Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    401 S Walnut Muncie, IN

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office/artist suites for rent in historic downtown Muncie building.

    Type:OFFICE
    Property size:
    225 SF
    Lot size:
    0.11 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    127
    Last Refresh:
    Mar 30 at 11:25 pm

    Property Features for 401 S Walnut

    General Information

    Standard status
    Active
    Size
    225 SF
    Lot size
    0.11 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Lisa Brand, CCIM
    Lisa Brand, CCIM

    Listing agent Lisa Brand, CCIM License #RB14020834

    Listing office ADM Commercial Real Estate

    Listing date Nov 24, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of ADM Commercial Real Estate

    Overview

    Downtown Muncie Office/Artist Suites

    Office and artist suites are available for rent within the historic Murray building, situated in downtown Muncie. The rental rate includes utilities and Wi-Fi. The building features a secured entrance. Street parking is available, with additional off-site parking provided in a private lot. Tenant is responsible for providing their own A/C. The property is located one block from the Horizon Convention Center and Courtyard Marriott.
    Location Intelligence

    Current Use by Public Records

    The Caffeinery Cafe & Coffee Shop Hope Photography Photography Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.3866839
    Latitude
    40.1910084

    Nearby Similar for Lease

    • Contact for pricing

      Muncie Warehouse Flex Space Available

      Warehouse flex space with office in a great Muncie location.
      2105-2109 W Godman Avenue, Muncie, IN 47303
      View Details
    • $11/mo

      Muncie Office Space Available 2027

      Office suites in Muncie available January 1, 2027.
      3645 N Briarwood Lane, Muncie, IN 47304
      View Details
    • $9/mo

      Modern Flex Building with Amenities

      Well-maintained flex building with ample parking and modern amenities.
      4501 N Superior Drive, Muncie, IN 47303
      View Details
    • $9/mo

      Muncie Office Space For Rent

      Office space near Muncie City Hall and Delaware County Building.
      225 N High Street, Muncie, IN 47305
      View Details
    • $11/mo

      Muncie Office Suite For Rent

      Professional office suite in North Muncie with flexible workspace.
      1600 W Riggin Road, Muncie, IN 47303
      View Details
    • Contact for pricing

      Muncie Retail Space with Drive-Thru

      1,600 SF commercial space with drive-thru in Muncie, IN.
      4801 N Wheeling Avenue, Muncie, IN 47304
      View Details
    • $17/mo

      Muncie Commercial Space on McGalliard

      1,000 sqft retail or medical space with high visibility.
      4149 W Clara Lane, Muncie, IN 47304
      View Details
    • $17/mo

      Muncie Commercial Space Available

      Versatile commercial space suitable for medical, office, or retail use.
      4197 W Clara Lane, Muncie, IN 47304
      View Details
    • $14/mo

      Turnkey Medical Office Space

      Move-in ready medical office near IU Health and VA Clinic.
      800 S Tillotson Avenue, Muncie, IN 47303
      View Details
    • Contact for pricing

      Muncie Industrial Space Available

      Industrial space available for lease in Muncie, Indiana.
      2401 S Monroe Street, Muncie, IN 47302
      View Details
    • $4/mo

      Muncie Industrial Spaces For Lease

      Industrial spaces available in Muncie with recent improvements and convenient location.
      2100 adj N Granville Avenue, Muncie, IN 47303
      View Details
    • $3/mo

      Muncie Warehouse and Manufacturing Space

      64,000 SF manufacturing/warehouse space for lease in Downtown Industrial Center.
      1106 E Seymour Street, Muncie, IN 47302
      View Details

    FAQs

    What type of property is this?
    Office units - Office/artist suites for rent in historic downtown Muncie building.
    Where is this office units located?
    The property is located at 401 S Walnut Muncie, IN.
    What are key features of this property?
    This property features: Rent includes utilities and Wi‑Fi.; Located in the historic Murray building in downtown Muncie.; Secured entrance.
    (765) 282-7785
    We can help!
    Listing Contact
    Lisa Brand, CCIM
    Lisa Brand, CCIM
    Real Estate License ID: RB14020834
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!