Free-Standing Retail
For Sale
$839,900
3201 S Adams Street, Marion, IN 46953
Free-standing retail building with a long-term Family Dollar tenant on a high-visibility Adams Street corridor.
Property Size7,467 SF
Days on Market106
Property Features for 3201 S Adams Street
General Information
Standard status
Active
Size
7,467 SF
Zoning
commercial
Net Operating Income
$71,900
Building Details
Building Size
7,467 SF
Listing Agency:
Kline Properties, Inc.
(317) 640-3360
Listed By:
Stephan Kline
(317) 640-3360
Source:
Evrealestate
Added: May 11
Changed: Aug 23
Last Checked: Aug 23 at 7:16AM
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 Kline Properties, Inc.
Investment Insights
Based on property information with market context.
This free-standing commercial retail building offers versatile retail space on a 0.46-acre lot. The property includes a long-term tenant, Family Dollar, occupying the site since 2001.
Situated on a high-visibility S Adams Street corridor in Marion, Indiana, the location is positioned for retail traffic and day-to-day storefront activity.
As a retail property for sale, this asset is structured for both user-occupants and investors seeking a commercial storefront with established tenancy.
Situated on a high-visibility S Adams Street corridor in Marion, Indiana, the location is positioned for retail traffic and day-to-day storefront activity.
As a retail property for sale, this asset is structured for both user-occupants and investors seeking a commercial storefront with established tenancy.
Key Highlights
- Free‑standing commercial retail building at 3201 S Adams St, Marion, IN 46953
- 7,467 SF of versatile retail space on a 0.46‑acre lot
- Long‑term tenant: Family Dollar has been in place since 2001
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
$70,157
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
8.35%
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%
$1,403,140
$1.4M
Cap Rate 7%
$1,002,243
$1.0M
Cap Rate 9%
$779,522
$779.5K
Market Conditions
NOI Build-Up for 7,467 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
$104.8K $14.04/SF
− Vacancy
−$4.6K −$0.62/SF
EGI
$100.2K $13.42/SF
− OpEx
−$30.1K −$4.03/SF
NOI
$70.2K $9.40/SF
Area
Grant County, IN
Vacancy
4.40%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,403,140
Cap Rate 7%
$1,002,243
Cap Rate 9%
$779,522
Alternative Uses
Best Use
Retail
$1.00M
$877.0K – $1.17M
NOI $70,157 @ 7.0% cap · market cap 8.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,509 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Phillips 66
Shops & Services
2,260 visits/mo
0.2 miles
Family Dollar
Shops & Services
850 visits/mo
0.1 miles
Demographics for 46953, IN
22,781
Population
10,095
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
84%
High-School Grad
85.6 sq mi
ZIP Area
266
Density / Sq Mi
$46,224
Median Household Income
$25,969
Median Earnings
$800
Median Rent
$88,400
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?
Retail space - Free-standing retail building with a long-term Family Dollar tenant on a high-visibility Adams Street corridor.
Where is this retail space located?
The property is located at 3201 S Adams Street Marion, IN.
What is the asking price?
The asking price for this property is $839,900.
What are key features of this property?
This property features: Free‑standing commercial retail building at 3201 S Adams St, Marion, IN 46953; 7,467 SF of versatile retail space on a 0.46‑acre lot; Long‑term tenant: Family Dollar has been in place since 2001
