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

    3181 3rd Pl Terre Haute, IN 47802-3785

    • Strip malls
    • 6,112 SF
    • 2.13 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2158625
    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

    • Miracle-Ear Hearing Aid Center / Hearing Aid Store / Hearing Aid Repair Service

    Property Details for 3181 3rd Pl

    Year built
    1979
    Construction
    WOOD
    Lot size
    2.13 lot acres
    Property size
    6,112 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    84-09-04-151-005.000-005
    APU
    840904151005000005

    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
    -87.423
    Latitude
    39.427
    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
    $15,779
    $137,500
    $353,600
    $491,100
    -
    $137,500
    $353,600
    $491,100

    Comparable in this City

    • Value Estimation
      $510,000
      13,310 SF

      380 Honey Crk Dr

      SHOPPING CENTER, STRIP CENTER • 13,310 SF
      380 Honey Crk Dr, Terre Haute, IN 47802-3720
      View Details
    • Value Estimation by Request
      15,431 SF

      848 Johnson Dr

      SHOPPING CENTER, STRIP CENTER • 15,431 SF
      848 Johnson Dr, Terre Haute, IN 47802-4189
      View Details
    • Value Estimation by Request
      17,500 SF

      500 Springhill Dr

      SHOPPING CENTER, STRIP CENTER • 17,500 SF
      500 Springhill Dr, Terre Haute, IN 47802-4439
      View Details
    • Value Estimation by Request
      13,566 SF

      4122 7th St

      SHOPPING CENTER, STRIP CENTER • 13,566 SF
      4122 7th St, Terre Haute, IN 47802-4123
      View Details
    • Value Estimation by Request
      6,128 SF

      2400 3rd St

      SHOPPING CENTER, STRIP CENTER • 6,128 SF
      2400 3rd St, Terre Haute, IN 47802-3514
      View Details
    • Value Estimation
      $945,000
      25,126 SF

      4800 Us Hwy 41

      SHOPPING CENTER, STRIP CENTER • 25,126 SF
      4800 Us Hwy 41, Terre Haute, IN 47802-4415
      View Details

    Similar Nearby for Sale

    • $1,400,000
      0.93 Acres

      Retail/Service in Terre Haute, IN

      Retail/service property in high-traffic Terre Haute location for sale.
      4400-4408 S 7Th St, Terre Haute, IN 47802
      View Details
    • $130,000
      0.39 Acres

      Commercial Property on Springhill Drive

      Highly visible commercial property in a strong traffic corridor.
      752 Springhill Dr, Terre Haute, IN 47802
      View Details
    • $850,000
      12,180 SF

      US Hwy 41 Retail Center

      High-Visibility Terre Haute Retail Space
      5015 Us Highway 41, Terre Haute, IN 47802
      View Details
    • $899,000
      0.74 Acres

      Terre Haute Retail/Service Property

      11,462 SF steel building on 0.74 acres for sale.
      2509 S 1St St, Terre Haute, IN 47802
      View Details
    • $650,000
      2.63 Acres

      Versatile Commercial/Mixed-Use Opportunity

      Commercial or mixed-use property in a convenient, accessible location.
      6700 S Carlisle St, Terre Haute, IN 47802
      View Details
    • $135,000
      0.70 Acres

      Land for Retail or Development

      Prime location suitable for retail or professional development in Terre Haute.
      7310 S State Road 46, Terre Haute, IN 47802
      View Details

    Similar Nearby for Lease

    • 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
    • $18 SF/Yr
      40,511 SF

      Retail Space in Express Plaza

      Retail/service space for lease in high-traffic Terre Haute location.
      4400 S 7Th St, Terre Haute, IN 47802
      View Details
    • $1,620 /Mo

      Retail Space Near Honey Creek

      Retail space for lease in high-traffic Terre Haute area.
      501 W Honey Creek Dr, Terre Haute, IN 47802
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Walmart

      Retail spaces available near major retailers and Indiana State University.
      5679-5793 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • Contact for pricing
      11,800 SF

      New Retail Center with Drive-Thru

      Newly constructed retail spaces with drive-thru, near Indiana State University.
      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.
    3181 3rd Pl
    Terre Haute, IN 47802-3785
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.