Building Details

Building Size 3,650 SF

Year Built 1973

Listing Agency: The Zacher Company

Listed By: Dan Gabbard · License #RB18001659 Show Phone

Source: Commercialcafe

Added: Aug 14 Changed: Sep 22 Last Checked: Oct 5 at 3:40PM

Report an Issue

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 The Zacher Company

Investment Insights

Based on property information with market context.

This freestanding flex space offers an open interior layout with high ceilings and a configuration suited to multiple occupants. The property encompasses approximately half an acre and includes a large dedicated parking lot, along with pylon signage for on-site identification. Commercial Business (CB) zoning is in place, and the building is positioned directly on SR 18.

A residential community of approximately 25 units is located across the street, adding established nearby residential context. The open floor plan and multi-tenant capabilities provide flexibility for a range of commercial arrangements without changing the building’s existing freestanding format.

Key Highlights

• Freestanding building on approximately half an acre
• Open floor plan with high ceilings
• Commercial Business (CB) zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,337

Cap Rate

6.67%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$466,740 $466.7K

Cap Rate 7%

$333,386 $333.4K

Cap Rate 9%

$259,300 $259.3K

Market Conditions

NOI Build-Up for 3,650 SF

Gross rent

$40.3K $11.04/SF

− Vacancy

−$4.4K −$1.20/SF

EGI

$35.9K $9.84/SF

− OpEx

−$12.6K −$3.44/SF

NOI

$23.3K $6.39/SF

Area

Grant County, IN

Vacancy

10.90%

Lease Rate

$11.04 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$466,740

Cap Rate 7%

$333,386

Cap Rate 9%

$259,300

Alternative Uses

Best Use

Flex RnD

$333.4K

$291.7K – $389.0K (±1% cap)

NOI $23,337 @ 7.0% cap · market cap 6.67%

Second Best

Industrial

$308.3K

$269.8K – $359.7K (±1% cap)

NOI $21,581 @ 7.0% cap · market cap 6.17%

Theoretical Best

Specialty Retail

$708.8K

$620.2K – $827.0K (±1% cap)

NOI $49,619 @ 7.0% cap · market cap 14.18%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Our Contact Info Tanning Salon Common Grounds Lab Production Facility Tanner And Tanner Hotel & Motel

Suggested Use

Top Pick Kitchen & Bath Showroom Gym & Fitness Center Parking Lot & Garage Accounting Firm Furniture & Home Goods Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

696

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

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 Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Flex Space with Attached Workshop

3246 S Poplar St, Marion, IN 46953

$97,000

1,586 SF

View details

Two-Story Clear-Span Flex Space

222 W 2nd St, Marion, IN 46952

Contact for pricing

11,438 SF

View details

Three-Level Storefront Building

207 S Washington St, Marion, IN 46952

$250,000

3,608 SF

View details

Renovated Apartment Building

612 W 4th Street, Marion, IN 46952

$499,000

3,610 SF

View details

Multi-Story Restaurant and Bar

1001 N Washington St, Marion, IN 46952

$349,900

4,732 SF

View details

Renovated Mixed-Use Bar Property

117 S Branson St, Marion, IN 46952

$360,000

4,670 SF

View details

Residential Income Property with Kennel Business

1611 E Loew Rd, Marion, IN 46953

$179,900

3,336 SF

View details

Auto Shop with Retail Front

2021 S Western Ave, Marion, IN 46953

$229,900

2,940 SF

View details

Leased Office Building with Multiple Suites

201 S Washington St, Marion, IN 46952

$400,000

5,412 SF

View details

Medical Office Building with Exam Rooms

1612 N Baldwin Ave, Marion, IN 46952

$349,900

6,216 SF

View details

Updated Duplex With Separate Meters

702 W 6th St, Marion, IN 46953

$59,900

3,056 SF

View details

Updated Two-Level Office Building

300 W 3rd St, Marion, IN 46952

$399,900

7,674 SF

View details

Similar Off Market Nearby

• Ever After Catering — 917 s adams st, marion, in 46953
• Obi's Barbecue — 402 S Washington St, Marion, IN 46953

Frequently Asked Questions

What type of property is this?

Flex space - Commercial Business zoning, dedicated parking, and pylon signage support a visible, adaptable property configuration.

Where is this flex space located?

The property is located at 418 E 3rd St Marion, IN.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: Freestanding building on approximately half an acre; Open floor plan with high ceilings; Commercial Business (CB) zoning