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Vacant-User

1001 South Burlington Drive

1001 S Burlington Dr, Muncie, IN 47302

Listing Price: $600,000

Gross SF
47,056
Price/Gross SF
$12.75
Lot Size
2.36 acres
Year Built
1953
Rentable SF
47,056

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a portfolio of properties located at 1001 South Burlington Drive, 2040 East Willard Street, and 1012 South Mock Avenue in Muncie, Indiana. The subject property consists of approximately 47,056 square feet of space and is situated on 2.36 acres of land. The asset features five street-facing dock-high doors and one grade-level door for efficient loading and unloading. Given that the property can be easily divisible, the asset offers investors with a multi-tenant redevelopment opportunity. As a specialty-use cold storage facility, the asset can be acquired at below replacement cost. Located just 1.7 miles from Interstate 35, the properties can efficiently accommodate the transportation of goods. The subject properties are situated within the Delaware County submarket. At 4.9 percent, the industrial vacancy rate has remained relatively stable since the start of the coronavirus pandemic. Thanks in part to a lack of new supply in recent years, industrial rent growth hit a new 20-year high in 2021 at 6.6 percent. Over the last decade, Delaware County’s inventory has remained stagnant at just under 4.6 million square feet. However, the construction of the 862,000-square-foot CANPACK facility is set to increase the inventory by nearly 19 percent this year (CoStar). As one of the largest manufacturers of beverage packaging, CANPACK’s presence will have a large impact on Delaware County. Indianapolis is the state capital of Indiana, and the metro area is home to 2.1 million residents. Marion County is home to the city of Indianapolis, which contains a population of approximately 863,200 people. With nearly 50 percent of the U.S. population being accessible within a one-day drive, Indianapolis is a premier distribution hub. Major industries include trade, transportation, utilities, professional and business services, education, and health services. In addition to having two major league sports teams, the Indianapolis Colts and Indiana Pacers, the city hosts the high-profile Indianapolis 500 and Brickyard 400. While the median household income in metro Indianapolis is on par with the national average, the cost of living is about 16 percent lower.

Investment Highlights

  • Highly Divisible Properties with Multi-Tenant Opportunity
  • Specialty-Use Cold Storage Facilities Priced Below Replacement Costs
  • Located 1.7 Miles from I-35 to Allow for Ease of Transport
  • Five Street-Facing Dock Doors and a Grade Door for Efficient Loading / Unloading
  • Located in a Market with a Vacancy Rate of 4.8%

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

Vacant-User

1001 South Burlington Drive

Listing Price: $600,000

Gross SF
47,056
Price/Gross SF
$12.75
Lot Size
2.36 acres
Year Built
1953
Rentable SF
47,056

Investment Highlights

  • Highly Divisible Properties with Multi-Tenant Opportunity
  • Specialty-Use Cold Storage Facilities Priced Below Replacement Costs
  • Located 1.7 Miles from I-35 to Allow for Ease of Transport
  • Five Street-Facing Dock Doors and a Grade Door for Efficient Loading / Unloading
  • Located in a Market with a Vacancy Rate of 4.8%

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a portfolio of properties located at 1001 South Burlington Drive, 2040 East Willard Street, and 1012 South Mock Avenue in Muncie, Indiana. The subject property consists of approximately 47,056 square feet of space and is situated on 2.36 acres of land. The asset features five street-facing dock-high doors and one grade-level door for efficient loading and unloading. Given that the property can be easily divisible, the asset offers investors with a multi-tenant redevelopment opportunity. As a specialty-use cold storage facility, the asset can be acquired at below replacement cost. Located just 1.7 miles from Interstate 35, the properties can efficiently accommodate the transportation of goods. The subject properties are situated within the Delaware County submarket. At 4.9 percent, the industrial vacancy rate has remained relatively stable since the start of the coronavirus pandemic. Thanks in part to a lack of new supply in recent years, industrial rent growth hit a new 20-year high in 2021 at 6.6 percent. Over the last decade, Delaware County’s inventory has remained stagnant at just under 4.6 million square feet. However, the construction of the 862,000-square-foot CANPACK facility is set to increase the inventory by nearly 19 percent this year (CoStar). As one of the largest manufacturers of beverage packaging, CANPACK’s presence will have a large impact on Delaware County. Indianapolis is the state capital of Indiana, and the metro area is home to 2.1 million residents. Marion County is home to the city of Indianapolis, which contains a population of approximately 863,200 people. With nearly 50 percent of the U.S. population being accessible within a one-day drive, Indianapolis is a premier distribution hub. Major industries include trade, transportation, utilities, professional and business services, education, and health services. In addition to having two major league sports teams, the Indianapolis Colts and Indiana Pacers, the city hosts the high-profile Indianapolis 500 and Brickyard 400. While the median household income in metro Indianapolis is on par with the national average, the cost of living is about 16 percent lower.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

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