809 W Mcgalliard Rd Muncie, IN 47303
Property profile & analytics
809 W Mcgalliard Rd Muncie, IN 47303
- Turn key restaurants
- 5,191 SF
- 1.01 lot acres
Property ID
US31-1577433
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- It's Just Wings / Restaurant
- Chili's Grill & Bar / Restaurant
Property Details for 809 W Mcgalliard Rd
- Year built
- 1997
- Lot size
- 1.01 lot acres
- Property size
- 5,191 SF
- Property type
- 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.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Muncie
- County
- Delaware
- State
- Indiana
- Longitude
- -85.3959
- Latitude
- 40.2183
- CBSA code
- 34620
- CBSA name
- MUNCIE, IN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$24,208
$527,400
$218,000
$745,400
-
$527,400
$218,000
$745,400
