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    809 Mcgalliard Rd Muncie, IN 47303

    Sponsored
    For Sale
    $3,495,000

    High-yield NNN lease, strong tenant.

    Property size:
    5,312 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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.

    Property Features for 809 Mcgalliard Rd

    General Information

    Property type
    Restaurants
    Square Feet
    5,312 SF
    Lot Size
    66,211 SF

    Building Details

    Stories
    1

    HighLights

    • 6.35% Cap Rate.
    • NNN lease with 2.9 years remaining (expires 10/31/2027), followed by four 5‑year options.
    • 1.5% annual rent increases.
    • Four 5‑year lease options (same terms).
    • No rent loss during the COVID‑19 pandemic.
    • 5,312 square foot building with 120 parking spaces on a 1.52‑acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    It's Just Wings Chicken Wings Restaurant Chili's Grill & Bar Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.3958333
    Latitude
    40.2184473

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    FAQs

    What type of property is this?
    Restaurant - High-yield NNN lease, strong tenant.
    Where is this restaurant located?
    The property is located at 809 Mcgalliard Rd Muncie, IN.
    What is the asking price?
    The asking price for this property is $3,495,000.
    What are key features of this property?
    This property features: 6.35% Cap Rate.; NNN lease with 2.9 years remaining (expires 10/31/2027), followed by four 5-year options.; 1.5% annual rent increases.
    Request Owner's contact information
    809 Mcgalliard Rd Muncie, IN 47303
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    809 Mcgalliard Rd Muncie, IN 47303
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