Add Listing
    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

    2503 Fort Harrison Rd Terre Haute, IN 47804

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space in a thriving Terre Haute commercial district.

    Type:Retail
    Added:
    Aug 28, 2020
    Days on Market:
    2058
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 2503 Fort Harrison Rd

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 2503 Fort Harrison Rd Contact us

    We can help!

    Listing Contact
    Matthew Hill

    Listing agent Matthew Hill License #FLBO

    Listing office Legacy Commercial Properties

    Listing date Aug 28, 2020

    Source Crexi

    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 Legacy Commercial Properties

    Overview

    Retail Space in Terre Haute

    Located in Terre Haute, the area surrounding 2503 Fort Harrison Rd. is a bustling community, suitable for a retail or strip center tenant. The property is near a retail and commercial district with retailers, dining, and local businesses, creating a high-traffic environment. Nearby attractions include the Swope Art Museum and Terre Haute Children's Museum. The location offers an opportunity for retail businesses to establish a presence and cater to the Terre Haute market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.378148
    Latitude
    39.506387

    Nearby Similar for Lease

    • Contact for pricing

      Remodeled Retail/Office Space Available

      Remodeled retail or office space for lease on busy street.
      2610 S 7th Street, Terre Haute, IN 47802
      View Details
    • Contact for pricing

      Office Space with Included Utilities

      Office space for rent in Terre Haute, Indiana.
      400 E Wabash, Terre Haute, IN 47808
      View Details
    • Contact for pricing

      New Flex Space in Terre Haute

      Brand-new flex space with office and warehouse in Terre Haute.
      1460 Washington Avenue, Terre Haute, IN 47802
      View Details
    • Contact for pricing

      Modern Office Space in Historic Building

      Modern office space with amenities in historic Deming building.
      619 Cherry Street, Terre Haute, IN 47808
      View Details
    • Contact for pricing

      Downtown Terre Haute Office Space

      Remodeled office spaces in prime downtown location for lease.
      635 Ohio Street, Terre Haute, IN 47807
      View Details
    • Contact for pricing

      Commercial Warehouse Building For Lease

      Well-maintained commercial warehouse building suitable for various business uses.
      1430 E Springhill Drive, Terre Haute, IN 47802
      View Details
    • Contact for pricing

      Retail/Office Space in Terre Haute

      2,430 sq ft retail or office space in active district.
      3175 S 3rd Street Place, Terre Haute, IN 47802
      View Details
    • $18/mo

      Terre Haute Office Space Available

      Variety of office spaces for lease in Terre Haute.
      501 E Hospital Lane, Terre Haute, IN 47802
      View Details
    • $17/mo

      Premier Office Space in Terre Haute

      Highly visible office space in downtown Terre Haute for rent.
      401-403 Wabash Avenue, Terre Haute, IN 47807
      View Details
    • Contact for pricing

      Office Space in Terre Haute

      Office space available for rent in Terre Haute, Indiana.
      60 N Brown Avenue, Terre Haute, IN 47803
      View Details
    • Contact for pricing

      Spacious Office Building For Lease

      Versatile office space with ample parking and recent upgrades.
      3900 S 7th Street, Terre Haute, IN 47802
      View Details
    • Contact for pricing

      Office Space with Utilities Included

      Office space for rent including all utilities and janitorial services.
      400 E Wabash Ave, Terre Haute, IN 47801
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in a thriving Terre Haute commercial district.
    Where is this retail space located?
    The property is located at 2503 Fort Harrison Rd Terre Haute, IN.
    What are key features of this property?
    This property features: High‑traffic location due to proximity to vibrant retail and commercial district.; Ideal for retail or strip center tenant in a thriving city.; Strong consumer base and advantageous demographics.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matthew Hill
    Real Estate License ID: FLBO
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!