Multi-Tenant Shopping
1713 Marion Mount Gilead Rd, Marion, OH 43302
For Sale
$5,300,000
B-2 zoning supports retail, office, medical, and service-oriented uses.
Property Size61,250 SF
Lot Size6.94 Acres
Price / SF$86.53
Days on Market118
Property Features for 1713 Marion Mount Gilead Rd
General Information
Standard status
Size
Lot size
Zoning
Site & Location
Anchor Co-Tenants
Traffic Count
Highway Access
Road Access
Additional Details
Cap Rate
Building Details
Tenancy
Listing Agency:
Di Lusso Real Estate
(614) 980-9400
Listed By:
Fisal Ikhmayes · License #2024003271
(614) 900-1000
Source:
Exprealty
Added: Jul 13
Changed: Nov 4
Last Checked: Nov 6 at 11:32AM
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 Di Lusso Real Estate
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Investment Insights
Based on property information with market context.
Mallard Square is a multi-tenant shopping center combining retail and office space across approximately 61,250 SF on approximately 6.94 acres. The property includes more than 20 tenants, with OhioHealth, State Farm, T-Mobile, and Jet's Pizza among the occupants. Habitat for Humanity serves as an anchor, and the center reports an 8.56% cap rate. Vacant suites provide additional leasing inventory within the existing complex.
The property fronts State Route 95, also known as Marion-Mt. Gilead Rd, a retail corridor carrying more than 30,000 vehicles per day. It is directly across from The Ohio State University-Marion and Marion Technical College, which has 4,200 students, and offers immediate access to U.S. 23. Nearby co-tenancy includes Walmart, Kohl's, Lowe's, Meijer, and Menards. B-2 Community Business District zoning supports a range of retail, office, medical, and service uses.
The property fronts State Route 95, also known as Marion-Mt. Gilead Rd, a retail corridor carrying more than 30,000 vehicles per day. It is directly across from The Ohio State University-Marion and Marion Technical College, which has 4,200 students, and offers immediate access to U.S. 23. Nearby co-tenancy includes Walmart, Kohl's, Lowe's, Meijer, and Menards. B-2 Community Business District zoning supports a range of retail, office, medical, and service uses.
Key Highlights
- Approximately 61, 250 SF multi‑tenant retail and office center
- Approximately 6.94 acres fronting State Route 95 (Marion‑Mt. Gilead Rd)
- More than 20 tenants, including OhioHealth, State Farm, T‑Mobile, and Jet's Pizza
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$238,946
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,778,920
$4.8M
Cap Rate 7%
$3,413,514
$3.4M
Cap Rate 9%
$2,654,956
$2.7M
Market Conditions
NOI Build-Up for 61,250 SF
Gross rent
$354.0K $5.78/SF
− Vacancy
−$12.7K −$0.21/SF
EGI
$341.4K $5.57/SF
− OpEx
−$102.4K −$1.67/SF
NOI
$238.9K $3.90/SF
Area
Marion County, OH
Vacancy
3.58%
Lease Rate
$5.78 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,778,920
Cap Rate 7%
$3,413,514
Cap Rate 9%
$2,654,956
Alternative Uses
Best Use
Office B
$10.75M
$9.41M – $12.54M
NOI $752,655 @ 7.0% cap · market cap 14.20%
Second Best
Retail
$3.41M
$2.99M – $3.98M
NOI $238,946 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$12.36M
$10.82M – $14.42M
NOI $865,478 @ 7.0% cap · market cap 16.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
30,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43302, OH
54,094
Population
22,483
Households
2.4
Avg Household Size
41
Median Age
13%
College-Educated
88%
High-School Grad
195.0 sq mi
ZIP Area
277
Density / Sq Mi
$53,833
Median Household Income
$36,816
Median Earnings
$853
Median Rent
$139,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- The Forum — 1581 Marion-Mt Gilead Rd, Marion, OH 43302
- Mallard Square — 1639-1651 Marion-Mt Gilead Rd, Marion, OH 43302
- Town Plaza — 1310 Mt Vernon Ave, Marion, OH 43302
- Coinstar Kiosk | Bitcoin ATM — Kroger - Columbus, 1608 Marion-Mt Gilead Rd, Marion, OH 43302
- Quick-Tag — Walmart Supercenter, 1546 Marion-Mt Gilead Rd RO, Marion, OH 43302
Frequently Asked Questions
What type of property is this?
Shopping center - B-2 zoning supports retail, office, medical, and service-oriented uses.
Where is this shopping center located?
The property is located at 1713 Marion Mount Gilead Rd Marion, OH.
What is the asking price?
The asking price for this property is $5,300,000.
What are key features of this property?
This property features: Approximately 61, 250 SF multi‑tenant retail and office center; Approximately 6.94 acres fronting State Route 95 (Marion‑Mt. Gilead Rd); More than 20 tenants, including OhioHealth, State Farm, T‑Mobile, and Jet's Pizza
