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    201 E Centennial Ave Muncie, IN 47303

    View on Map
    Sponsored
    For Sale
    $250,000

    Retail, Professional,Service - Muncie, IN

    Type:Retail
    Lot size:
    0.28 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 10 at 5:06 pm

    Property Features for 201 E Centennial Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Zoning
    Small Detached retail less than 10,000sf
    Rooms
    Bathroom 1, Kitchen, Office
    Bathrooms
    1
    APN
    181103353028000003
    Parking
    15
    Parking features
    Off Street, Paved or Surfaced
    Interior features
    Drywall, Other, Alley, Display Room, Office Space, Reception Area, Refrigeration/Freezer
    Exterior features
    Alley, Display Room, Office Space, Reception Area, Refrigeration/Freezer
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Expense value
    162
    Expense
    Other

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1925
    Floors in Building
    1
    Flooring type
    Vinyl
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Tina Coons

    RE/MAX Real Estate Groups (765) 288-0400

    Listing agent Tina Coons (765) 288-0400 License #RB14020128

    Listing date Mar 10, 2026

    MLS# 202607681 Listing URL

    Copyright © 2026 Mid-Eastern Indiana Association of Realtor MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turnkey Salon Near Ball State

    This is a fully operational salon located just minutes from Ball State University in Delaware County. The stylish and well-organized salon offers a welcoming atmosphere and a highly functional workspace for beauty professionals. The salon features an attractive front reception and retail area, five hair styling stations, two private service rooms, one lash station, two shampoo wash basins, a dedicated color room, a spray tan area, a private office, a kitchen and bathroom, and a laundry area. Numerous professional systems are already in place to manage color mixing, appointment scheduling, client records, retail tracking, and service checkout. Additional highlights include an interior and exterior security alarm system, included inventory and salon equipment, ample parking on both sides of the building, a storage shed located behind the building, and an installed exterior sign. The sale includes both the business and the building, offering an opportunity to own your workspace and investment together. The current salon name will not transfer, allowing the new owner to create their own brand. The property is zoned for small detached retail use, less than 10,000 square feet, and sits on a 0.28-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.386069
    Latitude
    40.208589

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    FAQs

    What type of property is this?
    Retail space - Fully operational salon near Ball State University for sale.
    Where is this retail space located?
    The property is located at 201 E Centennial Ave Muncie, IN.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Turnkey salon business and building for sale, ready for immediate operation.; - Prime location near Ball State University in Delaware County.; - Includes all salon equipment and existing inventory.
    (765) 744-6493
    Request Owner's contact information
    201 E Centennial Ave Muncie, IN 47303
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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
    201 E Centennial Ave Muncie, IN 47303
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    We can help!
    Listing Contact
    Tina Coons
    Real Estate License ID: RB14020128
    (765) 744-6493 (765) 288-0400
    Learn more
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