Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2901 Doctor M.l.k. Jr Blvd Muncie, IN 47303
    Property profile & analytics

    2901 Doctor M.l.k. Jr Blvd, Muncie, IN 47303

    View on Map
    • Specialty properties
    • 6,148 SF
    • 0.67 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 2901 Doctor M.l.k. Jr Blvd

    Year built
    1945
    Lot size
    0.67 lot acres
    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    Discover a remarkable commercial investment opportunity in Muncie, Indiana. This expansive 6,148 square foot storefront, located at 2901 Doctor M.L. King Jr Blvd, presents a versatile space ideal for various business ventures. Built in 1945, this single-story building sits on a 0.67-acre lot and features a spacious layout with 11-foot ceilings, perfect for showcasing products or creating a dynamic workspace. Large display windows maximize visibility, attracting both pedestrian and vehicular traffic. The property boasts convenient dual-entrance parking, ensuring easy access for customers and employees. Zoned for Variety Business, this prime location offers high visibility and accessibility, surrounded by established businesses. The vacant space is adaptable and could be easily divided into multiple suites to accommodate diverse needs. This property presents a unique chance to establish or expand a business in a thriving commercial area. The APN is 18-11-03-254-009.000-003. This is a truly exceptional opportunity in Delaware County, Indiana, with a list price of $215,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.3743
    Latitude
    40.2173

    Comparable in this City

    • Value Estimation by Request
      872 SF

      1000 Mcgalliard Rd

      Restaurants
      1000 Mcgalliard Rd, Muncie, IN 47303
      View Details
    • Value Estimation by Request
      5,404 SF

      1712 University Ave

      Restaurants
      1712 University Ave, Muncie, IN 47303
      View Details
    • Value Estimation by Request
      0.42 Acres

      1908 Mcgalliard Rd

      Multifamily properties
      1908 Mcgalliard Rd, Muncie, IN 47303
      View Details
    • Value Estimation by Request
      7.50 Acres

      Mcgalliard Visibility Next To Fresh Thyme Grocery

      Multifamily properties
      0 Mcgalliard Visibility Next To Fresh Thyme Grocery, Muncie, IN 47303
      View Details
    • Value Estimation by Request
      0.13 Acres

      300 Blk W Joseph St

      CHARITABLE ORGANIZATION
      300 Blk W Joseph St, Muncie, IN 47303
      View Details
    • Value Estimation by Request
      0.01 Acres

      201 Centennial Ave

      CHARITABLE ORGANIZATION
      201 Centennial Ave, Muncie, IN 47303-5702
      View Details

    Similar Nearby for Sale

    • $375,000

      Versatile Commercial Property in Muncie

      Commercial property with high visibility and flexible layout options.
      1901 West Kilgore Ave, Muncie, IN 47303
      View Details
    • Contact for pricing
      1,400 SF

      NNN Leased Retail Property

      20-year absolute NNN lease retail property for sale.
      3904 W Bethel Ave, Muncie, IN 47303
      View Details
    • Contact for pricing
      2,126 SF

      McGalliard Road Retail Opportunity

      Retail site near high-traffic intersection on McGalliard Road.
      211 W Mcgalliard Rd, Muncie, IN 47303
      View Details
    • Contact for pricing

      McGalliard Visibility Commercial Property

      Commercial property with high visibility next to Fresh Thyme Grocery.
      Mcgalliard Visibility Next To Fresh Thyme Grocery, Muncie, IN 47303
      View Details
    • $250,000
      Pending

      Turnkey Salon Near Ball State

      Fully operational salon near Ball State University for sale.
      201 E Centennial Ave, Muncie, IN 47303
      View Details
    • Contact for pricing
      7,648 SF

      Former CVS Building For Sale

      7,648 SF former CVS building ideal for retail/redevelopment.
      3310 E Jackson St, Muncie, IN 47303
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Retail Space with Drive-Thru Lane

      12,000 SF retail space available for lease with drive-thru.
      800 E Mcgalliard Rd, Muncie, IN 47303
      View Details
    • Contact for pricing
      31,000 SF

      Retail Space in Muncie, Indiana

      Retail space available for rent in Muncie, Indiana.
      2006 Walnut St N Walnut, Muncie, IN 47303
      View Details
    • Contact for pricing
      4,562 SF

      Ball State Village Retail Space

      Retail space near Ball State University and Performing Arts Center.
      1813 W University Ave, Muncie, IN 47303
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Near Ball State

      Retail space available near Ball State University.
      617 East Mcgalliard Rd, Muncie, IN 47303
      View Details
    • $1,650 /Mo
      9,040 SF

      Muncie Retail/Office Space Available

      Retail or office space for rent in high-traffic Muncie location.
      4415 N Broadway Ave, Muncie, IN 47303
      View Details
    • Contact for pricing
      5,400 SF

      Retail Space in Muncie, Indiana

      5,400 SF retail space available for lease.
      3304 N Madison St, Muncie, IN 47303
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2901 Doctor M.l.k. Jr Blvd
    Muncie, IN 47303
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2901 Doctor M.l.k. Jr Blvd, Muncie, IN, 47303
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!