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Property profile & analytics
OFF-MARKET
Estimated value
$1,395,000
Outlet malls
2812 Jackson St, Muncie, IN 47303-5105
Entity Owned
6-yr Hold
Free & Clear
Property ID
US31-1776523
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2020
Construction
TYPE NOT SPECIFIED
Total area
9,230 SF
Lot
2.16 ac (93,959 SF)
APN
18-11-11-464-005.000-003
UPID
US31-1776523
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
$1.62M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.40M
Owner & transaction history
Dart Development LLC · 6 yrs held
Dart Development LLC
since 2020
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$835,000
+7.0%
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
$1,530,000
ML approach
$1,620,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$835,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$1.40M
Range $1.26M – $1.53M · ±10% · vs last sale $1.32M (Apr 13 2020)
Last sale anchor
$1.32M
Apr 13 2020
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
$151 / 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
$23,952
Tax year 2023
Assessed value
$758,800
Assessed 2023
Previous assessed
$758,800
+0.0% YoY
Effective rate
3.16%
On assessed value
Assessed land
$108,100
Assessed improvement
$650,700
Land market value
$108,100
Improvement market value
$650,700
Total market value
$758,800
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
2020
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
9,230 SF
Lot
2.16 ac (93,959 SF)
APN
18-11-11-464-005.000-003
UPID
US31-1776523
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
RESTAURANT
Est. value
$835,000
RESTAURANT
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
2020
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
2.16 ac
Current owner
From public records · entity-resolved
Dart Development LLC
Entity
Free & Clear · 6 yrs held
Mailing address
4033 BELAIR LN, NAPLES, FL 34103-3571
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2020
$1,322,189
Dart Development LLC
Muncie E Jackson Street Partners Ll
Limited Warranty Deed
—
Aug 27, 2019
—
Muncie E Jackson Street Partne
Nadine M Schmidt
Warranty Deed
—
Mar 14, 2019
—
Nadine M Schmidt
Andrew T Schmidt
Intrafamily Transfer
related
—
Jun 29, 2009
—
Nadine M Schmidt
Nadine M Schmidt
Intrafamily Transfer
related
—
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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