Single-Story Office
For Sale
$699,000
3621 N Everbrook Lane, Muncie, IN 47304
COMMERCIAL - Muncie, IN
Property Size6,300 SF
Lot Size0.62 Acres
Price / SF$110.95
Days on Market347
Property Features for 3621 N Everbrook Lane
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
Heading East down Mcgalliard, turn left on to Everbrook, property on left
Subdivision
Delaware County
Standard status
Active
APN
18-07-31-426-011.000-003
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
49
Tax Description
NORTH LYNDENBROOK PLACE SEC 2 0.0000Acres STR: 312110 IN: 39 OUT:
Tax Annual Amount
9828
Legal Description
NORTH LYNDENBROOK PLACE SEC 2 0.0000Acres STR: 312110 IN: 39 OUT:
Utilities
Cooling system
Central Air
Building Details
Year built
1990
Flooring type
Carpet, Tile
Roof type
Asphalt
Listing Agency:
Coldwell Banker Real Estate Group
(765) 289-2228
Listed By:
Jacob Wagner · License #RB23000239
(317) 448-8852
Added: Aug 25, 2025
Changed: Aug 4
Last Checked: Aug 6 at 11:06AM
MLS# 202533979
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.
Investment Insights
Based on property information with market context.
Well-maintained single-story office building offering a flexible interior layout with modern office build-outs. The space includes private offices, reception, break areas, and restrooms, supported by central air conditioning. Interior finishes include carpet and tile flooring, and the property is roofed with asphalt shingles.
Built in 1990, the building sits on a 0.62-acre site with ample surface parking. The property is located just off McGalliard Road in the Muncie, IN area, providing convenient access to nearby dining, retail, and essential services.
At approximately 6,300 SF, this office facility can work well for professional, medical, or service-oriented users seeking a ready-to-occupy single-story footprint with on-site parking.
Built in 1990, the building sits on a 0.62-acre site with ample surface parking. The property is located just off McGalliard Road in the Muncie, IN area, providing convenient access to nearby dining, retail, and essential services.
At approximately 6,300 SF, this office facility can work well for professional, medical, or service-oriented users seeking a ready-to-occupy single-story footprint with on-site parking.
Key Highlights
- Approximately 6,300 SF single‑story office building with flexible layout
- 0.62‑acre site with ample surface parking
- Built in 1990
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,719
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,174,380
$1.2M
Cap Rate 7%
$838,843
$838.8K
Cap Rate 9%
$652,433
$652.4K
Market Conditions
NOI Build-Up for 6,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$113.4K $18.00/SF
− Vacancy
−$15.5K −$2.47/SF
EGI
$97.9K $15.53/SF
− OpEx
−$39.1K −$6.21/SF
NOI
$58.7K $9.32/SF
Area
Delaware County, IN
Vacancy
13.70%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,174,380
Cap Rate 7%
$838,843
Cap Rate 9%
$652,433
Alternative Uses
Best Use
Office B
$957.7K
$838.0K – $1.12M
NOI $67,038 @ 7.0% cap · market cap 9.59%
Second Best
Healthcare Medical
$838.8K
$734.0K – $978.7K
NOI $58,719 @ 7.0% cap · market cap 8.40%
Theoretical Best
Multifamily LT 5
$4.43M
$3.87M – $5.16M
NOI $309,816 @ 7.0% cap · market cap 44.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office building with modern build-outs, central air, and private office, reception, and break-area space.
Where is this office building located?
The property is located at 3621 N Everbrook Lane Muncie, IN.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Approximately 6,300 SF single‑story office building with flexible layout; 0.62‑acre site with ample surface parking; Built in 1990
