Remodeled Office Building with
525 W Honey Creek Drive Terre Haute, IN 47802
For Sale
$1,600,000
Recently remodeled office building with private offices, flexible cubicle areas, and ample front and rear parking.
Property Size5,600 SF
Price / SF$285.71
Days on Market761
Property Features for 525 W Honey Creek Drive
General Information
Standard status
Active
Size
5,600 SF
Property subtype
Office
Listing Agency:
Berkshire Hathaway HomeServices Newlin-Miller REALTORS
(812) 478-1900
Listed By:
CHIP MILLER · License #RB14011642
Source:
Xome
Added: Jun 28, 2024
Changed: Jul 23
Last Checked: Jul 28 at 3:04AM
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 Berkshire Hathaway HomeServices Newlin-Miller REALTORS
Investment Insights
Based on property information with market context.
This remodeled commercial office building offers a total of 5,600 square feet and is available for sale with a reliable long-term tenant in place. The interior is arranged with private offices designed to support focused work, along with flexible cubicle areas intended for team collaboration. Multiple well-appointed restrooms are included to serve both staff and visitors, and the building is fully handicap accessible.
The exterior features a classic brick facade and provides ample parking at both the front and rear of the building. The property is located just off U.S. 41, with easy access to I-70, supporting convenient connectivity for employees and service providers.
Overall, the building combines a durable, low-maintenance brick exterior with a practical office layout and accessible amenities, supported by existing tenant occupancy.
The exterior features a classic brick facade and provides ample parking at both the front and rear of the building. The property is located just off U.S. 41, with easy access to I-70, supporting convenient connectivity for employees and service providers.
Overall, the building combines a durable, low-maintenance brick exterior with a practical office layout and accessible amenities, supported by existing tenant occupancy.
Key Highlights
- 5,600 SF commercial building for sale with a long‑term tenant in place
- Recently remodeled interior with central air conditioning
- Office layout includes private offices plus flexible cubicle areas
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.8k | $17.28 |
| − Vacancy | −$21.3k | −$3.80 |
| EGI | $75.5k | $13.48 |
| − OpEx | −$18.9k | −$3.37 |
| NOI | $56.6k | $10.11 |
5,600 SF · lease $17.28/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$808.7K
$707.6K – $943.5K
NOI $56,609 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.04M
$3.54M – $4.72M
NOI $282,970 @ 7.0% cap · market cap 17.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Recently remodeled office building with private offices, flexible cubicle areas, and ample front and rear parking.
Where is this office building located?
The property is located at 525 W Honey Creek Drive 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: 5,600 SF commercial building for sale with a long‑term tenant in place; Recently remodeled interior with central air conditioning; Office layout includes private offices plus flexible cubicle areas
