404 W Air Park Dr 12,250 SF 100% Leased Office Building Muncie, IN 47303 $1,238,277 CAD ($101.08 CAD/SF) 7.92% Cap Rate

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 property is large enough to accommodate another structure on the 1 acre + of land north of the existing building.