Listing Agency: ADM Commercial Real Estate

Listed By: Mark Sturgis (765) 749-0665 · License #IN RB14034183 Show Phone

Source: Crexi

Added: Aug 29, 2020 Changed: Oct 8 Last Checked: Oct 23 at 4:31AM

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Investment Insights

Based on property information with market context.

This listing offers a retail storefront property for sale. The space is presented as 872 square feet, providing a compact footprint suited to a small retail use.

The property is located at 1000 W McGalliard in Muncie, Indiana. For additional details on the property’s condition, configuration, and any included improvements, please contact the listing agent.

Transaction terms, zoning, and tenant use specifics are not provided in the available materials, so prospective buyers should verify details directly with the agent.

Key Highlights

• Retail storefront property for sale with 872 total SF.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,565

Cap Rate

4.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$291,300 $291.3K

Cap Rate 7%

$208,071 $208.1K

Cap Rate 9%

$161,833 $161.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 872 SF

Gross rent

$21.8K $24.96/SF

− Vacancy

−$958 −$1.10/SF

EGI

$20.8K $23.86/SF

− OpEx

−$6.2K −$7.16/SF

NOI

$14.6K $16.70/SF

Area

Delaware County, IN

Vacancy

4.40%

Lease Rate

$24.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$291,300

Cap Rate 7%

$208,071

Cap Rate 9%

$161,833

Alternative Uses

Best Use

Retail

$208.1K

$182.1K – $242.8K (±1% cap)

NOI $14,565 @ 7.0% cap · market cap 4.58%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$612.6K

$536.0K – $714.7K (±1% cap)

NOI $42,883 @ 7.0% cap · market cap 13.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Daycare Center Plumbing Service Catering Service (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

633

Businesses Nearby

568k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 55% Shops & Services 20% Groceries 17% Office Supplies 2%

Chick-fil-A Dining

51,576 visits/mo 0.3 miles

Pay Less Super Markets Groceries

49,965 visits/mo 0.4 miles

Aldi Groceries

32,959 visits/mo 0.5 miles

Starbucks Dining

31,889 visits/mo 0.2 miles

Culver's Dining

23,409 visits/mo 0.2 miles

Demographics for 47303, IN

24,069

Population

11,567

Households

2.1

Avg Household Size

30

Median Age

25%

College-Educated

90%

High-School Grad

58.0 sq mi

ZIP Area

415

Density / Sq Mi

$42,556

Median Household Income

$22,497

Median Earnings

$883

Median Rent

$106,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Retail storefront property offered for sale with 872 total square feet.

Where is this storefront property located?

The property is located at 1000 W McGalliard Muncie, IN.

What is the asking price?

The asking price for this property is $318,000.

What are key features of this property?

This property features: Retail storefront property for sale with 872 total SF.