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    Property profile & analytics

    3492 Us Highway 41 Terre Haute, IN 47802

    • Commercial real estate
    • 7,800 SF
    • 0.90 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-3566843
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3492 Us Highway 41

    Year built
    2024
    Lot size
    0.90 lot acres
    Property size
    7,800 SF
    Property type
    Commercial real estate

    Description

    This exceptional Class A, single-story retail property totaling 7,800 square feet is situated on a 0.9-acre lot in Vigo County, offering a prime location for businesses seeking high visibility and accessibility. Built in 2024, the building boasts 40+ parking spaces and is conveniently located near the intersection of S. US 41 and I-70, less than 0.3 miles from the I-70 interchange. The property is currently fully vacant, offering a unique opportunity for a single tenant to occupy the entire space or for multiple tenants to lease individual suites. Minimum divisible space is 1,500 square feet, with a maximum contiguous space of 7,800 square feet. This multi-tenant outlot enjoys a strategic location within Riverside Plaza, a thriving retail center shadow-anchored by major national retailers including Burlington, Ross Dress for Less, TJ Maxx, and Best Buy, ensuring high foot traffic and brand recognition. The property's modern design and convenient amenities make it an ideal location for a variety of retail, restaurant, or service businesses. This is a rare opportunity to secure a highly desirable retail space in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.415542
    Latitude
    39.4252197

    Comparable in this City

    • Contact for pricing
      26,320 SF

      Retail Space Near US Hwy

      Retail space available along US Hwy 41 retail corridor.
      4651 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • $1,734 /Mo

      Retail/Service Space For Rent

      High-traffic location ideal for retail, restaurant, or office.
      688 E Springhill Dr, Terre Haute, IN 47802
      View Details
    • $2,700 /Mo
      22,651 SF

      Retail Space in High Traffic Area

      Retail space available in high-traffic Terre Haute location.
      501 Honey Creek Dr, Terre Haute, IN 47802
      View Details
    • Contact for pricing

      Retail Space Near Walmart

      Retail spaces available near high-performing Walmart and Aldi.
      5791 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • Contact for pricing
      2,700 SF

      Retail Spaces Near Indiana State

      Newly constructed retail spaces available for lease near I-70.
      2101 S 3Rd St, Terre Haute, IN 47802
      View Details
    • $3,814 /Mo
      29,621 SF

      Retail Space in High-Traffic Area

      Retail space in Terre Haute's highest traffic area.
      3357 S Us Highway 41, Terre Haute, IN 47802
      View Details

    Similar Nearby for Sale

    • $1,400,000
      0.93 Acres

      Retail/Service in Terre Haute, IN

      Retail/service property in high-traffic Terre Haute location for sale.
      4400-4408 S 7Th St, Terre Haute, IN 47802
      View Details
    • $130,000
      0.39 Acres

      Commercial Property on Springhill Drive

      Highly visible commercial property in a strong traffic corridor.
      752 Springhill Dr, Terre Haute, IN 47802
      View Details
    • $7,350,000
      18,788 SF

      Prime Terre Haute Auto Dealership

      18,788 SF, 7 Acres, High Traffic
      4120 Us Highway 41, Terre Haute, IN 47802
      View Details
    • $4,000,000
      4.00 Acres

      Retail/Service Property in Terre Haute

      Former auto dealership on 4 acres with high traffic.
      4120 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • $1,100,000
      1.00 Acre

      Retail/Service Property on US 41

      Former auto dealership on US 41 with high traffic.
      4120 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • $5,250,000
      5.00 Acres

      Retail/Service Property on US 41

      19,000 SF building on 5 acres, high traffic location.
      4120 S Us Highway 41, Terre Haute, IN 47802
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,320 SF

      Retail Space Near US Hwy

      Retail space available along US Hwy 41 retail corridor.
      4651 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • $1,734 /Mo

      Retail/Service Space For Rent

      High-traffic location ideal for retail, restaurant, or office.
      688 E Springhill Dr, Terre Haute, IN 47802
      View Details
    • $2,700 /Mo
      22,651 SF

      Retail Space in High Traffic Area

      Retail space available in high-traffic Terre Haute location.
      501 Honey Creek Dr, Terre Haute, IN 47802
      View Details
    • Contact for pricing
      125,548 SF

      Riverside Plaza Retail Spaces

      High-traffic retail center; spaces available.
      3500 Us Highway 41, Terre Haute, IN 47802
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Walmart

      Retail spaces available near major retailers and Indiana State University.
      5679-5793 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • New
      $1,500 /Mo

      Retail/Office Space in Terre Haute

      2,430 sq ft retail or office space in active district.
      3175 S 3Rd Pl, Terre Haute, IN 47802
      View Details
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    3492 Us Highway 41
    Terre Haute, IN 47802
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    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
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