Single-Story Brick Office
New
For Sale
$849,000
E, Terre Haute, IN 47802
COMMERCIAL/INDUSTRIAL, Terre Haute, IN
Property Size7,664 SF
Lot Size0.80 Acres
Price / SF$110.78
Days on Market3
Property Features for E
General Information
Property type
Residential
Property subtype
Office
Zoning
C2
Interior features
Carpeting, Restroom(s), Inside Storage
Subdivision
Vigo County
Standard status
Active
Lot size
0.80 Acres
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Floors in Building
1
Additional Structures
Storage
Listing Agency:
PREFERRED REALTY
(812) 249-3920
Listed By:
Becky Klingele · License #RB14028499
(812) 249-3920
Added: Aug 20
Last Checked: Aug 22 at 10:06PM
MLS# 110244
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.
Investment Insights
Based on property information with market context.
This single-story brick office building contains 7,664 square feet of professional office space on a 0.8-acre parcel. Constructed in 1986, the property is configured for four tenants and is currently occupied by two local businesses and two regional companies. Interior features include carpeting, restrooms, and inside storage, with forced-air heating and central air conditioning serving the building.
Existing leases include renewal options and scheduled rent increases. The property is zoned C2 and includes ample parking. Its commercial-corridor setting in Terre Haute, Indiana, provides convenient access and visibility for office users and service-oriented businesses.
Existing leases include renewal options and scheduled rent increases. The property is zoned C2 and includes ample parking. Its commercial-corridor setting in Terre Haute, Indiana, provides convenient access and visibility for office users and service-oriented businesses.
Key Highlights
- 7,664‑square‑foot single‑story brick office building
- 0.8‑acre parcel with C2 zoning
- Four‑tenant configuration occupied by two local and two regional businesses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,474
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,549,480
$1.5M
Cap Rate 7%
$1,106,771
$1.1M
Cap Rate 9%
$860,822
$860.8K
Market Conditions
NOI Build-Up for 7,664 SF
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.
Gross rent
$132.4K $17.28/SF
− Vacancy
−$29.1K −$3.80/SF
EGI
$103.3K $13.48/SF
− OpEx
−$25.8K −$3.37/SF
NOI
$77.5K $10.11/SF
Area
Vigo County, IN
Vacancy
22.00%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,549,480
Cap Rate 7%
$1,106,771
Cap Rate 9%
$860,822
Alternative Uses
Best Use
Office B
$1.11M
$968.4K – $1.29M
NOI $77,474 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.53M
$4.84M – $6.45M
NOI $387,265 @ 7.0% cap · market cap 45.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
206
Businesses Nearby
Explore this area
Business Placement
Demographics for 47802, IN
34,229
Population
14,682
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
158.8 sq mi
ZIP Area
216
Density / Sq Mi
$58,880
Median Household Income
$36,457
Median Earnings
$865
Median Rent
$165,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Four-tenant professional office property with a flexible layout, central air conditioning, and on-site parking.
Where is this office building located?
The property is located at E Terre Haute, IN.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 7,664‑square‑foot single‑story brick office building; 0.8‑acre parcel with C2 zoning; Four‑tenant configuration occupied by two local and two regional businesses
