Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2400 Blk S Gharkey St Muncie, IN 47302
    Property profile & analytics

    2400 Blk S Gharkey St Muncie, IN 47302

    View on Map
    • Commercial land
    • 4.73 lot acres
    Off-Market
    Property ID
    US31-1506617
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Envirosonics Disposal Inc / Corporate Office
    • Bahrami Auto Sales and Repair Center / Auto Repair Shop

    Property Details for 2400 Blk S Gharkey St

    Lot size
    4.73 lot acres
    Property type
    Commercial land
    APN
    18-11-21-254-007.000-003
    APU
    181121254007000003

    Description

    This exceptional 23.09-acre parcel presents a significant opportunity for industrial development or investment. Strategically located on the southwest side of Muncie, Indiana, this property boasts a highly desirable Industrial zoning designation, allowing for a wide range of commercial and industrial uses. The expansive lot size offers ample space for large-scale projects, providing flexibility for various development plans. The property's secure, fenced perimeter enhances security and provides peace of mind. Situated in Delaware County, Indiana, with a Muncie, IN 47302 zip code, this location offers convenient access to major transportation routes, facilitating efficient logistics and distribution. The asking price for this substantial land holding is $310,000. Given its size, zoning, and location, this property represents a compelling investment opportunity for businesses seeking to establish or expand their operations in a thriving industrial area. Detailed site plans and further information are available upon request. Don't miss this chance to acquire a prime piece of industrial real estate in a rapidly growing market. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.393
    Latitude
    40.1724
    CBSA code
    34620
    CBSA name
    MUNCIE, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $46
    $1,800
    $0.00
    $1,800
    -
    $1,800
    $0.00
    $1,800

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      9770 County Rd 300th W

      VACANT COMMERCIAL LAND • 0.07 Acres
      9770 County Rd 300th W, Muncie, IN 47302-8920
      View Details
    • Value Estimation by Request
      8.83 Acres

      4500 Blk S Eaton Ave

      VACANT COMMERCIAL LAND • 8.83 Acres
      4500 Blk S Eaton Ave, Muncie, IN 47302
      View Details
    • Value Estimation by Request
      0.04 Acres

      2200 Blk S Elm St

      VACANT COMMERCIAL LAND • 0.04 Acres
      2200 Blk S Elm St, Muncie, IN 47302
      View Details
    • Value Estimation by Request
      0.20 Acres

      1611 Hoyt Ave

      VACANT COMMERCIAL LAND • 0.20 Acres
      1611 Hoyt Ave, Muncie, IN 47302-3153
      View Details
    • Value Estimation by Request
      1.55 Acres

      2600 Blk S Hoyt Ave

      VACANT COMMERCIAL LAND • 1.55 Acres
      2600 Blk S Hoyt Ave, Muncie, IN 47302
      View Details
    • Value Estimation by Request
      0.22 Acres

      3700 Blk S Meeker Ave 3800th S

      VACANT COMMERCIAL LAND • 0.22 Acres
      3700 Blk S Meeker Ave 3800th S, Muncie, IN 47302
      View Details

    Similar Nearby for Sale

    • $760,000

      Development Property Near Walmart

      Land available across from Walmart Supercenter, Muncie, Indiana.
      2400 E 29Th St, Muncie, IN 47302
      View Details
    • $350,000

      1.46 Acres Development Ground

      1.46 acres of development ground with easement.
      2900 N Walnut St, Muncie, IN 47302
      View Details
    • $119,900

      Commercial Land on Meeker Avenue

      Commercial land available for sale on South Meeker Avenue.
      1415 S Meeker Ave, Muncie, IN 47302
      View Details
    • Contact for pricing
      0.15 Acres

      Residential Land in Muncie, IN

      Vacant city lot available for residential use.
      1800 E 23Rd St, Muncie, IN 47302
      View Details
    • Contact for pricing
      0.14 Acres

      Residential Land with Garage, Shed

      Fenced lot with garage and shed in Muncie, Indiana.
      1403 S Shipley St, Muncie, IN 47302
      View Details
    • Contact for pricing
      0.35 Acres

      Residential Land in Muncie, IN

      Vacant corner lot available in Muncie, Indiana.
      500 S Whitney Rd, Muncie, IN 47302
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Retail Space in Walmart Shadow

      1,200 SF retail space available for lease.
      3600 S Chandler Dr, Muncie, IN 47302
      View Details
    • $4 SF/Yr
      31,000 SF

      Retail Space in Muncie, Indiana

      Retail space available for rent in Muncie, Indiana.
      2006 Walnut St N Walnut, Muncie, IN 47302
      View Details
    • $2,000 /Mo
      19,800 SF

      Muncie Industrial Space Available

      Industrial space available for lease in Muncie, Indiana.
      2401 S Monroe St, Muncie, IN 47302
      View Details
    • Contact for pricing

      Retail Space in Shoppes at Southside

      Retail spaces available in established shopping center.
      3600 S Chandler Dr, Muncie, IN 47302
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2400 Blk S Gharkey St
    Muncie, IN 47302
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2400 Blk S Gharkey St, Muncie, IN, 47302
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!