Flex Space with Warehouse and
New
For Sale
$650,000
1322 N Baldwin Avenue, Marion, IN 46952
COMMERCIAL, Marion, IN
Property Size5,202 SF
Lot Size1.02 Acres
Price / SF$124.95
Days on Market2
Property Features for 1322 N Baldwin Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
City
Directions
Corner of St Rd 15, St RD 9, Wabash Ave
Subdivision
Grant County
Standard status
Active
APN
27-02-31-203-032.000-002
Lot size
1.02 Acres
Taxes and HOA fees
Tax Year
25
Tax Description
PT NW SEC 31; 1.02A Split 11-24-03 #70577 Split 08-17-05 #77299
Tax Annual Amount
6330
Legal Description
PT NW SEC 31; 1.02A Split 11-24-03 #70577 Split 08-17-05 #77299
Utilities
Cooling system
Central Air
Building Details
Year built
1954
Flooring type
Concrete
Roof type
Rubber
Listing Agency:
RE/MAX Realty One · RE/MAX International
(765) 454-7300
Listed By:
Sally Jenks · License #RB14036978
(765) 661-1865
Added: Oct 13
Last Checked: Oct 14 at 7:06PM
MLS# 202642489
Copyright © 2026 REALTORS Association of Central Indiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,202-square-foot flex property brings together office space, a work area, display space, and a warehouse, with an overhead door for access between the interior and exterior. Concrete flooring and central air are installed, and the rubber roof is insulated and new. The 1.02-acre site has paved parking and three points of ingress and egress.
The property occupies a corner position facing Baldwin Avenue, Wabash, State Road 15, and State Road 9 in Marion. Walgreens, Wendy’s, Lowden Jewelers, and Comfort Suites are across the street. General Business zoning applies. The building dates to 1954 and is leased through July 10, 2028; possession is negotiable. Fixtures belong to the tenant.
The property occupies a corner position facing Baldwin Avenue, Wabash, State Road 15, and State Road 9 in Marion. Walgreens, Wendy’s, Lowden Jewelers, and Comfort Suites are across the street. General Business zoning applies. The building dates to 1954 and is leased through July 10, 2028; possession is negotiable. Fixtures belong to the tenant.
Key Highlights
- 5,202 square feet with office, warehouse, workspace, and display areas
- Overhead door, concrete flooring, and central air
- New insulated rubber roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,349
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$746,980
$747.0K
Cap Rate 7%
$533,557
$533.6K
Cap Rate 9%
$414,989
$415.0K
Market Conditions
NOI Build-Up for 5,202 SF
Gross rent
$49.3K $9.48/SF
− Vacancy
−$5.4K −$1.03/SF
EGI
$43.9K $8.45/SF
− OpEx
−$6.6K −$1.27/SF
NOI
$37.3K $7.18/SF
Area
Grant County, IN
Vacancy
10.90%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$746,980
Cap Rate 7%
$533,557
Cap Rate 9%
$414,989
Alternative Uses
Best Use
Warehouse
$533.6K
$466.9K – $622.5K
NOI $37,349 @ 7.0% cap · market cap 5.75%
Second Best
Flex RnD
$475.2K
$415.8K – $554.4K
NOI $33,261 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$1.01M
$884.0K – $1.18M
NOI $70,718 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Under-served
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Moe's Southwest Grill — 816 N Baldwin Ave, Marion, IN 46952
Frequently Asked Questions
What type of property is this?
Flex space - A flexible commercial layout combines office, work, display, and warehouse areas with an overhead door.
Where is this flex space located?
The property is located at 1322 N Baldwin Avenue Marion, IN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 5,202 square feet with office, warehouse, workspace, and display areas; Overhead door, concrete flooring, and central air; New insulated rubber roof
