NNN Leased Restaurant Investment
809 W McGalliard Rd, Muncie, IN 47303
NNN leased Chili's with corporate guarantee in Muncie, Indiana.
Type:Retail
Property size:
5,312 SFPrice / SF:
$637/SF- Added:
- Jul 11, 2023
- Days on Market:
- 1052
- Last Refresh:
- May 12 at 11:17 pm
Property Features for 809 W McGalliard Rd
General Information
- Standard status
- Active
- Size
- 5,312 SF
- Property subtype
- Retail
Listing agent David Propach License #CA 01926166
Listing office But Simple, Inc.
Listing date Jul 11, 2023
Source Crexi
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 But Simple, Inc.
HighLights
- NNN lease with Brinker International, Inc. (NYSE: EAT) as the tenant.
- 2.5+ years remaining on the initial lease term with 1.5% annual increases and four 5‑year options.
- Located on a high‑traffic commercial road (29,755 VPD) in Muncie, Indiana.
- Strong tenant confidence indicated by Brinker retaining ownership of this location after acquiring the unit operator.
- Close proximity to Ball State University and IU Health Ball Memorial Hospital.
- Proven lease performance with 17 years of full lease payments since 2008.
Overview
This property is a NNN leased restaurant with over 2.5 years remaining on its initial 20-year term. The lease includes 1.5% annual increases and four 5-year options. The tenant is Brinker International, Inc. (NYSE: EAT, www.Brinker.com), a global casual dining company that owns, operates, and franchises over 1,600 restaurants in 29 countries and two U.S. territories, including Chili’s Grill & Bar and Maggiano’s Little Italy. The current owners have experienced 17 years of continuous lease performance since purchasing the property in 2008. In late 2019, Brinker acquired the Chili's unit operator at this location, retaining it within their owned portfolio. The property is located on West McGalliard Road, a commercial thoroughfare with a traffic volume of 29,755 vehicles per day. The surrounding area has a population of over 84,000 within a 5-mile radius, encompassing residences and employment centers. Ball State University, with over 20,000 students and staff, is approximately 1.5 miles away, and IU Health Ball Memorial Hospital, with 36,000 employees, is about 2.5 miles away. The property is situated between a Walmart Supercenter 2.5 miles to the west and the Muncie Mall 1 mile to the east. The building size is 5,312 square feet.
Property Profile
Location Intelligence
Current Use by Public Records
It's Just Wings
Restaurant
Chili's Grill & Bar
Restaurant
Location Insight
- Map
- Local Demand
- City
- Muncie
- County
- Delaware
- State
- Indiana
- Longitude
- -85.3958285
- Latitude
- 40.2184616
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - NNN leased Chili's with corporate guarantee in Muncie, Indiana.
Where is this conventional restaurant located?
The property is located at 809 W McGalliard Rd Muncie, IN.
What is the asking price?
The asking price for this property is $3,389,000.
What are key features of this property?
This property features: NNN lease with Brinker International, Inc. (NYSE: EAT) as the tenant.; 2.5+ years remaining on the initial lease term with 1.5% annual increases and four 5‑year options.; Located on a high‑traffic commercial road (29,755 VPD) in Muncie, Indiana.
