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    1908 E Mcgalliard Rd Muncie, IN 47303
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    1908 E Mcgalliard Rd Muncie, IN 47303

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    • Commercial land
    For Sale
    $99,900
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    Development Site on Retail Artery For Sale
    $99,900

    Development Site on Retail Artery

    Small development site suitable for retail or office use.

    1908 E McGalliard, Muncie, IN 47303
    View Listing
    Property ID
    US31-2132332
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 1908 E Mcgalliard Rd

    Property type
    Commercial land
    Property subtype
    Retail properties & Spaces

    Description

    Small development site on busy retail artery. Potential for retail or office.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.3650136
    Latitude
    40.2193103

    Comparable in this City

    • Contact for pricing

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      Established Muncie Restaurant and Bar

      Turn-key restaurant and bar opportunity with real estate included.
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      McGalliard Road Retail Opportunity

      0.75 acre lot with billboard income and redevelopment potential.
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      Prime Commercial Land Opportunity

      Corner location near new developments with high traffic count.
      602-604 W Mcgalliard Rd, Muncie, IN 47303
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    • $399,000
      4.91 Acres

      Prime Commercial Land Opportunity

      4.91-acre commercial land parcel with road frontage in Muncie, IN.
      2900 N Walnut St, Muncie, IN 47303
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    Similar Nearby for Sale

    • Contact for pricing

      North Muncie Office Suite

      Professional office suite in a peaceful, accessible location.
      1600 W Riggin Rd, Muncie, IN 47303
      View Details
    • $359,900
      0.35 Acres

      Established Muncie Restaurant and Bar

      Turn-key restaurant and bar opportunity with real estate included.
      3823 N Broadway Ave, Muncie, IN 47303
      View Details
    • $450,000
      0.75 Acres

      McGalliard Road Retail Opportunity

      0.75 acre lot with billboard income and redevelopment potential.
      705 E Mcgalliard Rd, Muncie, IN 47303
      View Details
    • $985,000

      Prime Commercial Land Opportunity

      Corner location near new developments with high traffic count.
      602-604 W Mcgalliard Rd, Muncie, IN 47303
      View Details
    • $399,000
      4.91 Acres

      Prime Commercial Land Opportunity

      4.91-acre commercial land parcel with road frontage in Muncie, IN.
      2900 N Walnut St, Muncie, IN 47303
      View Details

    Similar Nearby for Lease

    • $40 SF/Yr
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      Restaurant Space with Drive-Thru

      First-class restaurant space with drive-thru, built in 2019.
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      Nebo Commons Commercial Development Land

      32.05 acre commercial development land in Muncie, Indiana.
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      Muncie Warehouse Flex Space Available

      Warehouse flex space with office in a great Muncie location.
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    • $12 SF/Yr
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      Office Space on Riggin Road

      Office space for lease with restrooms to be constructed.
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    • $9 SF/Yr
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      Modern Flex Building with Amenities

      Well-maintained flex building with ample parking and modern amenities.
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    View Listing
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    Muncie, IN 47303
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    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
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    1908 E Mcgalliard Rd, Muncie, IN, 47303
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