Live-Work Industrial
For Sale
$139,900
313 W 5th Street, Muncie, IN 47302
INVESTMENT, Muncie, IN
Property Size1,014 SF
Lot Size0.78 Acres
Price / SF$137.97
Days on Market156
Property Features for 313 W 5th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Basement, Bedroom 2
Parking
10
Parking features
Off Street
Fencing
Chain Link
Lot features
City/ Town/ Suburb, Corner
Elementary school
Southview
Middle school
Southside
High school
Central
Elementary school district
Muncie Community Schools
Middle school district
Muncie Community Schools
High school district
Muncie Community Schools
Directions
GPS friendly
Subdivision
Delaware County
Standard status
Active
APN
181116430007000003
Size
1,014 SF
Lot size
0.78 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
S P A E 140FT LOT 1 BLK 6
Legal Description
S P A E 140FT LOT 1 BLK 6
Utilities
Cooling system
Central Air, Multi Units
Building Details
Year built
1900
Number of units
1
Flooring type
Mixed
Roof type
Asphalt, Metal, Shingle
Listing Agency:
RE/MAX Real Estate Groups · RE/MAX International
(765) 288-0400
Listed By:
Lisa Buckner · License #RB14050240
(765) 215-9665
Added: May 29
Changed: Oct 27
Last Checked: Oct 31 at 10:06AM
MLS# 202623603
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This live-work property combines an operating machine shop with additional outbuildings and residential income. The setup includes the commercial machine shop building, an additional pole barn for storage or expansion, and a separate 2-bedroom, 1-bath rental home with an unfinished attic. The fenced property provides outdoor space, including ample parking.
Conveniently located near downtown Muncie, the property offers a mixed configuration for buyers seeking established industrial space alongside a residential unit for rental income.
Conveniently located near downtown Muncie, the property offers a mixed configuration for buyers seeking established industrial space alongside a residential unit for rental income.
Key Highlights
- Operating machine shop in place, with history dating to the early 1900s (Kemp Machine Shop and later BK Machine Shop).
- Includes commercial building plus an additional pole barn for storage or expansion.
- Separate 2‑bedroom, 1‑bath rental home with an unfinished attic.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,270
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$245,400
$245.4K
Cap Rate 7%
$175,286
$175.3K
Cap Rate 9%
$136,333
$136.3K
Market Conditions
NOI Build-Up for 1,014 SF
Gross rent
$19.3K $19.08/SF
− Vacancy
−$1.8K −$1.79/SF
EGI
$17.5K $17.29/SF
− OpEx
−$5.3K −$5.19/SF
NOI
$12.3K $12.10/SF
Area
Delaware County, IN
Vacancy
9.40%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$245,400
Cap Rate 7%
$175,286
Cap Rate 9%
$136,333
Alternative Uses
Best Use
Apartment 5plus
$617.2K
$540.0K – $720.0K
NOI $43,201 @ 7.0% cap · market cap 30.88%
Second Best
Industrial
$175.3K
$153.4K – $204.5K
NOI $12,270 @ 7.0% cap · market cap 8.77%
Theoretical Best
Multifamily LT 5
$712.4K
$623.3K – $831.1K
NOI $49,866 @ 7.0% cap · market cap 35.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 47302, IN
25,704
Population
12,625
Households
2
Avg Household Size
42
Median Age
12%
College-Educated
86%
High-School Grad
65.2 sq mi
ZIP Area
394
Density / Sq Mi
$47,185
Median Household Income
$31,795
Median Earnings
$865
Median Rent
$70,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Manufacturing property - Operating machine shop, additional pole barn, and a fenced site with a 2-bedroom rental home.
Where is this manufacturing property located?
The property is located at 313 W 5th Street Muncie, IN.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Operating machine shop in place, with history dating to the early 1900s (Kemp Machine Shop and later BK Machine Shop).; Includes commercial building plus an additional pole barn for storage or expansion.; Separate 2‑bedroom, 1‑bath rental home with an unfinished attic.
