Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,670,000
Manufacturing properties
4601 Superior Dr Muncie, IN 47303-6430
Entity Owned
7-yr Hold
Free & Clear
Property ID
US31-1360651
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1981
Construction
WOOD
Total area
26,600 SF
Lot
6.54 ac (284,882 SF)
APN
18-07-33-201-004.000-003
UPID
US31-1360651
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
-
Injection Molding & Tooling Factory Production Facility
-
Tomken Plastic Technologies Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.30M
Blend (final)
Blend
$2.67M
Owner & transaction history
Bruce & Randi Carmichael LLC · 7 yrs held
Bruce & Randi Carmichael LLC
since 2018
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+49.6%
Commercial (general)
$2.3M
+45.4%
Retail stores
$2.3M
+39.8%
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
INDUSTRIAL (GENERAL)
$1,610,000
Current use
RESTAURANT
$2,410,000
Change: +50% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,345,000
Change: +45% · Conversion: Difficult
RETAIL STORES
$2,255,000
Change: +40% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,105,000
Change: +31% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,940,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$2.67M
Range $2.40M – $2.94M · ±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
$100 / 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
$44,926
Tax year 2023
Assessed value
$1,328,000
Assessed 2023
Previous assessed
$1,328,000
+0.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$136,700
Assessed improvement
$1,191,300
Land market value
$136,700
Improvement market value
$1,191,300
Total market value
$1,328,000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1981
Construction
WOOD
Heating
NONE
Buildings
4
Stories
1
Total area
26,600 SF
Lot
6.54 ac (284,882 SF)
APN
18-07-33-201-004.000-003
UPID
US31-1360651
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.6M
RESTAURANT
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.3M
RETAIL STORES
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
INDUSTRIAL (GENERAL) Current
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1981
Construction
WOOD
Heating
NONE
Stories
1
Buildings
4
Lot
6.54 ac
Current owner
From public records · entity-resolved
Bruce & Randi Carmichael LLC
Entity
Free & Clear · 7 yrs held
Mailing address
24 EMS 28TH LN, WARSAW, IN 46582-7390
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
Oct 5, 2018
—
Bruce & Randi Carmichael LLC
Tomken Plastic Technologies In
Warranty Deed
—
Jul 21, 2011
—
Tomken Plastic Technologies INC
Tomken Plastic Technologies INC
Corporation 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 4601 Superior Dr?
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.
