Commercial Building with
4801 N Wheeling Avenue Muncie, IN 47304
For Sale
$395,000
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 Market141
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 Commercial Real Estate Group
(765) 808-1400
Listed By:
Brian Allardt · License #RB14013784
(765) 808-1400
Source:
Cbcworldwide
Added: Mar 5
Changed: Jul 10
Last Checked: Apr 9 at 9:00PM
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 Commercial 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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.9k | $24.96 |
| − Vacancy | −$1.8k | −$1.10 |
| EGI | $38.2k | $23.86 |
| − OpEx | −$11.5k | −$7.16 |
| NOI | $26.7k | $16.70 |
1,600 SF · lease $24.96/SF/yr · vacancy 4.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$381.8K
$334.1K – $445.4K
NOI $26,725 @ 7.0% cap · market cap 6.77%
Second Best
Mixed Use
$191.8K
$167.8K – $223.8K
NOI $13,425 @ 7.0% cap · market cap 3.40%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
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.
