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Property profile & analytics
OFF-MARKET
Retail space
413 Tillotson Ave Muncie, IN 47304-4389
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-1743219
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1966
Construction
WOOD
Total area
16,740 SF
Lot
0.75 ac (32,550 SF)
APN
18-11-17-105-012.000-003
UPID
US31-1743219
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
-
Little Red Door Cancer Agency - Muncie Charitable Organization Social Service Agency
-
Wagglebottoms Pet Grooming Service
-
Adore Hair Salon Nail Salon
-
Renewed Designs Clothing & Fashion Store
-
Shin Gi Tai Shotokan Karate-do Training Center Sports School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Four One Three LLC · 4 yrs held
Four One Three LLC
since 2022
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$12,744
Tax year 2023
Assessed value
$385,200
Assessed 2023
Previous assessed
$385,200
+0.0% YoY
Effective rate
3.31%
On assessed value
Assessed land
$227,900
Assessed improvement
$157,300
Land market value
$227,900
Improvement market value
$157,300
Total market value
$385,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1966
Construction
WOOD
Heating
NONE
Stories
2
Total area
16,740 SF
Lot
0.75 ac (32,550 SF)
APN
18-11-17-105-012.000-003
UPID
US31-1743219
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
Building & site characteristics
From public records
Year built
1966
Construction
WOOD
Heating
NONE
Stories
2
Lot
0.75 ac
Current owner
From public records · entity-resolved
Four One Three LLC
Entity
Mailing address
2200 W MCGALLIARD RD, MUNCIE, IN 47304-2188
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2023
—
Four One Three LLC
—
Deed
related
$595,000 · Northwest Bank
Aug 2, 2022
—
Four One Three LLC
—
Deed
related
$150,000 · First Merchants Bank NA
Jun 16, 2022
—
Four One Three LLC
Red Bird Investment Group LLC
Quit Claim Deed
related
—
Jun 8, 2022
$334,255
Red Bird Investment Group LLC
Delaware County Sheriff
Sheriffs Deed
related
—
Jan 24, 2017
—
Clark Vantassel
—
Deed
related
$178,300 · Mary Hauser
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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