213 Washington StMuncie, IN 47305

Property Details for 213 Washington St

Year built

1925

Construction

CONCRETE

Lot size

0.12 AC

Property size (Sq ft)

21,686 SF

Property type

Retail properties

Property subtype

Parking lots & garages

APN

18-11-10-360-006.000-003

APU

181110360006000003

Description

This exceptional redevelopment opportunity presents a unique chance to acquire a historic mixed-use building situated at 213 E Washington St, Muncie, Indiana, 47305. The property, encompassing 21,686 square feet on a 0.18-acre lot (APN: 18-11-10-360-006.000-003), is zoned CB - Central Business. Originally opened in the 1920s as a Hudson dealership, and later housing Oldsmobile and Cadillac dealerships, this building boasts a rich history. The structure features two stories across two buildings, constructed in 1925, and includes a distinctive interior ramp system connecting six levels. Two overhead doors provide convenient access, while the interior offers office space complete with a terrazzo floor and a built-in vault. Currently vacant, this Class D property is offered at $125,000 ($5.76/sq ft) with a gross lease type and single tenancy. Its prime downtown Muncie location offers proximity to other redevelopment projects, making it an ideal investment for owner-users seeking a unique and versatile space. The property's size and features offer a multitude of potential uses, making it a compelling investment in a revitalizing area. This is a rare chance to acquire a piece of Muncie's history and shape its future.

• CAP approach

  CAP return

  Valuation

  6%

  $4,481,359

  6.5%

  $4,136,639

  7%

  $3,841,165

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,785,246

  Geo Method

  $6,786,824

• Alternative Use

  Use

  Valuation

  Residential

  $3,489,410

  Hospitality

  $3,196,281

  Educational

  $2,659,268

  Medical

  $2,750,724

  Retail

  $4,136,639

Location Insight

City

Muncie

County

Delaware

State

Indiana

Latitude

40.1943

Longitude

-85.385

CBSA code

34620

CBSA name

MUNCIE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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