Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    234 Idaho St Terre Haute, IN 47802-1930

    • Commercial real estate
    • 2,478 SF
    • 0.78 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1595356
    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

    • Commercial real estate

    Property Details for 234 Idaho St

    Year built
    1967
    Construction
    WOOD
    Lot size
    0.78 lot acres
    Property size
    2,478 SF
    Property type
    Commercial real estate
    APN
    84-06-33-202-003.000-002
    APU
    840633202003000002

    Description

    This exceptional 2,478-square-foot industrial property, situated on a 0.78-acre lot in Terre Haute, Indiana, presents a compelling redevelopment opportunity. Currently configured as a flex/warehouse space, the building offers significant potential for adaptive reuse. Priced at $200,000, or $80.71 per square foot, this property represents a strong value proposition for investors seeking a mixed-use project. The location at 234 Idaho St, zip code 47802, is highly advantageous, boasting convenient access to US 41. The property's proximity to established businesses, including a nearby law office and Big Red Liquors, adds to its appeal and potential for synergistic development. The existing structure provides a solid foundation for a variety of uses, making it ideal for entrepreneurs and developers looking to create modern office space or a flexible industrial environment. This Vigo County property offers a unique chance to capitalize on a prime location and create a thriving business hub. The 0.78-acre lot provides ample space for expansion or additional development, further enhancing the investment potential. Don't miss this chance to acquire a versatile property with significant upside in a growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.4148
    Latitude
    39.4477
    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
    $2,242
    $58,200
    $12,700
    $70,900
    -
    $58,200
    $12,700
    $70,900

    Comparable in this City

    • Value Estimation by Request
      182.00 Acres

      Us Highway 41

      Land • 182.00 Acres
      0 Us Highway 41, Youngstown, IN 47802
      View Details
    • Value Estimation by Request
      1.20 Acres

      1730 Springhill Dr

      Land • 1.20 Acres
      1730 Springhill Dr, Terre Haute, IN 47802
      View Details
    • Value Estimation by Request
      7.64 Acres

      400 Johnson Dr

      Land • 7.64 Acres
      400 Johnson Dr, Terre Haute, IN 47802
      View Details
    • Value Estimation by Request
      40.00 Acres

      14909 State Rd 159

      COMMERCIAL (GENERAL) • 40.00 Acres
      14909 State Rd 159, Terre Haute, IN 47802
      View Details
    • Value Estimation by Request
      0.45 Acres

      2800 State Rd 63

      COMMERCIAL (GENERAL) • 0.45 Acres
      2800 State Rd 63, Terre Haute, IN 47802-8798
      View Details
    • Value Estimation by Request
      0.16 Acres

      201 Voorhees St

      COMMERCIAL (GENERAL) • 0.16 Acres
      201 Voorhees St, Terre Haute, IN 47802
      View Details

    Similar Nearby for Sale

    • $150,000
      2.39 Acres

      Prime Terre Haute Commercial Land

      2.39 Acres, Golf Course Views
      5467 Dairy Ln, Terre Haute, IN 47802
      View Details
    • $5,460,000
      182.00 Acres

      182 Acres Hwy 41 S Land

      Prime Indiana Commercial Land, 182 Acres
      0 Us Hwy 41, Youngstown, IN 47802
      View Details
    • $285,000
      3.39 Acres

      Prime Terre Haute Commercial Land

      3.39 Acres, C-3 Zoning, Ideal Location
      500 Honey Creek Dr, Terre Haute, IN 47802
      View Details
    • $3,390,000
      113.39 Acres

      Prime Terre Haute Land Investment

      113 Acres, Agricultural & Commercial
      1 1St St, Terre Haute, IN 47802
      View Details
    • $295,000
      2.34 Acres

      Prime Terre Haute Commercial Land

      2.34 Acres, C-3 Zoning, $295,000
      500 Honey Creek Dr, Terre Haute, IN 47802
      View Details
    • $375,000
      1.70 Acres

      Prime Terre Haute Commercial Land

      1.7-Acre C-3 Zoned Lot, $375,000
      500 Honey Creek Dr, Terre Haute, IN 47802
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,320 SF

      Retail Space Near US Hwy

      Retail space available along US Hwy 41 retail corridor.
      4651 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • $1,734 /Mo

      Retail/Service Space For Rent

      High-traffic location ideal for retail, restaurant, or office.
      688 E Springhill Dr, Terre Haute, IN 47802
      View Details
    • $2,700 /Mo
      22,651 SF

      Retail Space in High Traffic Area

      Retail space available in high-traffic Terre Haute location.
      501 Honey Creek Dr, Terre Haute, IN 47802
      View Details
    • $1,900 /Mo
      49,223 SF

      Versatile Commercial Space on US 41

      Flexible commercial property with warehouse space for lease on US 41.
      10524 S Us 41 Hwy, Terre Haute, IN 47802
      View Details
    • Contact for pricing

      Retail Space Near Walmart

      Retail spaces available near high-performing Walmart and Aldi.
      5791 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • Contact for pricing
      2,700 SF

      Retail Spaces Near Indiana State

      Newly constructed retail spaces available for lease near I-70.
      2101 S 3Rd St, Terre Haute, IN 47802
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    234 Idaho St
    Terre Haute, IN 47802-1930
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.