Former Restaurant

Retail-Commercial for Sale
Catylist Listing ID: 30754027
Property Subtypes: Free-Standing Building, Restaurant, Street Retail
Building Size (RSF): 3,277 SF
Gross Building Area: See Agent
Gross Land Area: 0.69 Acres
Sale Price: $429,000
Unit Price: $130.91 PSF
Ceiling: 9 ft.
Is Quick-Service Restaurant? Yes
Has Drive-Thru? Yes
Property Use Type: Vacant/Owner-User
Building Name: Mac's Hamburgers
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/22/2021

Overview / Comments

Commercial Building and large .68 acre lot with 42 car parking lot located on busy commercial corridor in Muncie IN. Owner has retired and offers the real estate of the former Macs Family Restaurant for sale or lease. Building is well maintained and in good condition. Very successful and busy location for a restaurant, grossing over $1.4 Million per year. This property is located in the prime area of Madison Street with strong retail, banking and restaurant activity. Restaurant building is 3277 and pole barn for storage is 960 sq ft.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $7,980 (Annual)
Tax Value Land $178,800
Tax Value Improvements $87,200
Assessed Value - Total($) $266,000 (Annual)
Finance Data Year 2013
Real Estate Taxes - Annual($) $7,827 (Annual)
Tax Value Land $178,800
Tax Value Improvements $82,100
Assessed Value - Total($) $260,900 (Annual)
Finance Data Year 2011
Real Estate Taxes - Annual($) $7,530 (Annual)
Tax Value Land $170,000
Tax Value Improvements $81,000
Assessed Value - Total($) $251,000 (Annual)
Finance Data Year 2010
Real Estate Taxes - Annual($) $7,530 (Annual)
Tax Value Land $170,000
Tax Value Improvements $81,000
Assessed Value - Total($) $251,000 (Annual)
Finance Data Year 2009
Real Estate Taxes - Annual($) $7,734 (Annual)
Tax Value Land $170,000
Tax Value Improvements $87,800
Assessed Value - Total($) $257,800 (Annual)

Additional Details

Nearest MSA: Muncie
County: Delaware
Submarket/Township: Delaware
Tax ID/APN: 18-11-22-154-010.000-003
Zoning: BV VARIETY BUSINESS
Retail Clientele: General, Family, Business
Property Located Between: Downtown Muncie and The Muncie Bypass
Property Visibility: Excellent
Largest Nearby Street: Memorial Drive AKA 12th St
Feet of Frontage: 200
Highway Access: Via Muncie Bypass link to Interstate 68
Site Description: Corner lot Madison St and 17th Street, level at street grade, 3 curb cuts on Madison St., access north and south via paved asphalt alley.
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 1
Typical SF / Floor: 3,277 SF
Property Condition: Good
Year Built: 1972
Year Renovated: 1985
Roof Type: Flat
Construction/Siding: Metal Siding
Total Parking Spaces: 42
Parking Type: Surface
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: Dining Room, Kitchen, Counter area with Drive thru window, 2 restrooms. Separate 960 pole barn structure with concrete floor, lights and 2 overhead doors.
Zoning Description: BV Variety Business
Lot Frontage: 200
Lot Depth: 149
Water Service: Municipal
Sewer Type: Municipal
Legal Description: G&O SUB 0.0000Acres STR: 222010 IN: 4-5-6-7-8-3062 OUT:

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,112 59,021 85,469
Median Age: 36.59 33.9 35.98
Households: 5,028 22,508 33,915
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