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

    2228 Wabash Ave Terre Haute, IN 47807

    • Retail space
    • 8,700 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Jun 22, 2020
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2074511
    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

    • Retail space

    Property Details for 2228 Wabash Ave

    Year built
    1931
    Construction
    WOOD
    Lot size
    0.16 lot acres
    Property size
    8,700 SF
    Property type
    Retail space
    APN
    84-06-23-165-019.000-002
    APU
    840623165019000002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $310,000
      Market price range: $311k - $1.05M

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

    Location Insight

    • Map
    • Local Demand
    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.3834
    Latitude
    39.4704
    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
    $3,077
    $12,700
    $84,600
    $97,300
    -
    $12,700
    $84,600
    $97,300

    Comparable in this City

    • Value Estimation
      $255,000
      1,104 SF

      2150 Tippecanoe St

      RETAIL STORES (PERSONAL SERVICES) • 1,104 SF
      2150 Tippecanoe St, Terre Haute, IN 47807-2449
      View Details
    • Value Estimation
      $330,000
      1,708 SF

      2138 Wabash Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,708 SF
      2138 Wabash Ave, Terre Haute, IN 47807-3304
      View Details
    • Value Estimation
      $255,000
      2,086 SF

      1629 Wabash Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,086 SF
      1629 Wabash Ave, Terre Haute, IN 47807-3320
      View Details
    • Value Estimation
      $330,000
      10,154 SF

      438 13th St

      RETAIL STORES (PERSONAL SERVICES) • 10,154 SF
      438 13th St, Terre Haute, IN 47807-2722
      View Details
    • Value Estimation
      $250,000
      4,000 SF

      1211 13th St

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      1211 13th St, Terre Haute, IN 47807-1616
      View Details
    • Value Estimation
      $245,000
      6,405 SF

      2355 3rd Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,405 SF
      2355 3rd Ave, Terre Haute, IN 47807-1309
      View Details

    Similar Nearby for Sale

    • New
      $195,000
      4,288 SF

      Downtown Terre Haute Commercial Building

      High-visibility corner location suitable for office, retail, or mixed-use.
      33 S 6Th St, Terre Haute, IN 47807
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    • $85,000
      0.35 Acres

      Terre Haute Retail Opportunity

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

    Similar Nearby for Lease

    • 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
      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
      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
    • $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
    • $186 SF/Yr
      2,100 SF

      Downtown Terre Haute Coworking Space

      2100 sq ft Office, Prime Location
      400 Poplar St, Terre Haute, IN 47807
      View Details
    • $2,625 /Mo

      Downtown Terre Haute Office Space

      Office space in the heart of Terre Haute's business district.
      400 Poplar St, Terre Haute, IN 47807
      View Details
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    Terre Haute, IN 47807
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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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