Mug-n-Bun owner seeks buyer for iconic Speedway drive-in

Mug-n-Bun drive-in, 5211 W. 10th St., originally opened as a Frostop location in 1956. (Google Maps image)

Root beer at the Mug-n-Bun drive-in is a beverage tradition in Speedway that rivals milk awarded to Indianapolis 500 winners. Now, a new owner is being sought to continue the restaurant’s legacy.

According to a listing by Re/Max Advanced Realty, Mug-n-Bun is for sale with an asking price of $2,199,000.

Electrician Jay Watson purchased the restaurant for $1.2 million in 1998. Mug-n-Bun, 5211 W. 10th St., originally opened as a Frostop drive-in in 1956. The Mug-n-Bun name was added in the 1960s, when the business exited the Frostop chain.

The for-sale listing includes four parcels of land, the drive-in restaurant, the Mug-n-Bun Pizza shop, an indoor seating area added in 2009 and a residence. Furniture, fixtures and equipment are included in the offering.

Known for curbside service, breaded tenderloin sandwiches, hand-dipped onion rings and made-on-site root beer, Mug-n-Bun was featured on a 2018 episode of Travel Channel series “Man vs. Food.”

The retro restaurant accepted only cash until January 2010, when customers were allowed to make purchases with credit and debit cards.

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