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Property profile & analytics
FOR LEASE
Grocery and convenience stores
2006 Walnut St N Walnut Muncie, IN 47303
Entity Owned
Absentee Owner
Free & Clear
Property ID
US31-1548144
For Lease
1 / 2
$1,075,000
2006 Walnut St N Walnut, Muncie, IN 47303
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Property summary
AI-generated overview
This exceptional 47,344 square foot former Marsh Supermarket, located at 2006 N Walnut St in Muncie, Indiana, presents a unique opportunity for a variety of commercial ventures. Situated on an expansive 8.2-acre lot, the single-story building boasts significant potential for redevelopment. Currently zoned II - Intense Industrial (APN: 18-11-03-351-005.000-003), this property offers flexibility for diverse uses. A substantial 31,000 square feet of space is currently vacant, providing ample room for customization. The existing infrastructure includes four loading docks, along with walk-in coolers and freezers, which could be repurposed or removed. Additional square footage is available in a mezzanine space
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1947
Construction
TYPE NOT SPECIFIED
Total area
47,344 SF
Lot
8.26 ac (359,980 SF)
APN
18-11-03-351-005.000-003
UPID
US31-1548144
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
-
Steve's barber shop muncie Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.08M
Owner & transaction history
WISE FOOD COMPANY INC · 2 yrs held
WISE FOOD COMPANY INC
since 2024
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$23 / 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
$22,576
Tax year 2023
Assessed value
$482,200
Assessed 2023
Previous assessed
$482,200
+0.0% YoY
Effective rate
4.68%
On assessed value
Assessed land
$209,700
Assessed improvement
$272,500
Land market value
$209,700
Improvement market value
$272,500
Total market value
$482,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
1947
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
1
Total area
47,344 SF
Lot
8.26 ac (359,980 SF)
APN
18-11-03-351-005.000-003
UPID
US31-1548144
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
Building & site characteristics
From public records
Year built
1947
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
2
Lot
8.26 ac
Current owner
From public records · entity-resolved
WISE FOOD COMPANY INC
Entity
Free & Clear · 2 yrs held
Mailing address
908 W CROMER AVE, MUNCIE, IN 47303
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Oct 3, 2024
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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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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