1600 Springhill DrTerre Haute, IN 47802

Property Details for 1600 Springhill Dr

Year built

2009

Construction

WOOD

Lot size

0.56 AC

Property size (Sq ft)

4,114 SF

Property type

Medical offices

Property subtype

Medical centers

APN

84-09-10-276-001.000-004

APU

840910276001000004

Description

This exceptional Terre Haute commercial property, located at 1600 E Springhill Drive, Vigo County, IN 47802, presents a unique investment opportunity. The 4,034 square foot office building sits on a spacious 24,393 square foot lot and is ideally suited for a variety of businesses. Recent upgrades significantly enhance its value and functionality. A newly installed HVAC system ensures efficient climate control, while a modern security system with new cameras prioritizes safety and security. The interior boasts a thoughtfully designed layout, including six exam rooms (one equipped for radiation), suggesting potential for a healthcare practice. Employee and visitor comfort is maximized with two breakrooms, multiple waiting rooms, and ample bathrooms. Additional features include a full bathroom and kitchen on the second floor, offering versatility and convenience. Parking is abundant with a two-car garage and 23 additional parking spaces. Reliable internet connectivity is provided by Joink Internet. Recent improvements also include brand new carpeting throughout and a recently resealed parking lot. This well-maintained property offers a combination of functionality, comfort, and security, making it an attractive investment opportunity in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $669,634

  6.5%

  $618,124

  7%

  $573,972

• Comparable approach

  Method

  Valuation

  Relative Method

  $354,133

  Geo Method

  $354,133

• Alternative Use

  Use

  Valuation

  Residential

  $766,474

  Hospitality

  $702,086

  Educational

  $584,127

  Medical

  $604,216

  Retail

  $908,642

Location Insight

City

Terre Haute

County

Vigo

State

Indiana

Latitude

39.4127

Longitude

-87.3927

CBSA code

45460

CBSA name

TERRE HAUTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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