418 Adams StMuncie, IN 47305

Property Details for 418 Adams St

Year built

1920

Construction

TYPE NOT SPECIFIED

Lot size

0.75 AC

Property size (Sq ft)

13,756 SF

Property type

Office properties

Property subtype

Other office properties

APN

18-11-16-226-008.000-003

APU

181116226008000003

Description

This exceptional 0.75-acre commercial property at 418 W Adams Street, Muncie, Indiana, presents a unique investment opportunity. The building, boasting beautiful architecture and a stone exterior, is meticulously maintained and offers a multitude of potential uses. A new roof was installed in 2016, ensuring long-term durability. The interior features a versatile layout ideal for various commercial ventures. A large sanctuary, capable of holding approximately 250 people, is expandable via a removable wall. The property also includes a fully equipped commercial kitchen, multiple restrooms, a library, classrooms, studies, and an administrative office. Additional amenities include an elevator, three central air/heat pump units, and two boiler systems for efficient climate control. A large east room, complete with a kitchenette and commercial freezers, is perfect for meetings or events. Currently used as a church, this property is well-suited for a religious organization seeking a new home, or for adaptive reuse as office space or apartments. Its prime location near downtown Muncie in a historic neighborhood, combined with its extensive amenities, makes this a highly attractive investment opportunity. The asking price is $350,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,933,641

  6.5%

  $1,784,899

  7%

  $1,657,406

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,456,515

  Geo Method

  $1,708,358

• Alternative Use

  Use

  Valuation

  Residential

  $2,213,275

  Hospitality

  $2,027,348

  Educational

  $1,686,730

  Medical

  $1,744,739

  Retail

  $2,623,802

Location Insight

City

Muncie

County

Delaware

State

Indiana

Latitude

40.1923

Longitude

-85.3905

CBSA code

34620

CBSA name

MUNCIE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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