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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    129 3rd St Terre Haute, IN 47807-3406

    • Turn key restaurants
    • 0.51 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1363955
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Rally's / American Restaurant / Fast Food Restaurant

    Property Details for 129 3rd St

    Year built
    1988
    Lot size
    0.51 lot acres
    Property type
    Turn key restaurants
    APN
    84-06-21-456-011.000-002
    APU
    840621456011000002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.4143
    Latitude
    39.4646
    CBSA code
    45460
    CBSA name
    TERRE HAUTE, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,783
    $38,100
    $49,900
    $88,000
    -
    $38,100
    $49,900
    $88,000

    Comparable in this City

    • Value Estimation
      $255,000
      0.19 Acres

      1331 13th St

      RESTAURANT • 0.19 Acres
      1331 13th St, Terre Haute, IN 47807-1651
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    • Value Estimation by Request
      5,300 SF

      400 Dreiser Sq

      RESTAURANT • 5,300 SF
      400 Dreiser Sq, Terre Haute, IN 47807
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    • Value Estimation
      $230,000
      4,152 SF

      920 3rd St

      RESTAURANT • 4,152 SF
      920 3rd St, Terre Haute, IN 47807-4644
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    • Value Estimation
      $260,000
      0.33 Acres

      1330 Wabash Ave

      RESTAURANT • 0.33 Acres
      1330 Wabash Ave, Terre Haute, IN 47807-3314
      View Details
    • Value Estimation
      $265,000
      5,735 SF

      1367 Wabash Ave

      RESTAURANT • 5,735 SF
      1367 Wabash Ave, Terre Haute, IN 47807-3338
      View Details
    • Value Estimation
      $315,000
      14,000 SF

      1111 Veteran Sq

      RESTAURANT • 14,000 SF
      1111 Veteran Sq, Terre Haute, IN 47807-2760
      View Details

    Similar Nearby for Sale

    • $600,000
      0.28 Acres

      Established Restaurant and Bar Opportunity

      Well-established restaurant/bar with banquet hall near Indiana State University.
      932 Locust St, Terre Haute, IN 47807
      View Details
    • $440,000
      0.40 Acres

      Turnkey Restaurant and Bar Opportunity

      Fully equipped restaurant/bar with apartments in prime location.
      1367 Wabash Ave, Terre Haute, IN 47807
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    • $85,000
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      Terre Haute Retail Opportunity

      Retail property with development potential near ISU campus.
      710 N 13Th St, Terre Haute, IN 47807
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    • $135,000

      Retail/Service Property in Terre Haute

      Former car lot and service shop in high-traffic retail area.
      1033 N 3Rd St, Terre Haute, IN 47807
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    • $729,000
      0.63 Acres

      Versatile Mixed-Use Building Near ISU

      Mixed-use building near Indiana State University with redevelopment potential.
      124 N 2Nd St, Terre Haute, IN 47807
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    • $5,460,000
      182.00 Acres

      Prime 182-Acre Commercial Land

      High-traffic Terre Haute location, ideal for commercial development.
      0 Us Highway 41, Terre Haute, IN 47807
      View Details

    Similar Nearby for Lease

    • $5,700 /Mo

      Restaurant/Bar Space in Terre Haute

      Newly built-out 5,200 SF restaurant/bar space for lease.
      555 S 3Rd St, Terre Haute, IN 47807
      View Details
    • Contact for pricing
      6,937 SF

      Retail Space Near Indiana State

      Retail units suitable for various businesses near Indiana State University.
      2550-2720 Wabash Ave, Terre Haute, IN 47807
      View Details
    • Contact for pricing
      4,600 SF

      Retail End Cap with Patio

      Mixed-use retail and student housing complex near ISU campus.
      500 Wabash Ave, Terre Haute, IN 47807
      View Details
    • Contact for pricing
      1,791 SF

      Retail Space Near Indiana State

      Retail property near Indiana State University and Rose-Hulman Institute.
      2512-2520 Wabash Ave, Terre Haute, IN 47807
      View Details
    • $16 SF/Yr
      6,706 SF

      Downtown Terre Haute Office Suite

      Prime Office Space, 2,514 sq ft
      403 Wabash Ave, Terre Haute, IN 47807
      View Details
    • $16 SF/Yr

      Downtown Terre Haute Office Space

      Professional office space in downtown Terre Haute available for lease.
      401 Ohio St, Terre Haute, IN 47807
      View Details
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    Terre Haute, IN 47807-3406
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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.

    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
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