REIT Sale | Former Johnny Carino’s Restaurant | 31K VPD | 1.6 Acres

Highlights:

• 6,508 SF Freestanding Restaurant (Former Johnny Carino’s) Available at Significant Discount Below Replacement Cost
• 31,077 VPD Traffic Count Frontage and Visibility along W McGalliard Rd; Near Signalized Intersection of N Wheeling Ave (+23K VPD); 1.5-Mi to I-44
• Neighboring National Retailers: Lowe's, Target, Meijer, Menards, Walmart, Kohl's, Hobby Lobby, Best Buy, AMC Theatres, Chase, Five Guys, Petsmart, Aldi, Chick-fil-A
• Demand Drivers: Ball State University (1.2-miles), Delaware County Regional Airport (1.9-miles), IU Health Ball Memorial Hospital (2.7-miles)
• Dense Demographics with ±81,031 People and Annual Household Income of ±$69,416 within a 5-Mile Radius
• Zoned BV, Variety Business with a Variety of Commercial Uses

Description:

RI Marketplace Online Auction June 23-25, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2500/reit-sale-former-johnny-carino-s-restaurant-31k-vpd-1.6-acres?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2500

Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 1101 West McGalliard Road, in Muncie, Delaware County, IN (the “Property”). Formerly occupied by Johnny Carino’s, the Property is being offered significantly below replacement cost, presenting a compelling opportunity for owner-users or investors to acquire a high-visibility, strategically located asset at a highly attractive basis. FIRST BID MEETS RESERVE!

Built in 2003, the Property comprises a one-story, ±6,508-square-foot free-standing restaurant/retail building situated on an expansive ±71,381 SF (±1.639 AC) parcel, with 117 surface parking spaces. The site features ±173’ feet of frontage along McGalliard Rd with over 31k vehicles passing the site daily (VPD) and one point of ingress/egress for Carino's. The Property was previously leased to Johnny Carino's on a triple-net (NNN) basis and presents owner-users or investors with the ability to unlock significant value-add potential through lease-up at long-term market rates (CoStar estimated retail rents of $10-13/SF NNN). Zoned BV, Variety Business, the Property allows for flexible retail and commercial uses, appealing to a wide range of end-users.

This former casual dining restaurant is strategically located along West McGalliard Road (SR-332) in Muncie’s primary retail corridor, offering ±210 feet of frontage just off the intersection with Wheeling Avenue (±23,620 VPD). The Property is positioned less than ±3 miles from Ball State University and Downtown Muncie, and is just ±6 miles from Delaware County Regional Airport, providing excellent regional accessibility. The surrounding area features a dense concentration of national retailers, including Walmart Supercenter, Target, Kohl’s, Meijer, Menards, Hobby Lobby, and AMC Theatres, drawing consistent daily traffic to the corridor. The area is anchored by major institutional demand drivers, most notably Ball State University with an enrollment of ±20,000 students, and IU Health Ball Memorial Hospital, a 350-bed regional healthcare provider with more than 2,000 employees. Additional nearby institutions include Muncie Central High School, Minnetrista Museum & Gardens, and Northwest Plaza Shopping Center. The site benefits from direct access to surrounding residential neighborhoods and proximity to key east-west and north-south routes such as Wheeling Avenue, Tillotson Avenue, and SR-332, providing strong connectivity across Muncie and the greater Delaware County area. With ±81,031 residents and an average household income of ±$69,416 within a 5-mile radius, and a daytime population bolstered by students, hospital staff, and retail employees, the area supports stable demand for retail, restaurant, and service-based uses. The Property’s visibility, access, and proximity to top educational, medical, and commercial anchors make it a compelling opportunity for a variety of owner-users or investors seeking long-term upside in a proven trade corridor.

Bryan P. Jackson
c/o Fisher Auction Company Inc.
License: AU09100175

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