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    Hulman St Terre Haute, IN 47803

    Sponsored
    For Sale
    $2,500,000

    37 Acres near Terre Haute Airport

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional 36.83-acre parcel presents a compelling investment opportunity in Terre Haute, Indiana. Strategically located adjacent to the Terre Haute Regional Airport, this prime development site boasts unparalleled access to Indiana's 4th largest runway and the state's 3rd busiest airport (runway 5/23). Its proximity to the airport makes it ideally suited for aviation-related businesses, offering significant potential for growth and development. The property's versatility extends beyond aviation, with suitability for commercial or agricultural uses. The location further benefits from its proximity to the Highway 46 corridor, a thriving area featuring residential apartments, retail shops, and the recently constructed Terre Haute casino. This vibrant surrounding area contributes to the property's strong appeal and potential for future appreciation. The asking price for this significant land holding is $2,500,000. This is a rare chance to acquire a substantial tract of land in a rapidly developing area with excellent infrastructure and accessibility. The property is zoned for various uses, offering flexibility for a wide range of development projects. Don't miss this opportunity to capitalize on the growth potential of this prime Terre Haute location. The address is Hulman Street, Terre Haute, IN 47803, Vigo County.

    Property Features for 0 Hulman St

    General Information

    Property type
    Land
    Lot Size
    1,604,315 SF

    HighLights

    • 36.83‑acre parcel in Terre Haute, IN, asking $2,500,000.
    • Adjacent to Terre Haute Regional Airport (Indiana's 4th largest runway, 3rd busiest airport).
    • Suitable for aviation, commercial, or agricultural uses.
    • Located near Highway 46 corridor with residential, retail, and a new casino.
    • Zoned for various uses, offering development flexibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.3682034
    Latitude
    39.4484209

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    FAQs

    What type of property is this?
    Land - 37 Acres near Terre Haute Airport
    Where is this land located?
    The property is located at Hulman St Terre Haute, IN.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: 36.83-acre parcel in Terre Haute, IN, asking $2,500,000.; Adjacent to Terre Haute Regional Airport (Indiana's 4th largest runway, 3rd busiest airport).; Suitable for aviation, commercial, or agricultural uses.
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    Hulman St Terre Haute, IN 47803
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    Terre Haute, IN 47803
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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.

    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
    Hulman St Terre Haute, IN 47803
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