Medical Office with Second-Level
New
For Sale
$575,000
3400 W Purdue Avenue, Muncie, IN 47304
COMMERCIAL, Muncie, IN
Property Size4,802 SF
Lot Size0.50 Acres
Price / SF$119.74
Days on Market6
Property Features for 3400 W Purdue Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Lot features
Commercial
Directions
GPS Friendly address
Subdivision
Delaware County
Standard status
Active
APN
07-31-42-602-400.000-000
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
25
Tax Description
NORTH LYNDENBROOK PLACE SEC 2 0.0000Acres STR: 312110 IN: 52 OUT:
Tax Annual Amount
8904
Legal Description
NORTH LYNDENBROOK PLACE SEC 2 0.0000Acres STR: 312110 IN: 52 OUT:
Utilities
Cooling system
Central Air
Amenities
patient lobby
reception area
examination rooms
X-ray room
conference room
break area with kitchenette
Building Details
Year built
1987
Flooring type
Laminate, Mixed, Carpet
Roof type
Shingle
Listing Agency:
Corporate Commercial Group
(317) 502-3622
Listed By:
Santino Zurzolo
(260) 740-1887
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 20 at 6:06PM
MLS# 202642931
Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. 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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Investment Insights
Based on property information with market context.
This 4,802-square-foot medical office in Muncie includes a patient lobby, reception area, multiple exam rooms with built-in cabinetry and sinks, and a radiation-shielded X-ray room. A conference room and staff break area with kitchenette round out the office layout. The building dates to 1987 and has central air, laminate and carpet flooring, and a shingle roof. A one-bedroom, one-bath apartment occupies the second level, offering a separate residential component subject to zoning and occupancy requirements.
The property sits in an established office park among medical practices, executive office suites, and other businesses. Retail shopping, restaurants, hotels, and additional commercial services are nearby.
The property sits in an established office park among medical practices, executive office suites, and other businesses. Retail shopping, restaurants, hotels, and additional commercial services are nearby.
Key Highlights
- 4,802‑square‑foot medical office building
- Second‑level apartment with one bedroom and one bathroom
- Exam rooms include built‑in medical cabinetry and handwashing sinks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,098
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,021,960
$1.0M
Cap Rate 7%
$729,971
$730.0K
Cap Rate 9%
$567,756
$567.8K
Market Conditions
NOI Build-Up for 4,802 SF
Gross rent
$87.0K $18.12/SF
− Vacancy
−$18.9K −$3.93/SF
EGI
$68.1K $14.19/SF
− OpEx
−$17.0K −$3.55/SF
NOI
$51.1K $10.64/SF
Area
Delaware County, IN
Vacancy
21.70%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,021,960
Cap Rate 7%
$729,971
Cap Rate 9%
$567,756
Alternative Uses
Best Use
Office B
$730.0K
$638.7K – $851.6K
NOI $51,098 @ 7.0% cap · market cap 8.89%
Second Best
Healthcare Medical
$639.4K
$559.5K – $746.0K
NOI $44,757 @ 7.0% cap · market cap 7.78%
Theoretical Best
Multifamily LT 5
$3.37M
$2.95M – $3.94M
NOI $236,149 @ 7.0% cap · market cap 41.07%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 47304, IN
30,366
Population
14,303
Households
2.1
Avg Household Size
39
Median Age
41%
College-Educated
95%
High-School Grad
34.7 sq mi
ZIP Area
875
Density / Sq Mi
$67,756
Median Household Income
$33,077
Median Earnings
$951
Median Rent
$161,700
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- ARF's PAW Veterinary Clinic — 3115 W Bethel Ave, Muncie, IN 47304
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing clinical rooms and a separate upstairs residence support medical or professional office occupancy.
Where is this medical office space located?
The property is located at 3400 W Purdue Avenue Muncie, IN.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 4,802‑square‑foot medical office building; Second‑level apartment with one bedroom and one bathroom; Exam rooms include built‑in medical cabinetry and handwashing sinks
