811 W MCGALLIARD RD MUNCIE IN 47303-1756
Fully Vacant 14,982 SF Retail Center on Muncie's Primary Corridor — 34,357 AADT | Value-Add or Owner
Marketing description
811 Center is a fully vacant 14,982 SF multi-tenant retail center on W McGalliard Rd, Muncie's primary retail corridor (34,357 AADT), down the road from the Muncie Mall redevelopment. Five suites ranging from 720 to 6,525 SF allow lease-up across service, food, medical, office-retail, and daily-needs users without dependence on a single anchor.
Ownership completed a 2025 façade refresh and roughly $300,000 in interior renovations; suites are white-boxed or in final stages, delivering market-ready space for immediate occupancy. The site offers 69 parking spaces (4.61 per 1,000 SF) on 0.99 acres.
Vacant delivery lets a buyer reset lease economics to current-market NNN with expense recoveries. Pro forma stabilized rent of $163,951 ($10.94/SF blended NNN) represents a 12.1% unleveraged stabilized yield on the $1,300,000 basis. Northern Muncie retail vacancy of 3.5% (CoStar) supports lease-up, and the asset also suits an owner-user occupying one suite while leasing the balance.
Investment highlights
- Fully vacant 14,982 SF strip center, 5 flexible suites (720–6,525 SF)
- 2025 façade refresh + ~$300K interior reno; suites white-boxed for immediate occupancy
- W McGalliard frontage — 34,357 AADT; N Wheeling Ave 24,048 AADT
- 69 spaces (4.61/1,000 SF) on 0.99 AC
- Northern Muncie retail vacancy just 3.5% (CoStar)
- Pro forma stabilized rent $163,951 / 12.1% unleveraged stabilized yield on basis
- Value-add or owner-user; vacant delivery enables market NNN reset with recoveries
- Adjacent to the Muncie Mall redevelopment shifting demand to open-air frontage
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