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    The Largest CRE Database in the US with Over 1 Million Listings

    2902 W White River Blvd Muncie, IN 47304

    Sponsored
    For Lease
    $2,375 /Mo ($2 SF/Yr)

    Retail, Professional - Muncie, IN

    Type:Retail
    Property size:
    10,241 SF
    Lot size:
    0.77 Acres
    Days on Market:
    111
    Last Refresh:
    Feb 11 at 4:06 am

    Property Features for 2902 W White River Blvd

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    Rooms
    Office
    APN
    18-11-17-158-029.000-003
    Parking features
    Paved or Surfaced
    Interior features
    Drywall, None
    Size
    10,241 SF
    Lot size
    0.77 Acres

    Taxes and HOA fees

    Expense value
    1188
    Expense
    Other

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    2001
    Floors in Building
    1
    Flooring type
    Carpet
    Building materials
    Brick
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Monte Brown

    Coldwell Banker Lunsford (765) 289-2228

    Listing agent Monte Brown (765) 289-2228 License #RB14009220

    Listing date Oct 24, 2025

    MLS# 202435511 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

    Muncie Retail or Office Space

    This property offers 2780 square feet of space, which can be subdivided into a 1894 square foot space and an 886 square foot space. It is suitable for retail, office, medical, or retail showroom purposes. The property is located west of Tillotson, near IU Hospital and Ball State University, and overlooks the White River and the Cardinal Greenway Trail System. The surrounding businesses include Subway, Village Pantry, White River Dental, Kroger Grocery (Payless Brand), Great Clips, First Merchants Bank, H&R Block, Little Caesars, Sherwin Williams, Arby's, Taco Bell, KFC and Starbucks. The property is in excellent condition and well located for various business needs. The building size is 10241 square feet and the lot size is 0.77 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Crosswinds Counseling Counselor Lifeline Youth & Family ... Charitable Organization

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.420732
    Latitude
    40.185998

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    FAQs

    What type of property is this?
    Retail space - Retail or office space near Tillotson, IU Hospital, and Ball State.
    Where is this retail space located?
    The property is located at 2902 W White River Blvd Muncie, IN.
    What is the lease rate?
    The lease rate is $2 SF/Yr.
    What are key features of this property?
    This property features: - Excellent retail/office/medical location near Tillotson, IU Hospital, and Ball State University.; - Divisible space: Can be subdivided into 1894 sq ft and 886 sq ft units.; - High-traffic area with surrounding businesses including Kroger, First Merchants Bank, and Starbucks.
    (765) 744-1421
    Request Owner's contact information
    2902 W White River Blvd Muncie, IN 47304
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    Muncie, IN 47304
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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
    2902 W White River Blvd Muncie, IN 47304
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    We can help!
    Listing Contact
    Monte Brown
    Real Estate License ID: RB14009220
    (765) 744-1421
    Learn more
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