Property profile

213 Washington St Muncie, IN 47305

OFF-MARKET
Parking lots & garages
Property ID
US31-1815812
21,686 SF 0.12 ac lot Built 1925
Entity Owned 5-yr Hold Absentee Owner Free & Clear
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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

Location

213 Washington St Muncie, IN 47305-1715
Muncie metro Census 2800 MUNCIE, IN METROPOLITAN STATISTICAL AREA
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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

since 2021
1 recorded transaction
2021
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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