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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Theaters & concert halls
5401 Hessler Rd Muncie, IN 47304-8964
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US31-2461699
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1985
Construction
WOOD
Total area
10,422 SF
Lot
15.64 ac (681,278 SF)
APN
18-10-01-251-024.000-015
UPID
US31-2461699
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
-
Calvary Christian Center Church
-
Glad Tidings Church Muncie North Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$540k
Owner & transaction history
Glad Tidings Assembly Of God Church · 1 yrs held
Glad Tidings Assembly Of God Church
since 2025
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$895,000
+55.4%
Medical building
$785,000
+36.3%
Commercial (general)
$670,000
+15.9%
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
THEATER (MOVIE)
$575,000
Current use
AUTO REPAIR, GARAGE
$895,000
Change: +55% · Conversion: Difficult
MEDICAL BUILDING
$785,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$670,000
Change: +16% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$665,000
Change: +15% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$630,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$620,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$52 / 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
$3,050
Tax year 2023
Assessed value
$1,460,100
Assessed 2023
Previous assessed
$1,460,100
+0.0% YoY
Effective rate
0.21%
On assessed value
Assessed land
$832,700
Assessed improvement
$627,400
Land market value
$832,700
Improvement market value
$627,400
Total market value
$1,460,100
Applied tax rate
15.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1985
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
10,422 SF
Lot
15.64 ac (681,278 SF)
APN
18-10-01-251-024.000-015
UPID
US31-2461699
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
THEATER (MOVIE) Current
Est. value
$575,000
AUTO REPAIR, GARAGE
Est. value
$895,000
MEDICAL BUILDING
Est. value
$785,000
COMMERCIAL (GENERAL)
Est. value
$670,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$665,000
INDUSTRIAL (GENERAL)
Est. value
$630,000
RETAIL STORES
Est. value
$620,000
THEATER (MOVIE) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1985
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
15.64 ac
Current owner
From public records · entity-resolved
Glad Tidings Assembly Of God Church
Entity
Mailing address
5401 W HESSLER RD, MUNCIE, IN 47304-8964
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Apr 9, 2025
—
Glad Tidings Assembly Of God Church
—
Deed
related
$866,490 · Primetrust Financial Federal
Mar 1, 2022
—
Glad Tidings Assembly Of God Church
—
Deed
related
$331,843 · Primetrust Financial Federal
Feb 23, 2022
—
Glad Tidings Assembly Of God Church
—
Deed
related
$331,843 · Primetrust Financial Federal
Jan 5, 2022
—
Calvary Christian Center
—
Deed
related
$331,843 · Primetrust Financial Federal
Sep 14, 2016
—
Calvary Christian Center
—
Deed
related
$492,981 · Primetrust Financial Federal
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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