New search
Property profile & analytics
OFF-MARKET
Estimated value
$6,290,000
Parking lots & garages
412 Martin St, Muncie, IN 47303-3535
Entity Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-3038375
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2015
Construction
CONCRETE
Total area
107,320 SF
Lot
0.48 ac (20,909 SF)
APN
18-11-09-309-016.000-003
UPID
US31-3038375
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.29M
Owner & transaction history
Delaware Advancement Corp · 12 yrs held
Delaware Advancement Corp
since 2013
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.7M
+28.8%
Commercial (general)
$9.5M
+25.1%
Retail stores
$9.1M
+20.4%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$7,555,000
Current use
RESTAURANT
$9,735,000
Change: +29% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,455,000
Change: +25% · Conversion: Difficult
RETAIL STORES
$9,095,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,500,000
Change: +12% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$7,830,000
Change: +4% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,505,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$6.29M
Range $5.66M – $6.92M · ±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
$59 / 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
$274,858
Tax year 2023
Assessed value
$6,039,500
Assessed 2023
Previous assessed
$6,039,500
+0.0% YoY
Effective rate
4.55%
On assessed value
Assessed land
$575,000
Assessed improvement
$5,464,500
Land market value
$575,000
Improvement market value
$5,464,500
Total market value
$6,039,500
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
2015
Construction
CONCRETE
Heating
NONE
Stories
5
Total area
107,320 SF
Lot
0.48 ac (20,909 SF)
APN
18-11-09-309-016.000-003
UPID
US31-3038375
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
PARKING LOT Current
Est. value
$7.6M
RESTAURANT
Est. value
$9.7M
COMMERCIAL (GENERAL)
Est. value
$9.5M
RETAIL STORES
Est. value
$9.1M
AUTO REPAIR, GARAGE
Est. value
$8.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.8M
INDUSTRIAL (GENERAL)
Est. value
$6.5M
PARKING LOT 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
2015
Construction
CONCRETE
Heating
NONE
Stories
5
Lot
0.48 ac
Current owner
From public records · entity-resolved
Delaware Advancement Corp
Entity
Free & Clear · 12 yrs held
Mailing address
401 S HIGH ST, MUNCIE, IN 47305-2300
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2013
—
Delaware Advancement Corp
Cardinal Square LLC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 412 Martin St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
