400 N High St - Office FOR SALE


Muncie, IN 47305- Downtown Muncie
$3,900,000 USD
765-808-1400
400 N High St, Muncie, IN for Sale
$3,900,000 USD
Office - FOR SALE
1/28
null | 7.18% Cap Rate

400 N High St
Muncie, IN 47305
Downtown Muncie


OVERVIEW

Opportunity to own a great investment property located at the Gateway to downtown Muncie Indiana. The Star Bank building includes a diversified mix of quality tenants with long term leases. Anchor tenants include Star Financial Bank, Praxis Risk Services, Coldwell Banker Real Estate Group and the Federal Bureau of Investigation. A majority of the tenant spaces have been remodeled with many leases extending into 2030. The property has a long history of strong demand and low turnover. Total current income is in excess of $610,000 annually showing a cash on cash 7.2% return. This 3 story property is in excellent condition and has been well maintained. 100% occupancy with 9 tenant spaces ranging from 1022 sq ft to 8700 sq ft.

FOR SALE DETAILS

PRICE

$3,900,000 USD

PRICE/SF

$94 USD /SF

CAP RATE

7.18%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Star Plaza

PROPERTY TYPE

Office

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

142

LAND DETAILS

LAND ACRES

2.16 AC

LAND SF

94,090 SF

ZONING

CB

APN/PARCEL ID

18-11-09-479-008.000-003

ASK ABOUT THIS PROPERTY

Brian AllardtColdwell Banker Commercial --Real Estate GroupMore Info
765-808-1400

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Brian AllardtColdwell Banker Commercial --Real Estate GroupMore Info
765-808-1400

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.