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3607 N Wheeling Ave 3,000 SF Office Building Muncie, IN 47304 $940,000 ($313.33/SF) 6.47% Cap Rate
Investment Highlights
- 3,000 SF single-tenant building built in 2016
- NOI of $60,821.04 with 6.5% CAP rate
- Located on a high-visibility corridor in Muncie
- Long-term lease in place through 2029
- Build-to-suit for Ruoff with modern design
- Low-maintenance investment with stable income
Executive Summary
This single-tenant investment property offers a 3,000-square-foot building constructed in 2016 as a build-to-suit for Ruoff. The property is currently leased through 2029, providing a stable income stream with a Net Operating Income (NOI) of $60,821.04 and a 6.5% capitalization rate.
The building sits on a well-positioned site along N. Wheeling Avenue, a high-visibility corridor in Muncie, Indiana. The structure features modern construction and design, ensuring minimal near-term maintenance. Annual real estate taxes are $12,000, and insurance costs are $3,117.96, making this a low-risk, income-producing asset for investors seeking long-term stability.
With a strong tenant in place and a lease extending for several more years, this property represents a secure opportunity for buyers focused on predictable returns and minimal management responsibilities.
The building sits on a well-positioned site along N. Wheeling Avenue, a high-visibility corridor in Muncie, Indiana. The structure features modern construction and design, ensuring minimal near-term maintenance. Annual real estate taxes are $12,000, and insurance costs are $3,117.96, making this a low-risk, income-producing asset for investors seeking long-term stability.
With a strong tenant in place and a lease extending for several more years, this property represents a secure opportunity for buyers focused on predictable returns and minimal management responsibilities.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
3,000 SF
Building Class
B
Year Built
2017
Price
$940,000
Price Per SF
$313.33
Cap Rate
6.47%
NOI
$60,801
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,000 SF
Building FAR
0.13
Lot Size
0.55 AC
Zoning
BL - Limited Business Zone
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 18-07-33-351-011.000-003 | Improvements Assessment | $325,900 |
| Land Assessment | $101,800 | Total Assessment | $427,700 |
Property Taxes
Parcel Number
18-07-33-351-011.000-003
Land Assessment
$101,800
Improvements Assessment
$325,900
Total Assessment
$427,700
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3607 N Wheeling Ave
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