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Property profile & analytics
OFF-MARKET
Estimated value
$1,720,000
Hotels
3015 Oakwood Ave Muncie, IN 47304-2268
Entity Owned
Free & Clear
Property ID
US31-2860553
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2013
Construction
WOOD
Total area
17,240 SF
Lot
10.56 ac (459,994 SF)
APN
18-11-05-276-015.000-003
UPID
US31-2860553
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
Current use
Occupant on record · Public records
-
Yugo Muncie Varsity House Apartment Building Condominium Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.69M
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$1.72M
Owner & transaction history
Varsity House Muncie In LLC
Varsity House Muncie In LLC
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.6M
+82.1%
Auto repair, garage
$1.5M
+71.7%
Medical building
$1.3M
+50.7%
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%
$1,830,000
6.5%
$1,690,000
7%
$1,570,000
Alternative Use
Use
Estimation
RESTAURANT
$1,575,000
Change: +82% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,485,000
Change: +72% · Conversion: Difficult
MEDICAL BUILDING
$1,300,000
Change: +51% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,105,000
Change: +28% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,100,000
Change: +27% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,045,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$1.72M
Range $1.55M – $1.89M · ±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
$100 / 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
$369,065
Tax year 2023
Assessed value
$17,734,500
Assessed 2023
Previous assessed
$17,734,500
+0.0% YoY
Effective rate
2.08%
On assessed value
Assessed land
$3,312,000
Assessed improvement
$14,422,500
Land market value
$3,312,000
Improvement market value
$14,422,500
Total market value
$17,734,500
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2013
Construction
WOOD
Heating
NONE
Buildings
11
Stories
3
Total area
17,240 SF
Lot
10.56 ac (459,994 SF)
APN
18-11-05-276-015.000-003
UPID
US31-2860553
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
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (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
2013
Construction
WOOD
Heating
NONE
Stories
3
Buildings
11
Lot
10.56 ac
Current owner
From public records · entity-resolved
Varsity House Muncie In LLC
Entity
Free & Clear · 0 yrs held
Mailing address
50 S STEELE ST, DENVER, CO 80209-2805
Ownership since
2025
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
Nov 24, 2025
—
Varsity House Muncie In LLC
Varsity House Propco LLC
Warranty Deed
—
Jan 26, 2022
—
Varsity House Propco LLC
Campus Crest At Muncie LLC
Special Warranty Deed
$375,000,000 · Wells Fargo Bank
Jul 18, 2012
—
Campus Crest At Muncie LLC
Bradburn Realty LP
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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