727 Ohio StTerre Haute, IN 47807

Property Details for 727 Ohio St

Year built

1927

Construction

WOOD

Lot size

0.30 AC

Property size (Sq ft)

28,064 SF

Property type

Office properties

Property subtype

Other office properties

APN

84-06-22-355-005.000-002

APU

840622355005000002

Description

This exceptional 28,064-square-foot special purpose property, located at 727 Ohio St, Terre Haute, IN 47807, presents a unique investment opportunity. The Hippodrome Theatre, a beautifully preserved 1,400-seat venue built in 1927, is listed on the National Register of Historic Places, though currently without any restrictive covenants. This two-story building sits on a 0.3-acre lot and boasts 13 parking spaces, a significant advantage given its proximity to the Convention Center (one block) and Hulman Center (two blocks). The property's vacant status allows for immediate occupancy and offers exciting possibilities for adaptive reuse, capitalizing on its prime location near Indiana State University. The asking price is $400,000, translating to $14.25 per square foot. The property features a single unit with 28,064 square feet of net rentable space, zoned for commercial use (499-Commercial). While lacking loading docks or dock-high doors, its central location and historical significance make it an attractive proposition for a variety of commercial ventures. The abundant parking options within two blocks further enhance its appeal. APN: 84-06-22-355-005.000-002.

• CAP approach

  CAP return

  Valuation

  6%

  $4,289,199

  6.5%

  $3,959,261

  7%

  $3,676,456

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,415,749

  Geo Method

  $2,415,749

• Alternative Use

  Use

  Valuation

  Residential

  $4,909,484

  Hospitality

  $4,497,060

  Educational

  $3,741,501

  Medical

  $3,870,177

  Retail

  $5,820,113

Location Insight

City

Terre Haute

County

Vigo

State

Indiana

Latitude

39.4651

Longitude

-87.406

CBSA code

45460

CBSA name

TERRE HAUTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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