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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Medical Office Space
401 Mcgalliard Rd Muncie, IN 47303-1828
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US31-2096505
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Construction
WOOD
Total area
8,256 SF
Lot
2.22 ac (96,703 SF)
APN
18-11-04-276-021.000-003
UPID
US31-2096505
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
-
Dr. Drew M. Anderson, MD Physician Medical Clinic
-
Deborah S. Kuhlman (MD) Physician Medical Clinic
-
Dr. Steve Bekas Physician Medical Clinic
-
Marsh Terry W MD Physician Medical Clinic
-
Lifetime Skin Care Centers Medical Clinic Skin Care Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$450k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$633k
Blend (final)
Blend
$540k
Owner & transaction history
Lifetime Property Investments · 7 yrs held
Lifetime Property Investments
since 2018
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$750,000
+62.0%
Commercial (general)
$725,000
+57.3%
Retail stores
$700,000
+51.4%
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
$450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$460,000
Current use
RESTAURANT
$750,000
Change: +62% · Conversion: Difficult
COMMERCIAL (GENERAL)
$725,000
Change: +57% · Conversion: Easy
RETAIL STORES
$700,000
Change: +51% · Conversion: Difficult
AUTO REPAIR, GARAGE
$655,000
Change: +41% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$600,000
Change: +30% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$500,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$65 / 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
$32,725
Tax year 2023
Assessed value
$1,029,300
Assessed 2023
Previous assessed
$1,029,300
+0.0% YoY
Effective rate
3.18%
On assessed value
Assessed land
$394,800
Assessed improvement
$634,500
Land market value
$394,800
Improvement market value
$634,500
Total market value
$1,029,300
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1986
Construction
WOOD
Heating
NONE
Buildings
2
Stories
2
Total area
8,256 SF
Lot
2.22 ac (96,703 SF)
APN
18-11-04-276-021.000-003
UPID
US31-2096505
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
MEDICAL BUILDING Current
Est. value
$460,000
RESTAURANT
Est. value
$750,000
COMMERCIAL (GENERAL)
Est. value
$725,000
RETAIL STORES
Est. value
$700,000
AUTO REPAIR, GARAGE
Est. value
$655,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$600,000
INDUSTRIAL (GENERAL)
Est. value
$500,000
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
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
1986
Construction
WOOD
Heating
NONE
Stories
2
Buildings
2
Lot
2.22 ac
Current owner
From public records · entity-resolved
Lifetime Property Investments
Entity
Mailing address
401 W MCGALLIARD RD, MUNCIE, IN 47303-1828
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2018
—
Lifetime Property Investments
Tml Enterprises LLC
Warranty Deed
$916,000 · First Merchants Bank NA
Aug 29, 2006
—
Tml Enterprises LLC
The Pep Boy Manny
Special Warranty Deed
$800,000 · Old National Bank
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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