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404 W Air Park Dr
Muncie, IN 47303
Office Property For Sale
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
12,250 SF
Building Class
C
Year Built
2010
Price
$1,292,638 CAD
Price Per SF
$105.52 CAD
Cap Rate
7.58%
NOI
$98,019 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
12,250 SF
Building FAR
0.11
Lot Size
2.51 AC
Zoning
IP - Industrial Park
Parking
60 Spaces (4.9 Spaces per 1,000 SF Leased)
AMENITIES
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 18-07-33-276-007.000-003 | Improvements Assessment | $449,827 CAD |
| Land Assessment | $219,934 CAD | Total Assessment | $669,761 CAD |
PROPERTY TAXES
Parcel Number
18-07-33-276-007.000-003
Land Assessment
$219,934 CAD
Improvements Assessment
$449,827 CAD
Total Assessment
$669,761 CAD
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