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

    3304 Us Hwy 41 Terre Haute, IN 47802-3728

    • Hotels
    • 53,196 SF
    • 2.21 lot acres
    OFF-MARKET
    Last Sale
    Feb 27, 2020
    Value Estimations
    $1,035,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2943151
    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

    • SpringHill Suites Terre Haute / Hotel / Meeting Planning Service

    Property Details for 3304 Us Hwy 41

    Year built
    2007
    Construction
    WOOD
    Lot size
    2.21 lot acres
    Property size
    53,196 SF
    Property type
    Hotels
    Property subtype
    Motels
    APN
    84-09-04-252-028.000-005
    APU
    840904252028000005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $695,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,374,000
      Market price range: $751k - $1.37M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $1,020,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.4119
    Latitude
    39.4291
    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
    $145,082
    $354,100
    $4,161,500
    $4,515,600
    -
    $354,100
    $4,161,500
    $4,515,600

    Comparable in this City

    • Value Estimation
      $855,000
      46,164 SF

      451 Margaret Dr

      HOTEL/MOTEL • 46,164 SF
      451 Margaret Dr, Terre Haute, IN 47802-3755
      View Details
    • Value Estimation by Request
      13,738 SF

      7020 Clubhouse Ln

      HOTEL/MOTEL • 13,738 SF
      7020 Clubhouse Ln, Terre Haute, IN 47802-5422
      View Details
    • Value Estimation
      $590,000
      41,670 SF

      3089 1st St

      HOTEL/MOTEL • 41,670 SF
      3089 1st St, Terre Haute, IN 47802-3787
      View Details
    • Value Estimation by Request
      29,592 SF

      475 Margaret Dr

      HOTEL/MOTEL • 29,592 SF
      475 Margaret Dr, Terre Haute, IN 47802-3755
      View Details
    • Value Estimation
      $1,050,000
      43,236 SF

      3070 1st St

      HOTEL/MOTEL • 43,236 SF
      3070 1st St, Terre Haute, IN 47802-3786
      View Details
    • Value Estimation
      $890,000
      63,416 SF

      3325 Us Hwy 41

      HOTEL/MOTEL • 63,416 SF
      3325 Us Hwy 41, Terre Haute, IN 47802-3727
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      42,236 SF

      Renovated Hotel Near Indiana State

      85-room Sleep Inn hotel renovated in 2019 on 2 acres.
      3070 S Hwy U.S, Terre Haute, IN 47802
      View Details
    • $999,000
      30.38 Acres

      Prime Terre Haute Commercial Land

      30 Acres, Hwy 41, High Visibility
      5000 Us Highway 41, Terre Haute, IN 47802
      View Details
    • $299,000
      1.79 Acres

      Prime Terre Haute Commercial Land

      1.79 Acres, C-3 Zoning, $299,000
      500 Honey Creek Dr, Terre Haute, IN 47802
      View Details
    • $65,000
      1.20 Acres

      Prime Terre Haute Commercial Land

      1.2-acre commercial lot, excellent investment.
      1730 Springhill Dr, Terre Haute, IN 47802
      View Details
    • $649,000
      7.64 Acres

      Terre Haute Commercial Land Opportunity

      7.64 Acres, Ready for Development
      400 Johnson Dr, Terre Haute, IN 47802
      View Details
    • $64,900
      1.00 Acre

      Prime Terre Haute Commercial Land

      One-acre commercial lot, ideal investment.
      750 Johnson 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
    • $2,200 /Mo
      49,223 SF

      Versatile Commercial Property on US 41

      Flexible commercial space with warehouse and high-speed internet access.
      10524 S Us 41 Hwy, 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
    • 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
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    3304 Us Hwy 41
    Terre Haute, IN 47802-3728
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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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