Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Erie Canal Rd & Springhill Drive Terre Haute, IN 47802

    View on Map
    Claim this Listing
    New
    For Sale
    $1,900,000

    Commercial - Terre Haute, IN

    Lot size:
    7.50 Acres
    Added:
    May 1, 2026
    Days on Market:
    2
    Last Refresh:
    May 2 at 7:06 pm

    Property Features for Erie Canal Rd & Springhill Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    R
    Standard status
    Active
    APN
    84-09-11-100-003.000-004
    Lot size
    7.50 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    BETTINA BOLING

    Listing agent BETTINA BOLING License #RB14041368

    Listing office CENTURY 21 ELITE 523 WABASH, Terre Haute, IN

    Listing date May 1, 2026

    MLS# 109239 Listing URL

    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.

    Overview

    Prime Commercial Land Opportunity

    This 7.44-acre commercial property offers visibility and accessibility. It is strategically positioned with access to the 641 Bypass, making it suitable for development possibilities including retail, office, hospitality, or mixed-use projects. The acreage provides space for building, parking, and future expansion, making it a valuable investment in a high-growth corridor. Located in a desirable area with traffic flow and connectivity, the site ensures access for customers, clients, and employees. The surrounding area continues to see commercial growth, enhancing long-term value and potential returns. This property presents an opportunity to establish or expand your business presence in a thriving market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.4056
    Latitude
    39.3587

    Nearby Similar for Sale

    • $399,000

      Downtown Terre Haute Retail Space

      8000 SF retail space in downtown Terre Haute.
      940 Poplar Street, Terre Haute, IN 47807
      View Details
    • $335,000
      864 SF

      High-Visibility Retail Opportunity

      Versatile property with high traffic and income potential.
      1310 Poplar Street, Terre Haute, IN 47807
      View Details
    • $650,000

      Versatile Commercial/Mixed-Use Opportunity

      Adaptable commercial property suitable for various business needs.
      6700 S Carlisle Street, Terre Haute, IN 47802
      View Details
    • $1,400,000

      Prime Commercial Location, Terre Haute

      High-growth area with endless opportunities. Car wash or redevelopment.
      2125 S State Road 46, Terre Haute, IN 47802
      View Details
    • $99,900

      Adaptable Terre Haute Mixed-Use Property

      6,706 sq ft property suitable for worship, office, community use.
      801 S 25th Street, Terre Haute, IN 47803
      View Details
    • $729,000

      Versatile Mixed-Use Building Near ISU

      Mixed-use building near Indiana State University with redevelopment potential.
      124 N 2nd Street, Terre Haute, IN 47807
      View Details
    • $85,000

      Terre Haute Retail Opportunity

      Retail property with development potential near ISU campus.
      710 N 13th Street, Terre Haute, IN 47807
      View Details
    • $115,000

      Versatile Commercial Building on Corner Lot

      Adaptable commercial building suitable for retail or office use.
      1452 S 25th Street, Terre Haute, IN 47803
      View Details
    • $115,000
      2,170 SF

      Versatile Commercial Building on Corner Lot

      Adaptable commercial building ideal for investors or owner-occupants.
      1452 S 25th Street, Terre Haute, IN 47803
      View Details
    • $49,900

      Restaurant/Bar Opportunity in Terre Haute

      Commercial space suitable for restaurant, retail, gym, or storage.
      2401 Durkees Ferry Road, Terre Haute, IN 47885
      View Details
    • $329,900

      Restaurant/Bar with 3-Way Liquor License

      Bar and restaurant near Union Hospital and ISU campus.
      1145 Lafayette Avenue, Terre Haute, IN 47804
      View Details
    • $149,000

      Terre Haute Restaurant/Bar Opportunity

      Prime commercial location near downtown, universities, and convention center.
      830 Oak Street, Terre Haute, IN 47807
      View Details

    FAQs

    What type of property is this?
    Commercial land - 7.44 acres with high visibility and accessibility for development.
    Where is this commercial land located?
    The property is located at Erie Canal Rd & Springhill Drive Terre Haute, IN.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: Prime 7.44‑acre commercial property.; Exceptional visibility and accessibility.; Easy access to the 641 Bypass.
    (812) 236-4663
    We can help!
    Listing Contact
    BETTINA BOLING
    Real Estate License ID: RB14041368
    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

    Thank You for Inquiry

    Erie Canal Rd & Springhill Drive, Terre Haute, IN 47802

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!