Property profile

915 Memorial Dr Muncie, IN 47302

OFF-MARKET
Commercial real estate
Property ID
US31-1744305
10,888 SF 0.25 ac lot Built 1900
Entity Owned Free & Clear
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Property summary

AI-generated overview

This exceptional 10,888 square foot mixed-use building, situated on a 0.25-acre lot at 915 E Memorial Drive in Muncie, Indiana, presents a unique investment opportunity. Currently configured as a house of worship, the property boasts a welcoming foyer, a sizable sanctuary, dedicated administrative offices, and convenient washrooms. The full basement offers additional space, including a functional kitchen and a large fellowship hall, perfect for gatherings or events. While some interior cleaning is recommended, the building's foundation is dry and structurally sound, ensuring a solid base for future development. A comparable, smaller property recently sold for a price near the asking price of $85,000, highlighting the exceptional value this offering presents. The versatile layout lends itself to a variety of uses, including but not limited to office spaces, residential conversion, or an entertainment venue. This property is particularly well-suited for churches or ministries seeking a new home, offering significant space and potential at a highly competitive price point. The strategic location in Muncie provides easy access to local amenities and transportation routes. Don't miss this chance to acquire a substantial property with immense potential for redevelopment and future growth. Serious inquiries are encouraged.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1900
Construction WOOD
Total area 10,888 SF
Lot 0.25 ac (10,918 SF)
APN 18-11-22-201-009.000-003
UPID US31-1744305

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

915 Memorial Dr Muncie, IN 47302-4363
Muncie metro Census 1500 MUNCIE, IN METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$753k
Blend (final) Blend
$665k

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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