Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4100 Morrison Rd Muncie, IN 47304-6043
    Back to Search
    Property profile & analytics

    4100 Morrison Rd, Muncie, IN 47304-6043

    View on Map
    • Assisted living facilities
    • 22,917 SF
    • 7.32 lot acres
    Off-Market
    Last Sale Dec 15, 2023
    Property ID
    US31-1985014
    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
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Morrison Woods Health Campus / Nursing Home / Retirement Community

    Property Details for 4100 Morrison Rd

    Year built
    2008
    Construction
    WOOD
    Lot size
    7.32 lot acres
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    18-07-31-100-009.000-030
    APU
    180731100009000030

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 15, 2023 — Trilogy Real Estate Muncie LLC Trilogy Healthcare Of Muncie LLC Quit Claim Deed · related —
    Sep 11, 2019 — Trilogy Healthcare Of Muncie — Deed · related $325k · Key Bank NA
    Nov 28, 2011 — Trilogy Healthcare Of Muncie LLC G & L Partnership LP Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $525,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $558,000
      Market price range: $430k - $559k

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $505,000
      Current use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.441
    Latitude
    40.2269
    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
    $155,290
    $834,200
    $6,638,400
    $7,472,600
    -
    $834,200
    $6,638,400
    $7,472,600

    Comparable in this City

    • Value Estimation by Request
      0.92 Acres

      Muncie, IN 47304

      HOMES (RETIRED, NURSING)
      Muncie, IN 47304
      View Details
    • Value Estimation by Request
      5.66 Acres

      Muncie, IN 47304

      HOMES (RETIRED, NURSING)
      Muncie, IN 47304
      View Details
    • Value Estimation
      $875,000
      39,359 SF

      3400 Community Dr

      HOMES (RETIRED, NURSING)
      3400 Community Dr, Muncie, IN 47304-5459
      View Details
    • Value Estimation
      $860,000
      35,356 SF

      1600 Morrison Rd

      HOMES (RETIRED, NURSING)
      1600 Morrison Rd, Muncie, IN 47304-5338
      View Details
    • Value Estimation by Request
      3,686 SF

      2500 Kilgore Ave

      HOMES (RETIRED, NURSING)
      2500 Kilgore Ave, Muncie, IN 47304-4802
      View Details
    • Value Estimation by Request

      3320 Community Dr

      HOMES (RETIRED, NURSING)
      3320 Community Dr, Muncie, IN 47304-5457
      View Details

    Similar Nearby for Sale

    • $300,000
      0.95 Acres

      Commercial Land Near Morrison Road

      0.95 acre commercial land in Muncie, Indiana for sale.
      W Hessler Rd, Muncie, IN 47304
      View Details
    • $30,900
      0.30 Acres

      Residential Land in Muncie, Indiana

      Residential lot available in Heritage Place, Yorktown School district.
      53 Blacksmith Dr, Muncie, IN 47304
      View Details
    • $395,000

      Commercial Building with Drive-Thru

      Versatile 1,600 SQFT building suitable for retail, office, or food service.
      4801 N Wheeling Ave, Muncie, IN 47304
      View Details
    • Contact for pricing
      12,600 SF

      Versatile Commercial Space for Sale

      12,600 SF commercial building suitable for medical, retail, office.
      1107 S Tillotson Ave, Muncie, IN 47304
      View Details
    • Contact for pricing

      Land Available in Muncie, Indiana

      Land for sale at 5600 W Kilgore Ave, Muncie, IN.
      5600 W Kilgore Ave, Muncie, IN 47304
      View Details
    • Contact for pricing

      Land Available for Sale

      Land available for sale at 4801 W Bethel Ave, Muncie, IN.
      4801 W Bethel Ave, Muncie, IN 47304
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,760 SF

      Renovated Commercial Space, Open Layout

      Versatile, move-in-ready space suitable for various businesses.
      4611 N Wheeling Ave, Muncie, IN 47304
      View Details
    • $17 SF/Yr
      2,106 SF

      Muncie Office on McGalliard Road

      Professional office space on high-traffic corridor, suitable for medical/retail.
      2106 W Mcgalliard Rd, Muncie, IN 47304
      View Details
    • $11 SF/Yr
      6,300 SF

      Muncie Office Space: 1,000 SF Available

      Prime Muncie location, modern office, NNN lease.
      3621 Everbrook Ln, Muncie, IN 47304
      View Details
    • Contact for pricing
      1,400 SF

      Muncie Office Space For Rent

      Office space featuring six to seven offices plus break room.
      3500 W Fox Ridge Ln, Muncie, IN 47304
      View Details
    • Contact for pricing
      37,684 SF

      Retail Space in Muncie Corridor

      Retail space with high visibility and strong co-tenancy.
      1801 W Mcgalliard Rd, Muncie, IN 47304
      View Details
    • Contact for pricing
      8,200 SF

      Retail Space in Muncie Corridor

      Retail space for lease in high-traffic Muncie location.
      1401-1629 W Mcgalliard Rd, Muncie, IN 47304
      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.
    4100 Morrison Rd
    Muncie, IN 47304-6043
    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
    4100 Morrison Rd, Muncie, IN, 47304
    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!