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27332639
27332640

2501 S. Madison St., Muncie, IN 47302 For Sale

IS
CA 01497897
CBRE - Orange County
ML
CA 01984445
CBRE - Orange County
CBRE - Orange County
Listed by CBRE - Orange County
$2,769,000
289 days on market
Updated 68 days ago

Wendy’s | Muncie (S Madison St.), IN

Details
APN 18-11-22-161-003.000-003
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 2,768
Cap Rate 6.50%
NOI $180,000
Tenancy Single
Brand/Tenant Wendy's
Lease Type NNN
Lease Term 20
Lease Expiration 04/30/2045
Remaining Term 18.8
Rent Bumps Yes
Lease Options 4 - 5 year options
Broker Co-Op Yes
Year Built 1978
Year Renovated 2005
Acreage 0.770
Parking Spaces 52 spaces
Parking per 1,000 SqFt 18.79
Investment Type Net Lease
Lease Commencement 04/21/2025
Ground Lease No
Ownership Fee Simple

Retail | 6.50% CAP | 2,768 SqFt

Investment highlights

The owner of WENZAK INDIANA, INC. (tenant), is a Wendy’s Hall-of-Famer that worked for corporate Wendy’s 40 years ago and has been a franchisee for 30 years. He currently operates ~42 Wendy’s restaurants and 7 Wingstop locations.

There are currently just under twenty (19.6) years remaining on the lease term, plus four (4), five (5) year options

This site has a proven operational history since 1978 and reports above average sales. Contact broker for details.

The lease structure is triple net (NNN), with zero landlord responsibilities.

The lease provides for 10% rental increases every five (5) years.

Wendy’s is located across the street from Honeywell’s manufacturing site where they design and build industrial burners that serve a variety of use cases including heating commercial buildings to dry paint on cars.

The subject property is located 3 miles (9 minutes) from Ball State University, a nationally recognized research and teaching institution with more than 20,000 students on a 790-acre campus.

There are 76,002 residents located in the five (5) mile demographic ring.

The subject property is surrounded by several popular retailers including Arby’s, KFC, Shell, Subway, and O’Reilly Auto Parts.

Muncie, IN, is strategically located in east-central Indiana, approximately an hour’s drive from Indianapolis. With access to major highways such as I-69, U.S. 35, and State Road 67, the city provides strong connectivity to regional and national markets.

Listing Contacts

IS
CA 01497897
CBRE - Orange County
ML
CA 01984445
CBRE - Orange County
CBRE - Orange County
Listed by CBRE - Orange County

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$180,000.00
$15,000.00/mo

Valuation Metrics

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DSCR
6.5%
Cap Rate
6.5%
ROI

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