Sat on the shelf for a good while.

It was shot in 7 weeks in Hudson, Québec, from July 16th to mid-September, 1984. While set for a summer, 1985, release, producers could not find a distributor due to the second film's poor box office performance that year. It eventually had a limited release in the USA in late October, 1986, but wasn't officially released and distributed (by The Movie Store) until early January, 1987.

Cause Meatballs 2 did so poorly they couldn't find disrubution for so long, pretty sure it's in the public domain now.