404 W Air Park Dr - Medical FOR SALE


Muncie, IN 47303- North Muncie
$935,000 USD
765-808-1400
404 W Air Park Dr, Muncie, IN for Sale
$935,000 USD
Medical - FOR SALE
1/7
null | 7.58% Cap Rate

404 W Air Park Dr
Muncie, IN 47303
North Muncie


OVERVIEW

Investment property located in the Airpark Center Industrial Park in north central Muncie. Three solid tenants include Peterman Brothers HVAC as anchor tenant, Quality Correctional Care and Centimark Commercial Roofing with leases extending to 2027 and 2028. Gross Income $8,825 monthly/$105,900 annual. Expenses average around $35,000 making net income $70,900. This is a very low maintenance property constructed in 2010, features include a brick and metal façade, metal roof, covered sidewalk and concrete parking lot situated on 2.5 Acres. Convenient location adjacent to the Muncie Airport and centrally located for access to anywhere in Delaware County and linkage to the Muncie Bypass and Interstate 69. The building is 12,250 square feet. The west portion also has an overhead door for indoor storage of vehicles or equipment. Suite One is 400 W Air Park and has 3284 square feet of office area; Suite Two is 404 W Air Park and has 1116 square feet; Suite Three is 408 W Air Park and includes 7,850 of space including a garage space. All Suites are leased so arrangements need to be made with listing agent for inspections.

FOR SALE DETAILS

PRICE

$935,000 USD

PRICE/SF

$76 USD /SF

CAP RATE

7.58%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Distribution, Service

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

2.51 AC

LAND SF

109,336 SF

ZONING

IP

APN/PARCEL ID

18-07-33-276-007.000-003

ASK ABOUT THIS PROPERTY

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 Policy.

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 Policy.