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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Hotels
4500 Bethel Ave Muncie, IN 47304-5504
Entity Owned
4-yr Hold
Free & Clear
Property ID
US31-1847022
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2000
Construction
WOOD
Total area
5,177 SF
Lot
12 ac (522,720 SF)
APN
18-07-31-326-006.000-030
UPID
US31-1847022
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
-
University Village Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$510k
Comparable Approach
Comparable
$526k
Blend (final)
Blend
$515k
Owner & transaction history
Flt Muncie Flte LLC · 4 yrs held
Flt Muncie Flte LLC
since 2022
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$470,000
+82.1%
Auto repair, garage
$445,000
+71.7%
Medical building
$390,000
+50.7%
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%
$550,000
6.5%
$510,000
7%
$470,000
Alternative Use
Use
Estimation
RESTAURANT
$470,000
Change: +82% · Conversion: Difficult
AUTO REPAIR, GARAGE
$445,000
Change: +72% · Conversion: Difficult
MEDICAL BUILDING
$390,000
Change: +51% · Conversion: Difficult
COMMERCIAL (GENERAL)
$330,000
Change: +28% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$330,000
Change: +27% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$315,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$99 / 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
$268,674
Tax year 2023
Assessed value
$12,714,900
Assessed 2023
Previous assessed
$12,714,900
+0.0% YoY
Effective rate
2.11%
On assessed value
Assessed land
$914,800
Assessed improvement
$11,800,100
Land market value
$914,800
Improvement market value
$11,800,100
Total market value
$12,714,900
Applied tax rate
30.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2000
Construction
WOOD
Heating
NONE
Buildings
14
Stories
1
Total area
5,177 SF
Lot
12 ac (522,720 SF)
APN
18-07-31-326-006.000-030
UPID
US31-1847022
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
RESTAURANT
Est. value
$470,000
AUTO REPAIR, GARAGE
Est. value
$445,000
MEDICAL BUILDING
Est. value
$390,000
COMMERCIAL (GENERAL)
Est. value
$330,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$330,000
INDUSTRIAL (GENERAL)
Est. value
$315,000
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2000
Construction
WOOD
Heating
NONE
Stories
1
Buildings
14
Lot
12 ac
Current owner
From public records · entity-resolved
Flt Muncie Flte LLC
Entity
Free & Clear · 4 yrs held
Mailing address
6191 N STATE HWY 161, IRVING, TX 75038-2246
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 15, 2022
—
Flt Muncie Flte LLC
Argo Woodlark II LLC
Limited Warranty Deed
—
Jun 23, 2020
—
4500 West Bethel Avenue LLC
Argo Woodlark II LLC
Quit Claim Deed
related
—
Nov 4, 2013
—
Woodlark II LLC
Ue Muncie LLC
Warranty Deed
—
Jan 8, 2009
—
Ue Muncie LLC
Donald A Shapiro
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.
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