506 N Martin Ave - Freestanding FOR SALE


Muncie, IN 47303- North Muncie
$2,499,999 USD
765-716-0039
506 N Martin Ave, Muncie, IN for Sale
$2,499,999 USD
Freestanding - FOR SALE
1/5
null | 3.21% Cap Rate

506 N Martin Ave
Muncie, IN 47303
North Muncie


HIGHLIGHTS

  • Location
  • Strong tenant and tenant history
  • Long term tenant

OVERVIEW

Prime location less than 100 feet from Ball State University's main entrance. Features include national tenant Jimmy Johns long term lease with increases through 2036, large upstairs 3BR 2BA luxury student housing apartment leased through July 22 2027. Included in the sale is partial ownership of parking lot behind property. Surrounded by Ball State University's $450M+ revitalization program including a new theatre (1 block), Center for Innovation and Collaboration (next door), 17 new attached townhomes (1 block) and additional student housing developments (next to theatre). Adjacent corner property (1612-1624 W University Ave.) including 5 retail spaces with national tenants including Insomnia Cookies and Wild Side Smoke Shop can be purchased for an additional $2.1M. I am the owner, I am not a realtor and I have no partners. Serious inquiries only.

FOR SALE DETAILS

PRICE

$2,499,999 USD

PRICE/SF

$556 USD /SF

CAP RATE

3.21%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Jimmy Johns Gourmet Sandwiches

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1951

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,525 SF

ZONING

-

APN/PARCEL ID

18-11-09-306-005.000-003

ASK ABOUT THIS PROPERTY

Andrew GothGreen Street Properties LLCMore Info
765-716-0039

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Andrew GothGreen Street Properties LLCMore Info
765-716-0039

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