Current Use by Public Records
- Warehouses
Property Details for 6541 In-42
- Year built
- 2001
- Lot size
- 2.56 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a single-tenant, 15,780-square-foot distribution warehouse in Terre Haute, Indiana. The property, built in 2001, sits on a 2.56-acre lot and is currently leased to Frito-Lay, a subsidiary of PepsiCo, under a net lease agreement. The lease, extended in 2023, runs until April 30, 2033, with no renewal options. The annual rent of $7.07 per square foot is considered below market, offering significant potential for future rent increases or lease replacement at a higher rate. The property boasts a strong 6.75% cap rate and a net operating income (NOI) of $109,200. Its strategic location near the Terre Haute Regional Airport provides excellent access to the Terre Haute and Wabash Valley MSA, serving a population of approximately 200,000. The property's financial stability is further enhanced by PepsiCo's investment-grade credit rating. An adjacent 3.15-acre parcel is also available for separate purchase. The asking price for this exceptional investment is $1,617,000. This is a rare opportunity to acquire a high-quality, income-producing asset with a long-term, creditworthy tenant in a desirable location. The property's address is 6541 IN-42, Terre Haute, IN 47803, and the APN is 84-07-29-200-015.000-009.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Terre Haute
- County
- Vigo
- State
- Indiana
- Longitude
- -87.3158
- Latitude
- 39.4612
