Freestanding Flex Space with High
For Sale
$350,000
418 E 3rd St, Marion, IN 46952
Commercial Business zoning, dedicated parking, and pylon signage support a visible, adaptable property configuration.
Property Size3,650 SF
Lot Size0.50 Acres
Days on Market34
Property Features for 418 E 3rd St
General Information
Standard status
Active
Size
3,650 SF
Class
C
Lot size
0.50 Acres
Property subtype
Industrial - Manufacturing
Zoning
CB
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$350,000
Building Details
Building Size
3,650 SF
Year Built
1973
Listing Agency:
The Zacher Company
Listed By:
Dan Gabbard · License #RB18001659
(260) 704-5409
Source:
Commercialcafe
Added: Aug 14
Changed: Sep 13
Last Checked: Sep 15 at 5:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Zacher Company
Investment Insights
Based on property information with market context.
This freestanding flex space offers an open interior layout with high ceilings and a configuration suited to multiple occupants. The property encompasses approximately half an acre and includes a large dedicated parking lot, along with pylon signage for on-site identification. Commercial Business (CB) zoning is in place, and the building is positioned directly on SR 18.
A residential community of approximately 25 units is located across the street, adding established nearby residential context. The open floor plan and multi-tenant capabilities provide flexibility for a range of commercial arrangements without changing the building’s existing freestanding format.
A residential community of approximately 25 units is located across the street, adding established nearby residential context. The open floor plan and multi-tenant capabilities provide flexibility for a range of commercial arrangements without changing the building’s existing freestanding format.
Key Highlights
- Freestanding building on approximately half an acre
- Open floor plan with high ceilings
- Commercial Business (CB) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,337
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$466,740
$466.7K
Cap Rate 7%
$333,386
$333.4K
Cap Rate 9%
$259,300
$259.3K
Market Conditions
NOI Build-Up for 3,650 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.3K $11.04/SF
− Vacancy
−$4.4K −$1.20/SF
EGI
$35.9K $9.84/SF
− OpEx
−$12.6K −$3.44/SF
NOI
$23.3K $6.39/SF
Area
Grant County, IN
Vacancy
10.90%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$466,740
Cap Rate 7%
$333,386
Cap Rate 9%
$259,300
Alternative Uses
Best Use
Flex RnD
$333.4K
$291.7K – $389.0K
NOI $23,337 @ 7.0% cap · market cap 6.67%
Second Best
Industrial
$308.3K
$269.8K – $359.7K
NOI $21,581 @ 7.0% cap · market cap 6.17%
Theoretical Best
Specialty Retail
$708.8K
$620.2K – $827.0K
NOI $49,619 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46952, IN
18,996
Population
8,832
Households
2.2
Avg Household Size
46
Median Age
25%
College-Educated
89%
High-School Grad
105.5 sq mi
ZIP Area
180
Density / Sq Mi
$53,481
Median Household Income
$39,246
Median Earnings
$785
Median Rent
$129,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial Business zoning, dedicated parking, and pylon signage support a visible, adaptable property configuration.
Where is this flex space located?
The property is located at 418 E 3rd St Marion, IN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Freestanding building on approximately half an acre; Open floor plan with high ceilings; Commercial Business (CB) zoning
