Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    363 S Prospect St Marion, OH 43302

    View on Map
    Sponsored
    Picture of Residential land & home lots at S Prospect St 363, Marion, OH
    For Sale
    Contact for pricing

    LAND - Marion, OH

    Lot size:
    0.17 Acres
    Days on Market:
    21
    Last Refresh:
    Mar 13 at 7:06 pm

    Property Features for 363 S Prospect St

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    APN
    12-3040203.100
    Lot size
    0.17 Acres

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    Ashleigh Everly

    Real of Ohio (717) 312-3451

    Listing agent Ashleigh Everly (740) 361-4304

    Listing date Feb 20, 2026

    MLS# 226004917

    Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Residential Lot in Established Neighborhood

    This 0.17-acre lot is located in an established residential neighborhood in Marion, Ohio. The property offers an opportunity to build a tiny home, starter house, or add a pole barn. The location provides convenient access to local schools, shopping, and other amenities while maintaining a quiet residential setting.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Marion
    State
    Ohio
    Longitude
    -83.130392
    Latitude
    40.583132

    Nearby Similar for Sale

    • $55,000
      3,312 SF

      Value-Add Triplex on Corner Lot

      Triplex on 0.14 acres with value-add potential.
      569 E Church St, Marion, OH 43302
      View Details
    • New
      $170,000
      600 SF

      Mixed-Use Building: Investor Opportunity

      Versatile mixed-use building with commercial space and residential units.
      645 Indiana Ave, Marion, OH 43302
      View Details
    • $74,900
      0.11 Acres

      Dual-Design Duplex: Income and Opportunity

      Duplex with income potential and renovation opportunity in Marion, OH.
      354 Bellefontaine Ave, Marion, OH 43302
      View Details
    • $129,900
      0.04 Acres

      Marion, OH Duplex For Sale

      Duplex with immediate occupancy in Marion, Ohio.
      229 W Columbia St, Marion, OH 43302
      View Details
    • $105,000
      0.24 Acres

      Marion, OH Multifamily Property

      Multifamily property for sale in Marion, Ohio.
      438 N Prospect St, Marion, OH 43302
      View Details
    • $169,000
      0.16 Acres

      Marion, OH Duplex Opportunity

      Updated duplex with two units, porches, and full basement.
      213 Sharp St, Marion, OH 43302
      View Details
    • $159,900
      0.21 Acres

      Vacant Duplex in Marion, OH

      Rent-ready duplex with income potential and a two-car garage.
      557 Summit St, Marion, OH 43302
      View Details
    • $120,000
      0.13 Acres

      Income-Producing Duplex in Marion, OH

      Duplex with updated units, generating $18,300 annual rental income.
      374 Nunin Ct, Marion, OH 43302
      View Details
    • $214,900
      0.26 Acres

      Marion Duplex: Cash Flow Ready

      Cash flowing duplex with tenant in place in Marion.
      482 King Ave, Marion, OH 43302
      View Details
    • $260,000
      3,484 SF

      Historical Gem in Marion, Ohio

      Historical property with unique architectural details and endless opportunities.
      265 S State St, Marion, OH 43302
      View Details
    • Contact for pricing
      4,130 SF

      Former Restaurant on Main Corridor

      Restaurant property for sale near Ohio State University Marion.
      1050 Mount Vernon Ave, Marion, OH 43302
      View Details
    • $524,900
      3,840 SF

      Marion Restaurant - Turnkey Opportunity

      Established Restaurant, High Traffic Location
      1565 Marion-Waldo Rd, Marion, OH 43302
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.17-acre lot in Marion, OH, ideal for building.
    Where is this residential land & home lot located?
    The property is located at 363 S Prospect St Marion, OH.
    What is the asking price?
    The asking price for this property is $15,000.
    What are key features of this property?
    This property features: - Convenient location in the heart of Marion.; - Opportunity to build a tiny home, starter house, or add a pole barn.; - .17-acre lot in an established neighborhood.
    (740) 361-4304
    Request Owner's contact information
    363 S Prospect St Marion, OH 43302
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    363 S Prospect St
    Marion, OH 43302
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    363 S Prospect St Marion, OH 43302
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ashleigh Everly
    (740) 361-4304
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!