809 Mcgalliard RdMuncie, IN 47303

Property Details for 809 Mcgalliard Rd

Year built

1997

Lot size

1.01 AC

Property size (Sq ft)

5,191 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

18-11-04-251-003.000-003

APU

181104251003000003

Description

This exceptional investment opportunity presents a 5,312 square foot Chili's Grill & Bar restaurant located at 809 W McGalliard Rd, Muncie, IN 47303. The property sits on a 1.52-acre lot and boasts 120 parking spaces, ensuring ample customer convenience. Currently operating under a Net Lease (NNN) agreement with Brinker International, Inc., this property offers a compelling 6.35% cap rate based on a Net Operating Income (NOI) of $221,775. The lease, with a remaining term of approximately 2.9 years, includes 1.5% annual rent bumps and four five-year renewal options, all with identical terms. The tenant, a leading casual dining company, has demonstrated exceptional performance, experiencing zero rent loss during the COVID-19 pandemic. This location benefits from its prime position on a major commercial thoroughfare (29,000+ vehicles per day) within a densely populated area (75,000+ residents within 3 miles), and its proximity to Ball State University (1.5 miles) and IU Health Ball Memorial Hospital (2.5 miles). The property's strategic location between a Walmart Supercenter and the Muncie Mall further enhances its appeal. This is a rare opportunity to acquire a stable, high-performing investment with significant long-term potential. The asking price is $3,495,000. The single-story building is situated on two parcels of land.

Location Insight

City

Muncie

County

Delaware

State

Indiana

Latitude

40.2183

Longitude

-85.3959

CBSA code

34620

CBSA name

MUNCIE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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