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Property profile & analytics
OFF-MARKET
Estimated value
$2,145,000
Medical Office Space
200 Tillotson Ave Muncie, IN 47304-3988
Individually Owned
5-yr Hold
Free & Clear
Property ID
US31-1360450
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1987
Construction
TYPE NOT SPECIFIED
Total area
24,870 SF
Lot
2.16 ac (93,951 SF)
APN
18-11-08-382-001.000-003
UPID
US31-1360450
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cami S. Barger-Jones, MD - Riley Pediatric Primary Care - Muncie Pediatrician Medical Clinic
-
Mrs. Heather Masters Physician
-
Robert Wallace Byrn Pediatrician Medical Clinic
-
Kirk Dwight Perry Pediatrician Medical Clinic
-
Michael Welsh Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.29M
Blend (final)
Blend
$2.15M
Owner & transaction history
Indiana University Health Ball Memo · 5 yrs held
Indiana University Health Ball Memo
since 2020
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+20.9%
Auto repair, garage
$2.1M
+14.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Muncie submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Muncie submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,875,000
Current use
RESTAURANT
$2,270,000
Change: +21% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,140,000
Change: +14% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,595,000
Change: -15% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,585,000
Change: -16% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,505,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$2.15M
Range $1.93M – $2.36M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$86 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,024
Tax year 2023
Assessed value
$2,613,600
Assessed 2023
Previous assessed
$2,613,600
+0.0% YoY
Effective rate
0.12%
On assessed value
Assessed land
$845,600
Assessed improvement
$1,768,000
Land market value
$845,600
Improvement market value
$1,768,000
Total market value
$2,613,600
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1987
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Total area
24,870 SF
Lot
2.16 ac (93,951 SF)
APN
18-11-08-382-001.000-003
UPID
US31-1360450
Jurisdiction
DELAWARE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.9M
RESTAURANT
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Lot
2.16 ac
Current owner
From public records · entity-resolved
Indiana University Health Ball Memo
Individual
Free & Clear · 5 yrs held
Mailing address
2401 W UNIVERSITY AVE, MUNCIE, IN 47303-3428
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2020
—
Indiana University Health Ball Memo
Indiana University Health Ball Memo
Warranty Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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