Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3220 S Washington St Marion, IN 46953

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Premier leasing opportunity for retail or commercial ventures.

    Type:Retail
    Added:
    Aug 28, 2020
    Days on Market:
    2057
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 3220 S Washington St

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 3220 S Washington St Contact us

    We can help!

    Listing Contact
    Matthew Hill

    Listing agent Matthew Hill License #FLBO

    Listing office Legacy Commercial Properties

    Listing date Aug 28, 2020

    Source Crexi

    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 Legacy Commercial Properties

    Overview

    Retail/Commercial Space in Marion

    Located on S. Washington Blvd. in Marion, this property offers a leasing opportunity for retail or commercial ventures. The property features a versatile layout, expansive storefront windows, and ample parking. The location is intended to attract foot traffic and enhance brand exposure. The space includes modern amenities, customizable interiors, and a professional exterior. The adaptable layout allows for efficient floor planning and product displays.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Grant
    State
    Indiana
    Longitude
    -85.661009
    Latitude
    40.531475

    Nearby Similar for Lease

    • Contact for pricing

      Marion Office Space For Rent

      Well-maintained office space with bypass frontage in Marion, Indiana.
      1125 N Baldwin Avenue, Marion, IN 46952
      View Details
    • $1.00/mo

      Retail and Service Space Available

      Retail and service area with overhead door in rear.
      2021 S WESTERN Avenue, Marion, IN 46953
      View Details
    • Contact for pricing

      Mixed-Use Property in Marion, Indiana

      Mixed-use property with office spaces available for lease in Marion.
      3742 S WESTERN Avenue, Marion, IN 46953
      View Details
    • Contact for pricing

      Versatile Retail/Office Space Available

      Commercial office space for lease with adaptable workspace and apartment.
      304 S Baldwin Ave, Unit 306, Marion, IN 46052
      View Details
    • $5/mo

      Industrial Property with Heavy Power

      Move-in ready industrial space with heavy power and truck docks.
      2703 W 9th St, Marion, IN
      View Details
    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      3820 S Western Ave, Marion, IN 46953
      View Details
    • $6/mo

      Industrial Flex Space For Lease

      Turnkey industrial flex space with warehouse and office areas.
      1804 W 2nd St, Marion, IN
      View Details
    • $10/mo

      Waterfront Office Park Office Space

      Multi-tenant building in Marion's historic Riverwalk District.
      321-325 East 2nd Street, Marion, IN
      View Details
    • Contact for pricing

      Drive-Thru Restaurant Opportunity

      672 SF retail space with drive-thru potential for lease.
      702 S Baldwin Ave, Marion, IN
      View Details
    • Contact for pricing

      Retail Space in Walmart Shadow

      Retail space available in Walmart shadow center with high traffic.
      3248 S Western Ave, Marion, IN
      View Details
    • Contact for pricing

      Retail Space in Walmart Center

      Retail spaces available within a Walmart shadow center.
      3304-3318 S Western Ave, Marion, IN
      View Details
    • $16/mo

      Retail Space Available For Lease

      Retail space available for lease, totaling 4,800 square feet.
      3164 S Western Ave, Marion, IN
      View Details

    FAQs

    What type of property is this?
    Retail space - Premier leasing opportunity for retail or commercial ventures.
    Where is this retail space located?
    The property is located at 3220 S Washington St Marion, IN.
    What are key features of this property?
    This property features: Premier leasing opportunity for retail or commercial ventures.; High visibility and convenience due to ample parking and expansive storefront windows.; Strategic location attracts steady foot traffic and enhances brand exposure.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matthew Hill
    Real Estate License ID: FLBO
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!