Commercial Building with
For Sale
$395,000
4801 N Wheeling Avenue, Muncie, IN 47304
Versatile 1,600 SQFT building suitable for retail, office, or food service.
Property Size1,600 SF
Lot Size0.55 Acres
Price / SF$246.88
Days on Market222
Property Features for 4801 N Wheeling Avenue
General Information
Standard status
Active
Size
1,600 SF
Lot size
0.55 Acres
Property subtype
Mixed Use
Building Details
Year Built
1970
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
Brian Allardt · License #RB14013784
(765) 808-1400
Source:
Cbcworldwide
Added: Mar 5
Changed: Oct 11
Last Checked: Oct 12 at 4:37PM
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
Investment Insights
Based on property information with market context.
This is a versatile commercial building offering 1,600 square feet of space, suitable for sale or lease. The property features a drive-thru, prominent outdoor signage, ample parking, and a vault. Its flexible layout accommodates various uses, including retail, office, or food service. The building is situated in a major trading zone, offering great visibility and easy access. Originally constructed as a bank branch, it most recently served as a USPS substation known as "The Mailroom". The property is an out lot to a shopping center that includes Dilman's Furniture, Dollar General, and Speedway, and sits on 0.55 acres.
Key Highlights
- Prime location in a Major Trading Zone with great visibility and easy access.
- Versatile 1,600 SQFT building suitable for retail, office, or food service.
- Includes a drive‑thru, prominent outdoor signage, ample parking, and a vault.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,425
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$268,500
$268.5K
Cap Rate 7%
$191,786
$191.8K
Cap Rate 9%
$149,167
$149.2K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$24.0K $15.00/SF
− Vacancy
−$2.5K −$1.58/SF
EGI
$21.5K $13.43/SF
− OpEx
−$8.1K −$5.03/SF
NOI
$13.4K $8.39/SF
Area
Delaware County, IN
Vacancy
10.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$268,500
Cap Rate 7%
$191,786
Cap Rate 9%
$149,167
Alternative Uses
Best Use
Mixed Use
$191.8K
$167.8K – $223.8K
NOI $13,425 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.12M
$983.5K – $1.31M
NOI $78,683 @ 7.0% cap · market cap 19.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
183
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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile 1,600 SQFT building suitable for retail, office, or food service.
Where is this mixed-use property located?
The property is located at 4801 N Wheeling Avenue Muncie, IN.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Prime location in a Major Trading Zone with great visibility and easy access.; Versatile 1,600 SQFT building suitable for retail, office, or food service.; Includes a drive‑thru, prominent outdoor signage, ample parking, and a vault.
