Drive-Through Storefront
For Sale
$395,000
4801 N Wheeling Avenue, Muncie, IN 47304
COMMERCIAL, Muncie, IN
Property Size1,600 SF
Lot Size0.55 Acres
Price / SF$246.88
Days on Market47
Property Features for 4801 N Wheeling Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking features
Off Street
Directions
From McGalliard Rd heading East, turn left onto Wheeling Ave, property on left side
Subdivision
Delaware County
Standard status
Active
APN
18-07-32-203-013.000-003
Lot size
0.55 Acres
Taxes and HOA fees
Tax Year
24
Tax Description
S32 T21 R10 0.550 AC
Tax Annual Amount
3831
Legal Description
S32 T21 R10 0.550 AC
Utilities
Cooling system
Central Air
Amenities
drive-thru
outdoor signage
vault
Building Details
Year built
1970
Flooring type
Carpet, Tile
Listing Agency:
Coldwell Banker Real Estate Group
(765) 289-2228
Listed By:
Brian Allardt · License #RB14013784
(765) 808-1400
Added: Aug 22
Changed: Sep 13
Last Checked: Oct 7 at 12:06AM
MLS# 202634476
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.
This 1,600-square-foot storefront property in Muncie offers a flexible commercial layout with a drive-through, outdoor signage, a vault, and off-street parking. Interior finishes include carpet and tile, with central air conditioning serving the building. The configuration supports retail, office, or food service use as identified for the property.
Built in 1970, the building was originally developed for a bank branch and later operated as The Mailroom, a USPS substation. The property occupies 0.55 acres as an out lot within a shopping center that includes Dilman's Furniture, Dollar General, and Speedway. Located at 4801 N Wheeling Avenue, the site provides an established commercial setting for a range of storefront operations.
Built in 1970, the building was originally developed for a bank branch and later operated as The Mailroom, a USPS substation. The property occupies 0.55 acres as an out lot within a shopping center that includes Dilman's Furniture, Dollar General, and Speedway. Located at 4801 N Wheeling Avenue, the site provides an established commercial setting for a range of storefront operations.
Key Highlights
- 1,600‑square‑foot commercial storefront on 0.55 acres
- Drive‑through, outdoor signage, vault, and off‑street parking
- Flexible layout identified for retail, office, or food service use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,725
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,500
$534.5K
Cap Rate 7%
$381,786
$381.8K
Cap Rate 9%
$296,944
$296.9K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$39.9K $24.96/SF
− Vacancy
−$1.8K −$1.10/SF
EGI
$38.2K $23.86/SF
− OpEx
−$11.5K −$7.16/SF
NOI
$26.7K $16.70/SF
Area
Delaware County, IN
Vacancy
4.40%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,500
Cap Rate 7%
$381,786
Cap Rate 9%
$296,944
Alternative Uses
Best Use
Retail
$381.8K
$334.1K – $445.4K
NOI $26,725 @ 7.0% cap · market cap 6.77%
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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
30k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Dining 22%
Speedway
Shops & Services
10,198 visits/mo
0.1 miles
Pizza King
Dining
6,666 visits/mo
0.5 miles
Shell
Shops & Services
6,263 visits/mo
0.4 miles
Dollar General
Shops & Services
5,852 visits/mo
0.1 miles
Storage Rentals of America
Shops & Services
671 visits/mo
0.5 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial layout with central air, off-street parking, and a vault.
Where is this storefront 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: 1,600‑square‑foot commercial storefront on 0.55 acres; Drive‑through, outdoor signage, vault, and off‑street parking; Flexible layout identified for retail, office, or food service use
