5081 Hessler Rd Muncie, IN 47304-8960

Property Details for 5081 Hessler Rd

Year built

1996

Construction

WOOD

Lot size

0.81 lot acres

Property size

2,904 SF

Property type

Medical offices

Property subtype

Medical centers

APN

18-10-01-226-011.000-031

APU

181001226011000031

Description

This single-tenant, 2,871 square foot storefront in Muncie, Indiana, presents a compelling investment opportunity. The property, located at 5081 Hessler Rd, boasts a 6.65% cap rate and a strong, long-term lease with Affordable Dentures, a tenant with a 28-year history at this location. The current lease, an NNN (Net Lease) agreement, extends through December 31, 2029, with two 5-year options at an 8% rent increase each. The building, constructed of all-brick, sits on a 0.75-acre lot with ample parking (40 spaces). The property benefits from high visibility on Route 332, a major east-west corridor, and proximity to significant retailers including Walmart, Meijer, and Menards. The low current rent of less than $18 per square foot (as of January 2025) provides significant upside potential. The tenant is responsible for parking lot maintenance, HVAC, and plumbing. The property's location near Ball State University (approximately 20,000 students) further enhances its appeal. This offering is ideal for 1031 exchange investors seeking a stable, high-yield investment with a proven tenant and significant remaining lease term. The asking price is $770,000, representing a price per square foot of $268.20. The property's NOI is $51,247.

Location Insight

City

Muncie

County

Delaware

State

Indiana

Longitude

-85.4454

Latitude

40.2181

CBSA code

34620

CBSA name

MUNCIE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments