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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Strip malls
380 Honey Crk Dr Terre Haute, IN 47802-3720
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-2783153
Property summary
AI-generated overview
This exceptional 13,460-square-foot single-tenant office building, located at 380 West Honey Creek Drive, Terre Haute, Indiana, presents a unique investment opportunity. Situated on a 1.6-acre lot, this Class B property boasts a convenient location with easy access via South 3rd Place. Built in 1997 and extensively renovated in 2019, the building features a single story with 83 total parking spaces. The property is currently vacant and offers significant potential for a variety of uses. The interior includes 15 exam rooms, a radiology suite, and a break room, reflecting its previous use as a VA clinic. The build-out is only three years old, ensuring modern and efficient spaces. The property benefits from three-phase 800-amp power. Taxes are $1.65 per square foot. The zoning is Retail, offering flexibility for potential tenants. The seller is open to considering offers for the sale of the asset. This property is located in Vigo County, Indiana, with a zip code of 47802.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Construction
WOOD
Total area
13,310 SF
Lot
2.2 ac (95,832 SF)
APN
84-09-04-151-012.000-005
UPID
US31-2783153
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Misael D. Refugio, PT Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$495k
Blend (final)
Blend
$510k
Owner & transaction history
Sterling Medical Corporation · 5 yrs held
Sterling Medical Corporation
since 2021
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$750,000
+68.0%
Industrial (general)
$615,000
+38.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Terre Haute submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Terre Haute submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$445,000
Current use
AUTO REPAIR, GARAGE
$750,000
Change: +68% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$615,000
Change: +38% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$38 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$33,113
Tax year 2023
Assessed value
$663,200
Assessed 2023
Previous assessed
$663,200
+0.0% YoY
Effective rate
4.99%
On assessed value
Assessed land
$142,800
Assessed improvement
$520,400
Land market value
$142,800
Improvement market value
$520,400
Total market value
$663,200
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1999
Construction
WOOD
Heating
NONE
Stories
1
Units
6
Total area
13,310 SF
Lot
2.2 ac (95,832 SF)
APN
84-09-04-151-012.000-005
UPID
US31-2783153
Jurisdiction
VIGO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$445,000
AUTO REPAIR, GARAGE
Est. value
$750,000
INDUSTRIAL (GENERAL)
Est. value
$615,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
WOOD
Heating
NONE
Stories
1
Units
6
Lot
2.2 ac
Current owner
From public records · entity-resolved
Sterling Medical Corporation
Entity
Free & Clear · 5 yrs held
Mailing address
411 OAK ST, CINCINNATI, OH 45219-2504
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2021
—
Sterling Medical Corporation
Keller Properties INC
Warranty Deed
—
Jun 8, 2016
—
Keller Properties INC
Crk Investments LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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