12-Unit Storefront
New
For Sale
$1,500,000
623-625 S Tillotson Ave S, Muncie, IN 47304
Three buildings provide fully leased commercial space along a retail and medical corridor.
Property Size6,960 SF
Price / SF$215.52
Days on Market5
Property Features for 623-625 S Tillotson Ave S
General Information
Standard status
Active
Size
6,960 SF
Property subtype
Commercial
Occupancy
100%
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
Beycome Brokerage Realty LLC
Listed By:
Streamlined Realty
(317) 721-2274
Source:
Streamlinedrealty
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 11 at 7:59AM
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 Beycome Brokerage Realty LLC
Investment Insights
Based on property information with market context.
Three commercial buildings contain 12 business units across 6,960 square feet. The property is fully leased, with reported occupancy of 100%, and may be held as a leased asset or considered for redevelopment.
The site at 623-625 S Tillotson Ave is adjacent to a Payless grocery store, Taco Bell and KFC. It is positioned in southwest Muncie between downtown and Yorktown, with Ball State University, Indiana University Hospital and White River described as nearby destinations.
The site at 623-625 S Tillotson Ave is adjacent to a Payless grocery store, Taco Bell and KFC. It is positioned in southwest Muncie between downtown and Yorktown, with Ball State University, Indiana University Hospital and White River described as nearby destinations.
Key Highlights
- 12 business units across three buildings
- 6,960 square feet of commercial space
- 100% occupied and fully leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,254
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,325,080
$2.3M
Cap Rate 7%
$1,660,771
$1.7M
Cap Rate 9%
$1,291,711
$1.3M
Market Conditions
NOI Build-Up for 6,960 SF
Gross rent
$173.7K $24.96/SF
− Vacancy
−$7.6K −$1.10/SF
EGI
$166.1K $23.86/SF
− OpEx
−$49.8K −$7.16/SF
NOI
$116.3K $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%
$2,325,080
Cap Rate 7%
$1,660,771
Cap Rate 9%
$1,291,711
Alternative Uses
Best Use
Retail
$1.66M
$1.45M – $1.94M
NOI $116,254 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$4.89M
$4.28M – $5.70M
NOI $342,273 @ 7.0% cap · market cap 22.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,372
Businesses Nearby
218k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 18%
Groceries 17%
Beauty & Spa 2%
Pay Less Super Markets
Groceries
37,565 visits/mo
0.1 miles
McDonald's
Dining
31,185 visits/mo
0.2 miles
Starbucks
Dining
17,661 visits/mo
0.1 miles
Wendy's
Dining
15,963 visits/mo
0.3 miles
7 Brew Coffee
Dining
13,297 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Three buildings provide fully leased commercial space along a retail and medical corridor.
Where is this storefront property located?
The property is located at 623-625 S Tillotson Ave S Muncie, IN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 12 business units across three buildings; 6,960 square feet of commercial space; 100% occupied and fully leased
