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    Property profile & analytics

    2300 Nebo Rd Muncie, IN 47304

    • Commercial real estate
    • 295.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2318621
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2300 Nebo Rd

    Lot size
    295.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 295-acre commercial land parcel presents a unique investment opportunity in Muncie, Indiana. Strategically located at 2300 N Nebo Rd, 47304, this property boasts significant frontage on McGalliard Road, approximately 1400 feet, ensuring high visibility and accessibility. The land is zoned for commercial and multi/single-family use, offering diverse development potential. Access points are conveniently located on Nebo Road, Jackson Street, and 500 West, providing multiple entry and exit options. Existing utilities are already on-site, simplifying development plans. A particularly attractive feature is the 3.7-acre buildable tract situated at the corner of Nebo and Jackson Streets, ideal for immediate development. The asking price for this expansive property is $12,994,000. This substantial land holding offers significant potential for a variety of commercial ventures, residential projects, or a combination thereof, making it an exceptional investment in a growing Indiana market. The Delaware County location provides easy access to major transportation routes and a thriving community. This is a rare opportunity to acquire a large, versatile parcel with excellent infrastructure and zoning flexibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.46169979003
    Latitude
    40.213181581903

    Comparable in this City

    • $453,750

      Nebo Road Land For Sale

      8.25 acre commercial land available on Nebo Road.
      2910 N Nebo Rd, Muncie, IN 47304
      View Details
    • $195,000

      Land Available in Muncie, Indiana

      Land for sale at 5600 W Kilgore Ave, Muncie, IN.
      5600 W Kilgore Ave, Muncie, IN 47304
      View Details
    • $224,900

      Land Parcel For Sale

      Land parcel similar in size to Dollar General.
      6021 W Kilgore Ave, Muncie, IN 47304
      View Details
    • $140,000

      Land Available for Sale

      Land available for sale at 4801 W Bethel Ave, Muncie, IN.
      4801 W Bethel Ave, Muncie, IN 47304
      View Details
    • Contact for pricing
      0.22 Acres

      Residential Land in Muncie, IN

      Residential land available in Heritage Place, Yorktown School district.
      41 Milk House Ln, Muncie, IN 47304
      View Details
    • Contact for pricing
      0.30 Acres

      Residential Land in Muncie, IN

      Residential lot available in Heritage Place, Yorktown School district.
      53 Blacksmith Dr, Muncie, IN 47304
      View Details

    Similar Nearby for Sale

    • $195,000
      25.26 Acres

      Muncie Industrial Land Investment

      25-Acre Industrial Land, Income Producing
      5400 Kilgore Ave, Muncie, IN 47304
      View Details
    • $295,000
      0.94 Acres

      Muncie Commercial Land Opportunity

      Prime 0.94-acre commercial lot
      3401 Community Dr, Muncie, IN 47304
      View Details
    • $400,000
      1.88 Acres

      Muncie Industrial Land - $400K

      1.88-acre industrial lot, prime location.
      0 Morrison Rd, Muncie, IN 47304
      View Details
    • $540,000
      9.00 Acres

      Muncie Land: 9 Acres, $540K

      Prime Delaware County land, ideal for development.
      0 Hessler Rd And Bethel Ave, Muncie, IN 47304
      View Details
    • $49,900

      Residential Land with Pond

      5.06 acres of residential land within city limits.
      Hessler Rd, Muncie, IN 47304
      View Details
    • $1,000,000

      Commercial Land with Road Frontage

      Commercial land with frontage on McGalliard Road and access.
      3101 N Benton Rd, Muncie, IN 47304
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      1,364 SF

      Drive-Thru Restaurant Ready For Lease

      1364 SF drive-thru restaurant available for lease.
      3608 N Wheeling Ave, Muncie, IN 47304
      View Details
    • $1,088 /Mo
      1,088 SF

      Muncie Co-Work Space Available

      Co-work space available on Muncie's Northwest side.
      1714 W Royale Dr, Muncie, IN 47304
      View Details
    • $2,375 /Mo
      10,241 SF

      Muncie Retail or Office Space

      Retail or office space near Tillotson, IU Hospital, and Ball State.
      2902 W White River Blvd, Muncie, IN 47304
      View Details
    • $1,800 /Mo
      1,600 SF

      Muncie Retail Space with Drive-Thru

      1,600 SF commercial space with drive-thru in Muncie, IN.
      4801 N Wheeling Ave, Muncie, IN 47304
      View Details
    • Contact for pricing
      245,738 SF

      Northwest Plaza Retail Center

      Muncie, IN Shopping Center - Spaces Available
      1401 Mcgalliard Rd, Muncie, IN 47304
      View Details
    • Contact for pricing
      3,544 SF

      Muncie Medical Office Space For Lease

      Prime Medical Office, 3,544 SF Available
      3631 Morrison Rd, Muncie, IN 47304
      View Details
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    2300 Nebo Rd
    Muncie, IN 47304
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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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