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3100 N Morrison

Muncie, IN 47304

$1,989,555

Bank For Sale  •  2,669 Sq Ft

Property Details

  • Property Type Bank
  • Total Building Size 2,669 Sq Ft
  • Lot Size 1.29 ac
  • Building Class B
  • Year Built 1992
  • Cap Rate 6.50 %
  • Tenancy Single
  • Zoning Commercial Industrial
0 Transit Score
54 Walk Score

Description

The subject site is located at the signalized, hard corner intersection of N. Morrison Road/300 West and W. McGalliard Road with a combined 36,200 vehicles passing by daily.  The asset has excellent visibility & access on a corner site. In addition, Old National Bank is a pad to a Walmart Supercenter and a Lowe’s Home Improvement anchored shopping plaza. The site benefits from its irreplaceable location along W. McGalliard Road which is a major retail thoroughfare for the town of Muncie. Nearby national/credit tenants include Marsh Supermarket, Best Buy, Rural King, Menards, Meijer, Harbor Freight Tools, Hobby Lobby and more. The subject property is also 2 miles from Ball State University (approximately 22,000 students enrolled) and 4 miles from Muncie Mall (636,000 SF of retail space) currently anchored by Macy’s, JCPenney, Carson’s and Sears. Increases consumer shopping traffic and crossover in the area. The 5-mile trade area is supported by a dense population of approximately 80,000 with an average household income of $51,000.

Highlights

Just Under 5 Yrs Remaining on Initial Lease Term | Corp Guaranteed | Annual 1.5% Rent Increases
Absolute NNN Lease | Fee Simple Ownership | No LL Responsibilities
Pad to Walmart Supercenter and Lowe's | Nearby national tenants include Marsh Supermarket, Best Buy, Menards, Meijer, and more
Located at Signalized, Hard Corner Intersection w/ 36,200 Vehicles Passing Daily | 2 Miles from Ball State University | 4 Miles from Muncie Mall
Strong Demographics in 5 Mile Area | Over 80,000 Residents & 44,000 Employees Support the Trade Area | $51,000 Average Household Income
Cap Rate: 6.50 %

Major Tenants

Tenant SF Occupied Lease End Date
Old National Bank 2,669 SF 12/31/2022

Amenities

  • Banking

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 23
Type: Surface
Included in Rent: Yes
Dan Elliot 312-279-5342 SRS National Net Lease Group
Dan Elliot 312-279-5342 SRS National Net Lease Group