Downtown Muncie

Office for Sale
Catylist Listing ID: 30775022
Property Subtypes: Governmental, Institutional, Medical, Flex Space, Office Building
Building Size (RSF): 26,965 SF
Gross Land Area: 0.84 Acres
Sale Price: $695,000
Unit Price: $25.77 PSF
Ceiling: 9 ft.
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Building Name: USI Insurance/AE Boyce
Class of Space: Class B
Usable Size (USF): 26,965 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/18/2021

Overview / Comments

High quality downtown building located in the Central Business District of Muncie. 11,000 square feet of ground floor area, 11,000 square feet in basement partially finished and 4805 square feet on second level. Freight elevator and delivery doors to storage area. Currently finished as office area on the ground floor with 17 private offices, conference rooms and open area work areas. Large parking lot with over 60 parking spaces. Adaptable for many uses including retail, office or conversion to other use. Block construction with concrete floor structures.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $28,934 (Annual)
Tax Value Land $77,700
Tax Value Improvements $886,800
Assessed Value - Total($) $964,500 (Annual)
Finance Data Year 2013
Real Estate Taxes - Annual($) $31,947 (Annual)
Tax Value Land $97,100
Tax Value Improvements $967,800
Assessed Value - Total($) $1,064,900 (Annual)
Finance Data Year 2011
Real Estate Taxes - Annual($) $37,233 (Annual)
Tax Value Land $90,000
Tax Value Improvements $1,151,100
Assessed Value - Total($) $1,241,100 (Annual)
Finance Data Year 2010
Real Estate Taxes - Annual($) $42,978 (Annual)
Tax Value Land $90,000
Tax Value Improvements $1,342,600
Assessed Value - Total($) $1,432,600 (Annual)
Finance Data Year 2009
Real Estate Taxes - Annual($) $15,930 (Annual)
Tax Value Land $90,000
Tax Value Improvements $441,000
Assessed Value - Total($) $531,000 (Annual)

Additional Details

Nearest MSA: Muncie
County: Delaware
Tax ID/APN: 18-11-10-365-010.000-003
Zoning: CB CENTRAL BUSINESS DISTRICT
Property Located Between: Walnut St and Madison St
Property Visibility: Excellent
Site Description: .84 acres includes building and asphalt parking lot
Area Description: Downtown Muncie
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 11,080 SF
Year Built: 1967
Year Renovated: 2009
Roof Type: Flat
Construction/Siding: Block, Brick
Exterior Description: Brick siding, large glass windows
Parking Type: Surface
Parking Description: 60 + spaces
Total Parking Spaces: 60
Freight Elevators: 1
Sprinklers: Other
Heat Type: Natural Gas
Heat Source: Other
Air Conditioning: Evaporative Cooler
Interior Description: Main level is finished with 17 offices, work rooms and work areas. Basement is sprinklered, balance of building has fire protection system.
Zoning Description: Central Business
Lot Frontage: 290
Lot Depth: 125
Water Service: Municipal
Sewer Type: Municipal
Legal Description: South half of outlot 5 Browns Donation .84 acres

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,682 70,026 88,344
Median Age: 29.76 34.36 36.17
Households: 5,129 27,528 35,038
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