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    404 Air Park Dr Muncie, IN 47303

    Sponsored
    For Sale
    $980,000

    High-yield, multi-tenant commercial building.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    343
    This exceptional investment opportunity presents a 12,250-square-foot commercial building situated on a 2.5-acre lot within Muncie's Airpark Center Industrial Park. Constructed in 2010, the property boasts a durable brick and metal façade, a metal roof, covered sidewalks, and ample concrete parking. Three established tenants—Peterman Brothers HVAC (anchor tenant), Quality Correctional Care, and Centimark Commercial Roofing—currently occupy the space under leases extending into 2027 and 2028, generating a substantial gross annual income of $105,900 ($8,825 monthly). Annual expenses average approximately $35,000, resulting in a healthy net annual income of $70,900. The building's strategic location offers convenient access to Muncie Airport, Delaware County, the Muncie Bypass, and Interstate 69. The property features a versatile layout, including Suite One (400 W Air Park Drive), offering 3,284 square feet of office space, and Suite Three (408 W Air Park Drive), encompassing 7,850 square feet, which includes garage space. The west portion of the building also includes an overhead door, ideal for indoor vehicle or equipment storage. All suites are currently leased. Prior arrangements must be made for property inspections. This low-maintenance property represents a strong, stable investment with significant return potential.

    Property Features for 404 Air Park Dr

    General Information

    Property type
    Other commercial real estate
    Lot Size
    108,900 SF

    Building Details

    Year Built
    2010
    Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.39053
    Latitude
    40.22783

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    FAQs

    What type of property is this?
    Commercial real estate - High-yield, multi-tenant commercial building.
    Where is this commercial real estate located?
    The property is located at 404 Air Park Dr Muncie, IN.
    What is the asking price?
    The asking price for this property is $980,000.
    (765) 289-2228
    Request Owner's contact information
    404 Air Park Dr Muncie, IN 47303
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    Realmo Value Estimation

    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.

    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.

    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
    404 Air Park Dr Muncie, IN 47303
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