Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3224 Meeker Ave Muncie, IN 47302
    Property profile & analytics

    3224 Meeker Ave Muncie, IN 47302

    View on Map
    • Industrial properties
    • 520 SF
    • 3.88 lot acres
    Off-Market
    Property ID
    US31-2257719
    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

    • Industrial properties

    Property Details for 3224 Meeker Ave

    Year built
    1994
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.88 lot acres
    Property size
    520 SF
    Property type
    Industrial properties
    APN
    18-11-23-451-037.000-003
    APU
    181123451037000003

    Description

    This exceptional 3.88-acre parcel of land, located at 3224 S Meeker Ave in Muncie, Indiana (zip code 47302), presents a unique opportunity for industrial development. Currently zoned for industrial use, this property boasts a significant advantage: a large portion of the site is already covered with concrete or asphalt, minimizing site preparation costs. The property's history as the former Duffy Tool and Stamping site provides a solid foundation for various industrial applications. The seller is actively completing environmental remediation in collaboration with the Indiana Department of Environmental Management (IDEM), ensuring a clean and compliant site for future development. This property is ideal for businesses seeking a ready-to-develop industrial space in a convenient Muncie location. Note that this is a separate sale from two adjacent parcels (a 6.6-acre intensely zoned industrial parcel and a 1.3-acre R2 zoned parcel) also available for purchase by the same owner. Each parcel can be purchased individually or as a package, subject to availability. The asking price for this specific 3.88-acre lot is $97,000.

    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
    -85.3572
    Latitude
    40.1646
    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
    $5,972
    $16,900
    $3,500
    $20,400
    -
    $16,900
    $3,500
    $20,400

    Comparable in this City

    • Value Estimation by Request
      350,000 SF

      1210 Seymour St

      Distribution properties • 350,000 SF
      1210 Seymour St, Muncie, IN 47302
      View Details
    • Value Estimation by Request
      0.12 Acres

      600 Blk S Grant St

      INDUSTRIAL (GENERAL) • 0.12 Acres
      600 Blk S Grant St, Muncie, IN 47302
      View Details
    • Value Estimation by Request
      0.14 Acres

      900 Blk W 5th St

      INDUSTRIAL (GENERAL) • 0.14 Acres
      900 Blk W 5th St, Muncie, IN 47302
      View Details
    • Value Estimation by Request
      0.19 Acres

      1100 Adj E Kirby Ave

      INDUSTRIAL (GENERAL) • 0.19 Acres
      1100 Adj E Kirby Ave, Muncie, IN 47302
      View Details
    • Value Estimation by Request
      276 SF

      1905 Memorial Dr

      INDUSTRIAL (GENERAL) • 276 SF
      1905 Memorial Dr, Muncie, IN 47302-4408
      View Details
    • Value Estimation by Request
      0.19 Acres

      1100 Adj E Kirby Ave

      INDUSTRIAL (GENERAL) • 0.19 Acres
      1100 Adj E Kirby Ave, Muncie, IN 47302
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      224,000 SF

      Muncie Industrial Facility For Sale

      224,000 SF industrial facility with strategic Midwest distribution access.
      1401 E Memorial Dr, Muncie, IN 47302
      View Details
    • Contact for pricing
      21,818 SF

      Versatile Industrial Building with Flex-Star Roof

      Industrial building with warehouse, shop, and office spaces available.
      703 W 13Th St, Muncie, IN 47302
      View Details
    • Contact for pricing
      21,818 SF

      Warehouse with Fenced Lot

      Warehouse/shop with office, fenced lot, and drive-in doors.
      703 W 13Th St, Muncie, IN 47302
      View Details
    • $579,000
      19,800 SF

      Muncie Industrial Multi-Tenant Property

      Multi-tenant industrial property with recent upgrades and flexible space.
      2401 S Monroe St, Muncie, IN 47302
      View Details
    • Contact for pricing
      15,209 SF

      Muncie Warehouse with Refrigerated Areas

      Warehouse with refrigerated areas, currently used for ice storage.
      800 W 17Th St, Muncie, IN 47302
      View Details
    • Contact for pricing
      3,671 SF

      Flex R&D Space Available

      Flex R&D space for sale at 909 S Hoyt Ave.
      909 S Hoyt Ave, Muncie, IN 47302
      View Details

    Similar Nearby for Lease

    • $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
      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
    • 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
    • $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
    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.
    3224 Meeker Ave
    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
    3224 Meeker Ave, 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!