Automotive Property with New
For Sale
$4,000,000
4120 S Us Hwy 41, Terre Haute, IN 47802
COMMERCIAL/INDUSTRIAL, Terre Haute, IN
Property Size21,400 SF
Lot Size4.00 Acres
Price / SF$186.92
Days on Market349
Property Features for 4120 S Us Hwy 41
General Information
Property type
Residential
Property subtype
Retail
Zoning
C
Subdivision
Vigo County
Standard status
Active
APN
84-09-09-202-001.000-004
Lot size
4.00 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Amenities
New roof 2023
Building Details
Floors in Building
1
Listing Agency:
REMAX R.E.A. · RE/MAX International
(812) 235-4433
Listed By:
Dave Cash · License #RB14017104
(812) 243-0930
Added: Sep 15, 2025
Changed: Aug 19
Last Checked: Aug 29 at 4:06PM
MLS# 107463
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.
Investment Insights
Based on property information with market context.
The property comprises a former auto dealership with a 19,000-square-foot primary building and an additional 2,400-square-foot structure on approximately 4 acres. Improvements include a roof installed in 2023, natural gas heating, and central air conditioning. The C zoning designation supports its commercial setting, while the existing buildings provide a substantial base for continued automotive use or redevelopment.
Positioned along US 41 south in Terre Haute, the site records 37,237 VPD and is surrounded by major retail shopping and multiple restaurants. The owner will consider subdividing the property, providing flexibility for a range of commercial or development plans.
Positioned along US 41 south in Terre Haute, the site records 37,237 VPD and is surrounded by major retail shopping and multiple restaurants. The owner will consider subdividing the property, providing flexibility for a range of commercial or development plans.
Key Highlights
- 19,000‑square‑foot building plus an additional 2,400‑square‑foot structure
- Approximately 4 acres along US 41 south
- 37,237 VPD traffic count
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
$316,131
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
7.90%
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%
$6,322,620
$6.3M
Cap Rate 7%
$4,516,157
$4.5M
Cap Rate 9%
$3,512,567
$3.5M
Market Conditions
NOI Build-Up for 21,400 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
$469.9K $21.96/SF
− Vacancy
−$18.3K −$0.86/SF
EGI
$451.6K $21.10/SF
− OpEx
−$135.5K −$6.33/SF
NOI
$316.1K $14.77/SF
Area
Vigo County, IN
Vacancy
3.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
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%
$6,322,620
Cap Rate 7%
$4,516,157
Cap Rate 9%
$3,512,567
Alternative Uses
Best Use
Industrial
$12.72M
$11.13M – $14.84M
NOI $890,524 @ 7.0% cap · market cap 22.26%
Second Best
Retail
$4.52M
$3.95M – $5.27M
NOI $316,131 @ 7.0% cap · market cap 7.90%
Theoretical Best
Warehouse
$15.45M
$13.52M – $18.02M
NOI $1,081,350 @ 7.0% cap · market cap 27.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
37,237 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
722k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Shops & Services 22%
Apparel 22%
Superstores 13%
Sam's Club
Superstores
95,273 visits/mo
0.2 miles
Chick-fil-A
Dining
64,184 visits/mo
0.3 miles
T.J. Maxx
Apparel
63,243 visits/mo
0.4 miles
Academy Sports + Outdoors
Apparel
54,837 visits/mo
0.4 miles
PetSmart
Shops & Services
49,247 visits/mo
0.3 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
Market
Vacancy Rate% for Retail 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?
Automotive property - Former dealership improvements with commercial zoning, climate-controlled buildings, and potential for subdivision.
Where is this automotive property located?
The property is located at 4120 S Us Hwy 41 Terre Haute, IN.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 19,000‑square‑foot building plus an additional 2,400‑square‑foot structure; Approximately 4 acres along US 41 south; 37,237 VPD traffic count
