Red Lobster Triple-Net
For Sale
Contact for pricing
223 W McGalliard Rd, Muncie, IN 47303
Single-tenant Red Lobster on an absolute triple-net lease with 16.15 years remaining on the base term.
Property Size6,641 SF
Lot Size1.59 Acres
Days on Market128
Property Features for 223 W McGalliard Rd
General Information
Standard status
Active
Size
6,641 SF
Lot size
1.59 Acres
Property subtype
Retail
Building Details
Tenancy
Single
Listing Agency:
SURMOUNT
(332) 345-4222
Listed By:
Glen Kunofsky · License #NY 49KU1129178
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 23 at 9:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SURMOUNT
Investment Insights
Based on property information with market context.
NNN Pro Group presents an exclusive sale offering for a Red Lobster restaurant property in Muncie, Indiana. The site includes approximately 6,641 rentable square feet of building space on an estimated 1.59-acre parcel.
The property is subject to a 25-year absolute triple-net (NNN) lease, with 16.15 years remaining on the base term. Rent was listed as $171,569 as of 8/1/23, with scheduled 2% annual increases throughout the base term and in each of the 4, 5-year renewal options. The address is 223 W McGalliard Rd, Muncie, IN 47303.
The property is subject to a 25-year absolute triple-net (NNN) lease, with 16.15 years remaining on the base term. Rent was listed as $171,569 as of 8/1/23, with scheduled 2% annual increases throughout the base term and in each of the 4, 5-year renewal options. The address is 223 W McGalliard Rd, Muncie, IN 47303.
Key Highlights
- Single‑tenant Red Lobster in Muncie, Indiana with 6,641 rentable SF on an estimated 1.59‑acre parcel
- 25‑year absolute triple‑net (NNN) lease with 16.15 years remaining on the base term
- Current rent as of 8/1/23 is $171,569
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
381k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 15%
Groceries 12%
Electronics 1%
Chick-fil-A
Dining
51,576 visits/mo
0.1 miles
Texas Roadhouse
Dining
37,503 visits/mo
0.2 miles
Aldi
Groceries
32,959 visits/mo
0.2 miles
Starbucks
Dining
31,889 visits/mo
0.2 miles
Crew Carwash
Shops & Services
22,358 visits/mo
0.1 miles
Demographics for 47303, IN
24,069
Population
11,567
Households
2.1
Avg Household Size
30
Median Age
25%
College-Educated
90%
High-School Grad
58.0 sq mi
ZIP Area
415
Density / Sq Mi
$42,556
Median Household Income
$22,497
Median Earnings
$883
Median Rent
$106,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant Red Lobster on an absolute triple-net lease with 16.15 years remaining on the base term.
Where is this nnn property located?
The property is located at 223 W McGalliard Rd Muncie, IN.
What are key features of this property?
This property features: Single‑tenant Red Lobster in Muncie, Indiana with 6,641 rentable SF on an estimated 1.59‑acre parcel; 25‑year absolute triple‑net (NNN) lease with 16.15 years remaining on the base term; Current rent as of 8/1/23 is $171,569
