Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    915 Willard St Muncie, IN 47302-3552
    Back to Search
    Property profile & analytics

    915 Willard St, Muncie, IN 47302-3552

    View on Map
    • Specialty properties
    • 4,784 SF
    • 0.54 lot acres
    Off-Market
    Property ID
    US31-2195568
    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

    • Faulkner's Mortuary / Social Service Agency

    Property Details for 915 Willard St

    Year built
    1956
    Construction
    WOOD
    Lot size
    0.54 lot acres
    Property type
    Specialty properties
    APN
    18-11-15-401-003.000-003
    APU
    181115401003000003

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 13, 2025 — Aspen Ridge Real Estate LLC Edgar Faulkner JR Warranty Deed $474k · Crane FCU
    Nov 2, 2022 — Edgar Faulkner III Edgar Faulkner JR Transfer On Death Deed · related —

    Description

    This exceptional commercial property, situated on a 0.54-acre lot at 915 E Willard Street in Muncie, Indiana, presents a compelling redevelopment or owner-user opportunity. The substantial 8084 square foot building offers a versatile layout ideal for a variety of commercial uses. The ground floor features a spacious open area, perfect for retail, warehousing, or a combination thereof, complemented by existing office space and a functional kitchen. A four-car garage provides ample secure storage, while extensive outdoor parking ensures convenient access for customers and employees. Adding to the property's potential, the upper level comprises two apartments that have been completely gutted, presenting a blank canvas for renovation into modern residential units, generating additional income streams. This prime location in Muncie's Southside offers excellent visibility and accessibility, making it an attractive proposition for both investors seeking a multi-family redevelopment project and owner-occupiers looking for a large, adaptable space. The asking price of $135,000 represents a significant opportunity in the current market. The property's size, layout, and location combine to create a unique investment prospect with considerable upside potential. Serious inquiries are encouraged to explore the possibilities this property offers.

    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
    -85.3765
    Latitude
    40.1853
    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
    $4,203
    $15,100
    $103,400
    $118,500
    -
    $15,100
    $103,400
    $118,500

    Comparable in this City

    • Value Estimation by Request
      3.38 Acres

      1110 10th St

      CHARITABLE ORGANIZATION
      1110 10th St, Muncie, IN 47302-2256
      View Details
    • Value Estimation by Request
      7,600 SF

      3520 Meeker Ave

      PROFESSIONAL CLUBS/ASSOCIATIONS
      3520 Meeker Ave, Muncie, IN 47302-5984
      View Details
    • Value Estimation by Request
      9,328 SF

      900 Kirby Ave

      FUNERAL HOME
      900 Kirby Ave, Muncie, IN 47302-2548
      View Details
    • Value Estimation by Request
      0.36 Acres

      1500 Willard St, Unit 6-10

      PROFESSIONAL CLUBS/ASSOCIATIONS
      1500 Willard St, Muncie, IN 47302
      View Details
    • Value Estimation by Request
      11.06 Acres

      2201 Macedonia Ave

      CHARITABLE ORGANIZATION
      2201 Macedonia Ave, Muncie, IN 47302
      View Details
    • Value Estimation by Request
      0.11 Acres

      Blk S Blaine St 500th Blk S Blaine St St

      INDUSTRIAL - VACANT LAND
      Blk S Blaine St 500th Blk S Blaine St St, Muncie, IN 47302
      View Details

    Similar Nearby for Sale

    • $550,000
      7,000 SF

      Muncie Retail Net Leased Property

      Well-located retail property with recent lease extension in Muncie, IN.
      2001 S Madison St, Muncie, IN 47302
      View Details
    • $85,000
      10,888 SF

      Prime Muncie Mixed-Use Property

      Spacious Worship Center, Endless Potential
      915 Memorial Dr, Muncie, IN 47302
      View Details
    • Contact for pricing
      0.15 Acres

      Residential Land in Muncie, IN

      Vacant city lot available for residential use.
      1800 E 23Rd St, Muncie, IN 47302
      View Details
    • Contact for pricing
      224,000 SF

      Muncie Industrial Facility For Sale

      224,000 SF industrial facility with strategic Midwest distribution access.
      1401 E Memorial Dr, Muncie, IN 47302
      View Details
    • Contact for pricing
      0.08 Acres

      Residential Lot in Muncie, IN

      Corner lot available in Muncie, Indiana.
      1201 S Mulberry St, Muncie, IN 47302
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Retail Space in Walmart Shadow

      1,200 SF retail space available for lease.
      3600 S Chandler Dr, Muncie, IN 47302
      View Details
    • Contact for pricing

      Retail Space in Shoppes at Southside

      Retail spaces available in established shopping center.
      3600 S Chandler Dr, Muncie, IN 47302
      View Details
    • $6,000 /Mo
      19,800 SF

      Muncie Industrial Space For Rent

      19,800 SF industrial space available for lease.
      2401 S Monroe St, Muncie, IN 47302
      View Details
    • Contact for pricing
      3,500 SF

      Retail Storefront Adjacent to Dollar

      Retail storefront with new flooring, located next to Family Dollar.
      2030 S Madison St, Muncie, IN 47302
      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.
    915 Willard St
    Muncie, IN 47302-3552
    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
    915 Willard St, Muncie, IN, 47302
    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!