380 Honey Creek DrTerre Haute, IN 47802

Property Details for 380 Honey Creek Dr

Year built

1999

Construction

WOOD

Lot size

2.20 AC

Property size (Sq ft)

13,310 SF

Property type

Retail properties

Property subtype

Strip malls

APN

84-09-04-151-012.000-005

APU

840904151012000005

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,990,531

  6.5%

  $2,760,490

  7%

  $2,563,312

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,887,226

  Geo Method

  $2,887,226

• Alternative Use

  Use

  Valuation

  Residential

  $2,328,577

  Hospitality

  $2,132,964

  Educational

  $1,774,601

  Medical

  $1,835,632

  Retail

  $2,760,490

Location Insight

City

Terre Haute

County

Vigo

State

Indiana

Latitude

39.4306

Longitude

-87.4241

CBSA code

45460

CBSA name

TERRE HAUTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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