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    Property profile & analytics
    OFF-MARKET Estimated value $570,000
    Parking lots & garages

    213 Washington St, Muncie, IN 47305-1715

    21,686 SF 0.12 ac lot Built 1925
    Entity Owned 5-yr Hold Absentee Owner Free & Clear
    Property ID
    US31-1815812
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Parking lots & garages
    Use group PARKING GARAGE, PARKING STRUCTURE
    Year built 1925
    Construction CONCRETE
    Total area 21,686 SF
    Lot 0.12 ac (5,375 SF)
    APN 18-11-10-360-006.000-003
    UPID US31-1815812
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $500k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $638k
    Blend (final) Blend
    $570k
    Owner & transaction history
    Myers Performance Engineering LLC · 5 yrs held
    Myers Performance Engineering LLC
    since 2021
    1 recorded transaction
    2021
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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