Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    625 Tillotson Ave Muncie, IN 47304-4449
    Back to Search
    Property profile & analytics

    625 Tillotson Ave Muncie, IN 47304-4449

    View on Map
    • Office Spaces
    • 5,544 SF
    • 0.17 lot acres
    Off-Market
    Property ID
    US31-1506672
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mathewson Law, PC / Law Firm
    • CoolSculpting at Body By / Weight Loss Service
    • Signal Health Group / Home Health Care Service / Care Services

    Property Details for 625 Tillotson Ave

    Year built
    1961
    Construction
    WOOD
    Lot size
    0.17 lot acres
    Property size
    5,544 SF
    Property type
    Office Spaces
    APN
    18-11-17-153-016.000-003
    APU
    181117153016000003

    Description

    This fully leased, 12-unit commercial property in Muncie, Indiana, presents a compelling investment opportunity. Spanning 10,728 square feet across three single-story buildings on a 36,155 square foot lot, this stabilized property boasts 100% occupancy and offers significant redevelopment potential. Built in 1961 and zoned BV R4, the property is strategically located at 625 S Tillotson Avenue, adjacent to major retailers like Payless (Kroger Brand) Grocery, Taco Bell, and KFC. Its prime location in a strong retail and medical corridor between downtown Muncie and Yorktown, near Ball State University, Indiana University Hospital, and the White River, ensures high demand and strong rental income. All roofs were replaced in 2024. The asking price is $695,000. This property offers a blend of immediate income generation and long-term growth potential. The property's proximity to major institutions and high-traffic areas makes it an attractive investment for both short-term and long-term returns.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.4194
    Latitude
    40.1887
    CBSA code
    34620
    CBSA name
    MUNCIE, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,623
    $75,600
    $92,100
    $167,700
    -
    $75,600
    $92,100
    $167,700

    Comparable in this City

    • Value Estimation by Request
      10,241 SF

      2902 White River Blvd

      Medical Office Space • 10,241 SF
      2902 White River Blvd, Muncie, IN 47304
      View Details
    • Value Estimation
      $800,000
      17,430 SF

      1700 Mcgalliard Rd

      OFFICE (GENERAL) • 17,430 SF
      1700 Mcgalliard Rd, Muncie, IN 47304-2207
      View Details
    • Value Estimation
      $3,350,000
      45,870 SF

      2300 Blk W Riverside Ave

      OFFICE (GENERAL) • 45,870 SF
      2300 Blk W Riverside Ave, Muncie, IN 47304
      View Details
    • Value Estimation
      $1,865,000
      27,487 SF

      4005 Wheeling Ave

      OFFICE (GENERAL) • 27,487 SF
      4005 Wheeling Ave, Muncie, IN 47304-1428
      View Details
    • Value Estimation by Request
      7,113 SF

      6108 Bethel Ave

      OFFICE (GENERAL) • 7,113 SF
      6108 Bethel Ave, Muncie, IN 47304-8507
      View Details
    • Value Estimation by Request
      4,720 SF

      2560 Kilgore Ave

      OFFICE (GENERAL) • 4,720 SF
      2560 Kilgore Ave, Muncie, IN 47304-4802
      View Details

    Similar Nearby for Sale

    • $395,000

      Commercial Building with Drive-Thru

      Versatile 1,600 SQFT building suitable for retail, office, or food service.
      4801 N Wheeling Ave, Muncie, IN 47304
      View Details
    • $1,250,000
      12,600 SF

      Versatile Commercial Space for Sale

      12,600 SF commercial building suitable for medical, retail, office.
      1107 S Tillotson Ave, Muncie, IN 47304
      View Details
    • New
      $127,500
      3,060 SF

      Versatile Muncie Building with Updates

      Adaptable 3,060 SF building suitable for office or religious use.
      4023 N Rosewood Ave, Muncie, IN 47304
      View Details
    • $725,000
      6,300 SF

      Muncie Office Building For Sale

      Well-maintained office building in a prime commercial corridor.
      3621 N Everbrook Ln, Muncie, IN 47304
      View Details
    • $325,000
      5,327 SF

      Office Building on West McGalliard

      Office building with high exposure on West McGalliard Road.
      5100 W Bradburn Dr, Muncie, IN 47304
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      6,300 SF

      Muncie Office Space: 1,000 SF Available

      Prime Muncie location, modern office, NNN lease.
      3621 Everbrook Ln, Muncie, IN 47304
      View Details
    • $11 SF/Yr
      12,869 SF

      Muncie Office Space Available 2027

      Office suites in Muncie available January 1, 2027.
      3645 N Briarwood Ln, Muncie, IN 47304
      View Details
    • Contact for pricing
      1,500 SF

      Muncie Office Space For Rent

      Office space available for lease in Muncie, Indiana.
      3310 W Fox Ridge Ln, Muncie, IN 47304
      View Details
    • $12 SF/Yr
      3,760 SF

      Renovated Commercial Space, Open Layout

      Versatile, move-in-ready space suitable for various businesses.
      4611 N Wheeling Ave, Muncie, IN 47304
      View Details
    • $12 SF/Yr

      Office Space Available For Rent

      Divisible 10,000 SF office space for rent.
      1107 S Tillotson Ave, Muncie, IN 47304
      View Details
    • $2,500 /Mo
      4,000 SF

      Heated Flex Space For Lease

      4000 SF flex space suitable for various commercial uses.
      1803 W Purdue Ave, Muncie, IN 47304
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    625 Tillotson Ave
    Muncie, IN 47304-4449
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    625 Tillotson Ave, Muncie, IN, 47304
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!