Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Downtown Marion Commercial Opportunity Title is generated by Realmo AI

    114 W Church Street, Marion, OH 43302

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Prime location in downtown Marion near reimagined Main Street.

    Type:Mixed Use
    Property size:
    1,666 SF
    Lot size:
    0.18 Acres
    Price / SF:
    $210/SF
    Added:
    Nov 19, 2024
    Days on Market:
    558
    Last Refresh:
    May 12 at 8:23 pm

    Property Features for 114 W Church Street

    General Information

    Standard status
    Active
    Size
    1,666 SF
    Lot size
    0.18 Acres
    Property subtype
    Mixed Use

    Building Details

    Year Built
    1998

    We can help!

    Listing Contact
    Angie Tanner-Miller

    Listing agent Angie Tanner-Miller License #2012002533

    Listing office Coldwell Banker Realty

    Listing date Nov 19, 2024

    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 Coldwell Banker Realty

    HighLights

    • Prime downtown location at the corner of Main Street and Church
    • Located in the 'Main Street Reimagined' project area
    • Surrounded by established and successful businesses
    • Includes a 7900 sqft parking lot, leased out for the 'Popcorn Festival'
    • New gas furnace installed in 2022
    • New A/C installed in 2021

    Overview

    Located in the heart of downtown Marion, this property benefits from its position at the corner of Main Street and Church Street, placing it in the center of the 'Main Street Reimagined' project. The location is surrounded by established and new businesses, and is across from Busby Park and the upcoming Lydia project. The property is suitable for various business ventures, with dining, shopping, banking, and entertainment options nearby. Downtown's 'Third Thursday' events occur just outside the door. A 7900 square foot parking lot is included, which is currently leased out for the 'Popcorn Festival' weekend, providing an additional revenue stream. A gas furnace was newly installed in 2022, and the air conditioning unit was replaced in 2021. The property size is 1666 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Marion
    State
    Ohio
    Longitude
    -83.1291334
    Latitude
    40.5874097

    Nearby Similar for Sale

    • $399,000

      Marion, Ohio Mobile Home Park

      1.75-acre mobile home park with 32 pads and residence.
      1015 N Main Street, Marion, OH 43302
      View Details
    • $599,000
      12,387 SF

      South Marion County Church Building

      Church on 2.9 acres with commercial potential.
      2422 Smeltzer Road, Marion, OH 43302
      View Details
    • $219,900

      Marion Multifamily Property For Sale

      Multifamily property with tenant-occupied units and potential rent increase.
      885 Mt Vernon Avenue, Marion, OH 43302
      View Details
    • $400,000
      75,359 SF

      Commercial Land on Harding Hwy

      1.73 acre commercial lot with high visibility.
      Harding Hwy, Marion, OH 43302
      View Details
    • $139,500

      3.5 Acre Cleared Lot

      Cleared 3.5-acre lot with pond and utilities in place.
      1401 Crissinger Road, Marion, OH 43302
      View Details
    • $174,900

      Well-Maintained Duplex: Investment Opportunity

      Duplex with long-term tenants, updated systems, and fenced backyard.
      389-391 Oak Street, Marion, OH 43302
      View Details
    • $399,000
      76,230 SF

      Marion, Ohio Mobile Home Park

      1.75-acre mobile home park with 32 pads.
      1015 North Main Street, Marion, OH 43302
      View Details
    • $124,900

      Marion, OH Duplex For Sale

      Duplex with immediate occupancy in Marion, Ohio.
      229 W Columbia Street, Marion, OH 43302
      View Details
    • $300,000
      2,500 SF

      Medical Office Condo Near Hospital

      Move-in ready medical office condo near Marion General Hospital.
      1043 Harding Memorial Parkway, Marion, OH 43302
      View Details
    • $1.00
      2,936 SF

      Free-Standing Retail Building on Corner

      Vacant retail building in Marion, OH, formerly Denny’s.
      1050 Mt Vernon Ave, Marion, OH 43302
      View Details
    • $75,000
      2,936 SF

      Free-Standing Retail Building in Marion

      Vacant retail building on a corner lot in Marion, OH.
      1050 Mount Vernon Ave, Marion, OH 43302
      View Details
    • $120,000

      Income-Producing Duplex in Marion, OH

      Duplex with updated units, generating $18,300 annual rental income.
      374 Nunin Court, Marion, OH 43302
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Prime location in downtown Marion near reimagined Main Street.
    Where is this mixed-use property located?
    The property is located at 114 W Church Street Marion, OH.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: Prime downtown location at the corner of Main Street and Church; Located in the 'Main Street Reimagined' project area; Surrounded by established and successful businesses
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Angie Tanner-Miller
    Real Estate License ID: 2012002533
    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
    114 W Church Street, Marion, OH 43302
    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!