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    688 E Springhill Dr Terre Haute, IN 47802

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    688 E Springhill Dr Terre Haute, IN 47802

    View on Map
    • Strip malls
    • 6,665 SF
    • 2.84 lot acres
    For Lease
    $1,734/Mo
    View Listing →
    Retail/Service Space For Rent For Lease
    $1,734/Mo

    Retail/Service Space For Rent

    High-traffic location ideal for retail, restaurant, or office.

    688 E Springhill Drive, Terre Haute, IN 47802
    View Listing
    Property ID
    US31-2212895
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Anderson's Medical Products / Medical Supply Store

    Property Details for 688 E Springhill Dr

    Year built
    1986
    Construction
    WOOD
    Lot size
    2.84 lot acres
    Property size
    6,665 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    84-09-09-278-013.000-004
    APU
    840909278013000004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Terre Haute
    County
    Vigo
    State
    Indiana
    Longitude
    -87.4076
    Latitude
    39.4129
    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
    $18,736
    $234,000
    $460,800
    $694,800
    -
    $234,000
    $460,800
    $694,800

    Comparable in this City

    • Value Estimation
      $1,600,000
      88,318 SF

      3360 Us Hwy 41

      SHOPPING CENTER, STRIP CENTER • 88,318 SF
      3360 Us Hwy 41, Terre Haute, IN 47802-3728
      View Details
    • Value Estimation by Request
      13,749 SF

      2501 3rd St

      SHOPPING CENTER, STRIP CENTER • 13,749 SF
      2501 3rd St, Terre Haute, IN 47802-3544
      View Details
    • Value Estimation by Request
      11,818 SF

      1216 3rd St

      SHOPPING CENTER, STRIP CENTER • 11,818 SF
      1216 3rd St, Terre Haute, IN 47802-1006
      View Details
    • Value Estimation by Request
      8,640 SF

      2828 3rd St

      SHOPPING CENTER, STRIP CENTER • 8,640 SF
      2828 3rd St, Terre Haute, IN 47802-3756
      View Details
    • Value Estimation by Request
      4,000 SF

      3241 3rd Pl

      SHOPPING CENTER, STRIP CENTER • 4,000 SF
      3241 3rd Pl, Terre Haute, IN 47802-3765
      View Details
    • Value Estimation by Request
      8,638 SF

      4408 7th St

      SHOPPING CENTER, STRIP CENTER • 8,638 SF
      4408 7th St, Terre Haute, IN 47802-4304
      View Details

    Similar Nearby for Sale

    • $9,800,000

      Riverside Plaza Shopping Center For Sale

      92% leased community shopping center in Terre Haute, Indiana.
      3442 S Us Highway 41, Terre Haute, IN 47802
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      Honey Creek Commons For Sale

      97% leased regional shopping center in Terre Haute, Indiana.
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      Towne South Plaza For Sale

      100% leased regional shopping center in Terre Haute, Indiana.
      3648 S Us Highway 41, Terre Haute, IN 47802
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    • New
      $1,199,900
      0.93 Acres

      Retail/Service in Terre Haute, IN

      Retail/service property in high-traffic Terre Haute location.
      4400-4408 S 7Th St, Terre Haute, IN 47802
      View Details
    • $2,560,000

      Retail Outlot Building For Sale

      7,871 SF retail building 100% leased to strong tenants.
      5399 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • $579,900
      3,600 SF

      Terre Haute Investment Opportunity

      Three-building commercial package with retail, rental, and residential potential.
      3403 S 7Th St, Terre Haute, IN 47802
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    Similar Nearby for Lease

    • 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

      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
    • Contact for pricing

      Retail Space in Terre Haute

      Located in the Terre Haute regional trade area.
      3500 S Us Highway 41, Terre Haute, IN 47802
      View Details
    • Contact for pricing

      New Retail Center with Drive-Thru

      Newly constructed retail spaces with drive-thru, near Indiana State University.
      2101 S 3Rd St, Terre Haute, IN 47802
      View Details
    • $3,814 /Mo
      29,621 SF

      Retail Space in High-Traffic Area

      Retail space in Terre Haute's highest traffic area.
      3353 S Us Highway 41, Terre Haute, IN 47802
      View Details
    View Listing
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    Terre Haute, IN 47802
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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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