Patio Retail
For Sale
Contact for pricing
1708 W University Avenue, Muncie, IN 47303
An outdoor patio adds customer seating space for retail or restaurant operations.
Property Size1,300 SF
Price / SF$20.31
Days on Market9
Property Features for 1708 W University Avenue
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Commercial
Amenities
outdoor patio
Building Details
Year Built
1986
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 3:03PM
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
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Investment Insights
Based on property information with market context.
This retail space at 1708 W University Avenue in Muncie contains approximately 1,300 square feet and dates to 1986. An outdoor patio provides additional space for customer seating. The layout is suitable for retail or restaurant uses.
The property is in The Village beside Ball State University, where university activity, nearby businesses, and residential areas contribute to vehicle and pedestrian traffic. It is also next to the Cantio Hotel and the university’s performing arts center, both described as nearing completion.
The property is in The Village beside Ball State University, where university activity, nearby businesses, and residential areas contribute to vehicle and pedestrian traffic. It is also next to the Cantio Hotel and the university’s performing arts center, both described as nearing completion.
Key Highlights
- Approximately 1,300 square feet of retail space
- Outdoor patio provides additional customer space
- Adjacent to Ball State University in The Village
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,714
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,280
$434.3K
Cap Rate 7%
$310,200
$310.2K
Cap Rate 9%
$241,267
$241.3K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$32.4K $24.96/SF
− Vacancy
−$1.4K −$1.10/SF
EGI
$31.0K $23.86/SF
− OpEx
−$9.3K −$7.16/SF
NOI
$21.7K $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%
$434,280
Cap Rate 7%
$310,200
Cap Rate 9%
$241,267
Alternative Uses
Best Use
Retail
$310.2K
$271.4K – $361.9K
NOI $21,714 @ 7.0% cap · market cap 82.25%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$913.3K
$799.1K – $1.07M
NOI $63,930 @ 7.0% cap · market cap 242.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,225
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
0.2 miles
China Express
Dining
2,639 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
1,180 visits/mo
0.4 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
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - An outdoor patio adds customer seating space for retail or restaurant operations.
Where is this retail space located?
The property is located at 1708 W University Avenue Muncie, IN.
What are key features of this property?
This property features: Approximately 1,300 square feet of retail space; Outdoor patio provides additional customer space; Adjacent to Ball State University in The Village
