625 Tillotson AveMuncie, IN 47304

Property Details for 625 Tillotson Ave

Year built

1961

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

5,544 SF

Property type

Office properties

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.

• CAP approach

  CAP return

  Valuation

  6%

  $734,479

  6.5%

  $677,981

  7%

  $629,554

• Comparable approach

  Method

  Valuation

  Relative Method

  $637,940

  Geo Method

  $688,509

• Alternative Use

  Use

  Valuation

  Residential

  $840,696

  Hospitality

  $770,073

  Educational

  $640,692

  Medical

  $662,726

  Retail

  $996,632

Location Insight

City

Muncie

County

Delaware

State

Indiana

Latitude

40.1887

Longitude

-85.4194

CBSA code

34620

CBSA name

MUNCIE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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