Property profile

109 Main St Muncie, IN 47305

OFF-MARKET
Residential income homes
Property ID
US31-1951977
4,992 SF 0.05 ac lot Built 1927
Entity Owned
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Property summary

AI-generated overview

A completely remodeled mixed-use property in downtown Muncie (Muncie’s River District) containing a ground-floor retail/salon space and an upstairs apartment. The main level includes a retail area with custom built-ins, ADA-accessible restroom, kitchenette, two private office spaces, storage closets, and a layout designed for independent access to the upper apartment via a closed-off staircase. The upstairs apartment is designed with Richard’s Kitchen & Bath features, including Mouser cabinetry, quartz countertops, and GE Café appliances, and includes 14-foot vaulted ceilings, a loft space, custom closet systems, and a spa-like bathroom with laundry. The property includes a basement with poured walls and was updated with new plumbing, electrical, roof, windows, two furnaces with AC units, a water heater, and Nest camera systems. The package includes a parking lot associated with 113 E Main Street, and an adjacent building at 107 E Main Street (formerly The Mark III Tap Room) that retains its original wood bar, includes an upstairs office, and has Phase 3 electrical for potential future redevelopment. The property’s ground-floor configuration supports ADA access, and the River District location is reported to make it eligible for a three-way liquor license from the city.

Property profile

Verified
Property type Residential income homes
Use group APARTMENT HOUSE (UNDER 5 UNITS)
Year built 1927
Construction WOOD
Total area 4,992 SF
Lot 0.05 ac (2,000 SF)
APN 18-11-10-363-003.000-003
UPID US31-1951977

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

109 Main St Muncie, IN 47305-2817
Muncie metro Census 2800 MUNCIE, IN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$240k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$235k

Owner & transaction history

since 2025
7 recorded transactions
2025
Price N/A
2018
Price N/A
2017
Price N/A
2017
$58,000
2012
$58,000
2012
Price N/A
2011
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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