Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Muncie Office on McGalliard Road Title is generated by Realmo AI

    2106 W McGalliard Road, Muncie, IN 47304

    View on Map
    Claim this Listing
    New
    For Lease
    $17 SF/Yr $2,983/Mo (calc)

    Office - Muncie, IN

    Type:Office
    Property size:
    2,106 SF
    Lot size:
    0.34 Acres
    Added:
    May 11, 2026
    Days on Market:
    1
    Last Refresh:
    May 11 at 11:06 pm

    Property Features for 2106 W McGalliard Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking features
    Paved or Surfaced
    Interior features
    Drywall, Other
    Standard status
    Active
    APN
    18-07-32-457-056.000-003
    Size
    2,106 SF
    Lot size
    0.34 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1978
    Floors in Building
    1
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Ryan Kramer
    Ryan Kramer

    Listing agent Ryan Kramer License #RB14042267

    Listing office RE/MAX Real Estate Groups 2200 W McGalliard, Muncie, IN

    Listing date May 11, 2026

    MLS# 202617655 Listing URL

    Copyright © 2026 Mid-Eastern Indiana Association of Realtor MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑traffic location on West McGalliard Rd.
    • Adaptable layout suitable for medical, professional, or retail use.
    • Existing layout includes waiting room, reception, exam rooms, and offices.
    • Ample parking available.
    • Located in the Norwood West Office Association.
    • Brick construction with paved parking.

    Overview

    This professional office space is located in Northwest Muncie on West McGalliard Road, a high-traffic corridor. Previously used as a medical office, the property can be converted for professional or retail use. The current layout includes a waiting room, reception area, four exam rooms, a physical therapy room, a spa, a nurse's station, two restrooms, a manager's office, and a private physician's office/study. The building is part of the Norwood West Office Association and offers ample parking. The property has a size of 2106 square feet and sits on a lot of 0.34 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Indiana Foot & Ankle ... Physician Indiana Foot & Ankle ... Physician Allstate Insurance Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store 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
    -85.410969
    Latitude
    40.219196

    Nearby Similar for Lease

    • $2,500/Mo

      Heated Flex Space For Lease

      4000 SF flex space suitable for various commercial uses.
      1803 W Purdue Avenue, Muncie, IN 47304
      View Details
    • $3,000/Mo

      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 SF/Yr

      Muncie Office Space Available 2027

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

      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 SF/Yr

      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 SF/Yr

      Muncie Office Suite For Rent

      Professional office suite in North Muncie with flexible workspace.
      1600 W Riggin Road, Muncie, IN 47303
      View Details
    • $1,800/Mo

      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 SF/Yr

      Muncie Commercial Space Available

      Versatile commercial space suitable for medical, office, or retail use.
      4197 W Clara Lane, Muncie, IN 47304
      View Details
    • $2,000/Mo

      Muncie Industrial Space Available

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

      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
    • $2,375/Mo

      Muncie Retail or Office Space

      Retail or office space near Tillotson, IU Hospital, and Ball State.
      2902 W White River Boulevard, Muncie, IN 47304
      View Details
    • $1,000/Mo

      Corner Office Suite For Rent

      Corner office suite with utilities included and parking.
      2000 W Riggin Rd, Muncie, IN
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Professional office space on high-traffic corridor, suitable for medical/retail.
    Where is this medical office space located?
    The property is located at 2106 W McGalliard Road Muncie, IN.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: High‑traffic location on West McGalliard Rd.; Adaptable layout suitable for medical, professional, or retail use.; Existing layout includes waiting room, reception, exam rooms, and offices.
    (765) 717-2489
    We can help!
    Listing Contact
    Ryan Kramer
    Ryan Kramer
    Real Estate License ID: RB14042267
    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

    Thank You for Inquiry
    2106 W McGalliard Road, Muncie, IN 47304
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!