Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    NNN Retail Investment Opportunity Title is generated by Realmo AI

    2015 S Western Ave, Marion, IN

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    NNN leased retail property with long-term tenant in place.

    Type:RETAIL
    Property size:
    1,750 SF
    Lot size:
    0.53 Acres
    Price / SF:
    $1,092/SF
    Added:
    Jun 17, 2025
    Days on Market:
    345
    Last Refresh:
    May 20 at 9:05 pm

    Property Features for 2015 S Western Ave

    General Information

    Standard status
    Active
    Size
    1,750 SF
    Lot size
    0.53 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Jordan Cooper
    Jordan Cooper

    Listing agent Jordan Cooper

    Listing office Linville Team Partners

    Listing date Jun 17, 2025

    Source Moodyscre

    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 Linville Team Partners

    HighLights

    • Absolute NNN Lease: Enjoy zero landlord responsibilities.
    • Long‑Term Lease: Benefit from a 14+ year lease with Strickland’s Enterprises, LLC.
    • Rent Escalations: 10% rent increase every 5 years.
    • Renewal Options: Features four 5‑year renewal options.
    • Rent Commencement: Lease commenced April 22, 2024.
    • Bonus Depreciation Eligible: Consult your tax advisor.

    Overview

    This retail property is leased to Strickland’s Enterprises, LLC. The rent commencement date was April 22, 2024, and the lease expires on March 31, 2039, leaving over 14 years remaining on the lease term. The lease is absolute NNN, with zero landlord responsibilities. The lease includes four 5-year renewal options and rent escalations of 10% every 5 years. The property is 1750 square feet and may be eligible for bonus depreciation; consult your tax advisor for details.
    Property Profile Location Intelligence

    Current Use by Public Records

    Strickland Brothers 10 ... Auto Repair Shop Freedom Day Fireworks Department Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Grant
    State
    Indiana
    Longitude
    -85.6731
    Latitude
    40.5424

    Nearby Similar for Sale

    • $2,500,000
      7,053 SF

      Historic Apartments in Downtown Marion

      Unique apartments in Marion's Riverfront District with bar/restaurant potential.
      215 E 3Rd Street, Marion, IN 46952-4077
      View Details
    • $375,500

      Restaurant/Bar with Apartments and Patio

      Restaurant/bar with apartments, liquor license, patio, and parking.
      117 S Branson Street, Marion, IN 46952
      View Details
    • $100,000
      1,560 SF

      All-Brick Duplex in Marion, Indiana

      Low-maintenance, single-level duplex with two units ready for immediate cashflow.
      3625 S Landess Street, Marion, IN 46953
      View Details
    • $104,000
      780 SF

      All-Brick Duplex in Marion, IN

      Low-maintenance, all-brick duplex with two units for immediate cash flow.
      3627 S Landess Street, Marion, IN 46953
      View Details
    • $229,900

      Retail and Service Property

      Retail front and service area with recent upgrades.
      2021 S Western Avenue, Marion, IN 46953
      View Details
    • $90,000
      1,780 SF

      Marion IN Triplex For Sale

      Triplex with garage and alley access in Marion, Indiana.
      1926 W 11th Street, Marion, IN 46953
      View Details
    • $94,900

      High Traffic Location Office Building

      Professional office building with high visibility and ample parking.
      1328 W 2ND Street, Marion, IN 46952
      View Details
    • $45,000
      2,304 SF

      Marion Duplex with Long-Term Renters

      Duplex with long-term renters; landlord pays all utilities.
      1522 S Washington Street, Marion, IN 46953
      View Details
    • $28,500
      1,089 SF

      Commercial Building with Restaurant Potential

      1,089 SF commercial building suitable for restaurant or bar.
      2402 S Home Avenue, Marion, IN 46953
      View Details
    • $90,000

      Former Church with Finished Basement

      Open concept building, full finished basement, corner lot.
      324 W 10th Street, Marion, IN 46953
      View Details
    • $8,000,000
      15,000 SF

      Historic Building with Commercial Space

      Renovated historic building featuring commercial space and market-rate apartments.
      402 S Washington St, Marion, IN
      View Details
    • $525,000
      10,600 SF

      Retail/Office Building For Sale

      83% occupied retail/office building with leases in place.
      1001 N Western Ave, Marion, IN 46952
      View Details

    FAQs

    What type of property is this?
    NNN property - NNN leased retail property with long-term tenant in place.
    Where is this nnn property located?
    The property is located at 2015 S Western Ave Marion, IN.
    What is the asking price?
    The asking price for this property is $1,911,756.
    What are key features of this property?
    This property features: Absolute NNN Lease: Enjoy zero landlord responsibilities.; Long‑Term Lease: Benefit from a 14+ year lease with Strickland’s Enterprises, LLC.; Rent Escalations: 10% rent increase every 5 years.
    (303) 717-3160 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jordan Cooper
    Jordan Cooper
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    2015 S Western Ave, Marion, IN
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!