Freestanding Restaurant Space in
For Sale
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1510 West Braewick Drive, Marion, IN 46952
6,705 sq ft restaurant space in Marion, Indiana.
Property Size6,705 SF
Price / SF$178.97
Days on Market655
Property Features for 1510 West Braewick Drive
General Information
Standard status
Active
Size
6,705 SF
Class
B
Total Parking Spaces
200
Property subtype
Retail, Office, Special Purpose
Zoning
GB
Occupancy
100%
Building Details
Year Built
1993
Year Renovated
2025
Units
1
Listing Agency:
ACTIVUSRE
(317) 684-6864
Listed By:
Keith Stark · License #RB14022738
Source:
Crexi
Added: Nov 5, 2024
Changed: Aug 8
Last Checked: Aug 19 at 9:45AM
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 ACTIVUSRE
Investment Insights
Based on property information with market context.
This 6,705 sq. ft. freestanding restaurant is located in Marion, Indiana. The property features a prominent pylon sign, offering visibility and accessibility. The interior is designed for comfort and efficiency, making it suitable for various culinary concepts, from casual dining to upscale eateries. This property presents an opportunity for investors or restaurateurs looking to establish themselves in a thriving community.
Key Highlights
- Freestanding restaurant building boasting 6,705 sq. ft.
- Located in Marion, Indiana.
- High visibility with a prominent pylon sign.
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
$91,150
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
7.60%
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%
$1,823,000
$1.8M
Cap Rate 7%
$1,302,143
$1.3M
Cap Rate 9%
$1,012,778
$1.0M
Market Conditions
NOI Build-Up for 6,705 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
$127.1K $18.96/SF
− Vacancy
−$5.6K −$0.83/SF
EGI
$121.5K $18.13/SF
− OpEx
−$30.4K −$4.53/SF
NOI
$91.1K $13.59/SF
Area
Grant County, IN
Vacancy
4.40%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,823,000
Cap Rate 7%
$1,302,143
Cap Rate 9%
$1,012,778
Alternative Uses
Best Use
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,150 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
146k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 35%
Leisure 7%
Hotels & Casinos 1%
McDonald's
Dining
22,832 visits/mo
0.4 miles
Marion
Shops & Services
14,427 visits/mo
0.5 miles
Taco Bell
Dining
11,597 visits/mo
0.1 miles
AMC Marion 12
Leisure
9,987 visits/mo
0.4 miles
Dollar Tree
Shops & Services
9,776 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - 6,705 sq ft restaurant space in Marion, Indiana.
Where is this conventional restaurant located?
The property is located at 1510 West Braewick Drive Marion, IN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Freestanding restaurant building boasting 6,705 sq. ft.; Located in Marion, Indiana.; High visibility with a prominent pylon sign.
