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Property profile & analytics
OFF-MARKET
Estimated value
$1,320,000
Outlet malls
2724 Memorial Dr, Muncie, IN 47302-4780
Entity Owned
12-yr Hold
Free & Clear
Property ID
US31-1878916
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2008
Construction
TYPE NOT SPECIFIED
Total area
8,995 SF
Lot
1 ac (43,560 SF)
APN
18-11-14-455-044.000-003
UPID
US31-1878916
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$1.32M
Owner & transaction history
Realty Income Properties 30 · 12 yrs held
Realty Income Properties 30
since 2014
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$990,000
+11.6%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$890,000
Current use
AUTO REPAIR, GARAGE
$990,000
Change: +12% · Conversion: Difficult
RESTAURANT
$865,000
Change: -3% · Conversion: Easy
COMMERCIAL (GENERAL)
$830,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$1.32M
Range $1.19M – $1.45M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$147 / 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
$17,799
Tax year 2023
Assessed value
$553,700
Assessed 2023
Previous assessed
$553,700
+0.0% YoY
Effective rate
3.21%
On assessed value
Assessed land
$35,300
Assessed improvement
$518,400
Land market value
$35,300
Improvement market value
$518,400
Total market value
$553,700
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2008
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
8,995 SF
Lot
1 ac (43,560 SF)
APN
18-11-14-455-044.000-003
UPID
US31-1878916
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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$890,000
AUTO REPAIR, GARAGE
Est. value
$990,000
RESTAURANT
Est. value
$865,000
COMMERCIAL (GENERAL)
Est. value
$830,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
1 ac
Current owner
From public records · entity-resolved
Realty Income Properties 30
Entity
Free & Clear · 12 yrs held
Mailing address
11995 EL CAMINO REAL #101, SAN DIEGO, CA 92130-2539
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 4, 2014
—
Realty Income Properties 30
Retail Properties Investments
Warranty Deed
—
Oct 1, 2012
—
Retail Property Investments LLC
Muncie Memorial Dg LLC
Correction Deed
related
—
May 26, 2011
—
Retail Property Investments LLC
Muncie Memorial Dg Llcc
Warranty Deed
—
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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