Retail
For Sale
Contact for pricing
1520 W North Street, Muncie, IN 47303
Built in 2015, the 2,200-square-foot space is part of Village Promenade.
Property Size2,200 SF
Price / SF$10
Days on Market9
Property Features for 1520 W North Street
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Commercial
Building Details
Year Built
2015
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
Jacob Wagner · License #RB23000239
(317) 448-8852
Source:
Jmrealtyonline
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:33PM
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 Coldwell Banker Real Estate Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,200-square-foot commercial space at Village Promenade was built in 2015. Its retail classification supports customer-facing commercial use.
The property is on W. North Street in Muncie, within The Village at Ball State University. It is adjacent to the university’s revitalization initiative, where townhomes and single-family homes are under construction. The surrounding district serves students, faculty, residents, and visitors.
The property is on W. North Street in Muncie, within The Village at Ball State University. It is adjacent to the university’s revitalization initiative, where townhomes and single-family homes are under construction. The surrounding district serves students, faculty, residents, and visitors.
Key Highlights
- 2,200‑square‑foot retail space
- Built in 2015
- Located within Village Promenade in The Village at Ball State University
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,747
Suggested Prices Based on Cap Rates
Cap Rate 5%
$734,940
$734.9K
Cap Rate 7%
$524,957
$525.0K
Cap Rate 9%
$408,300
$408.3K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$54.9K $24.96/SF
− Vacancy
−$2.4K −$1.10/SF
EGI
$52.5K $23.86/SF
− OpEx
−$15.7K −$7.16/SF
NOI
$36.7K $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%
$734,940
Cap Rate 7%
$524,957
Cap Rate 9%
$408,300
Alternative Uses
Best Use
Retail
$525.0K
$459.3K – $612.5K
NOI $36,747 @ 7.0% cap · market cap 167.03%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.55M
$1.35M – $1.80M
NOI $108,190 @ 7.0% cap · market cap 491.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
950
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 73%
Shops & Services 27%
Jimmy John's
Dining
3,812 visits/mo
0.1 miles
Greek's Pizzeria
Dining
3,494 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
3,187 visits/mo
0.1 miles
China Express
Dining
2,639 visits/mo
0.2 miles
Marathon Petroleum
Shops & Services
1,180 visits/mo
0.3 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
Frequently Asked Questions
What type of property is this?
Retail space - Built in 2015, the 2,200-square-foot space is part of Village Promenade.
Where is this retail space located?
The property is located at 1520 W North Street Muncie, IN.
What are key features of this property?
This property features: 2,200‑square‑foot retail space; Built in 2015; Located within Village Promenade in The Village at Ball State University
