Shops & Services 20%
Hotels & Casinos 6%
Apparel 4%
Texas Roadhouse
Dining
49,744 visits/mo
0.2 miles
Cracker Barrel Old Country Store
Dining
26,657 visits/mo
0.2 miles
Starbucks
Dining
21,783 visits/mo
0.2 miles
Thorntons
Shops & Services
20,239 visits/mo
0.5 miles
Steak 'n Shake
Dining
19,909 visits/mo
0.1 miles
Demographics for 47802, IN
34,229
Population
14,682
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
158.8 sq mi
ZIP Area
216
Density / Sq Mi
$58,880
Median Household Income
$36,457
Median Earnings
$865
Median Rent
$165,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Sale includes a restaurant building, two residential houses, and four parcels.
Where is this conventional restaurant located?
The property is located at 2948 S 5th St Terre Haute, IN.
What is the asking price?
The asking price for this property is $638,000.
What are key features of this property?
This property features: Restaurant building included in the sale; Two houses included with the property; Four parcels included
