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    3156 Western Ave Marion, IN 46953

    For Sale
    $3,524,670

    Prime Retail Center, Value-Add Opportunity

    Property size:
    37,193 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    Valley View Plaza, a 37,193-square-foot shopping center in Marion, Indiana, presents a compelling value-add investment opportunity. Located on Western Avenue, this single-story, 1998-built property boasts a strong national tenant lineup including Dollar Tree, Goodwill, CATO, and Cricket, occupying 82.8% of the space. The property features 183 parking spaces and sits on a 4.71-acre lot. With a current NOI of $299,856 and an asking price of $3,524,670, the property offers an 8.51% cap rate. The property benefits from a Walmart shadow anchor and proximity to other national retailers, driving significant traffic to the Western Avenue retail corridor, which sees 24,007 vehicles daily. The 6,400 square feet of vacant space provides an opportunity to increase NOI through lease-up. The property is offered free and clear of debt, and Indiana's low property taxes further enhance its investment appeal. The weighted average lapsed lease term is 14.63 years, indicating tenant stability and long-term income potential. The property is being offered "as-is," with no representations or warranties regarding the accuracy of provided information. This is a rare opportunity to acquire a well-located retail center with significant upside potential in a growing market.

    Property Features for 3156 Western Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    37,193 SF
    Lot Size
    205,168 SF

    Building Details

    Year Built
    1998
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Value‑add opportunity: 37,193‑square‑foot shopping center in Marion, Indiana, with 6,400 square feet of leasable space, offering NOI growth potential.
    • Strong national tenant lineup: Dollar Tree, Goodwill, CATO, and Cricket occupy 82.8% of the space, providing stability and a diverse tenant mix.
    • Long‑term tenant stability: Weighted average lapsed lease term of 14.63 years ensures consistent income.
    • High‑traffic location: Shadow‑anchored by Walmart and situated on Western Avenue, a major thoroughfare with 24,007 vehicles per day, near other national retailers.
    • Excellent accessibility: Three points of ingress/egress and direct access from a traffic signal.
    • Low property taxes: Benefits from Indiana's favorable tax environment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cricket Wireless Authorized ... Cell Phone Store

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store 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
    -85.675471503304
    Latitude
    40.531547182689

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    FAQs

    What type of property is this?
    Lifestyle center - Prime Retail Center, Value-Add Opportunity
    Where is this lifestyle center located?
    The property is located at 3156 Western Ave Marion, IN.
    What is the asking price?
    The asking price for this property is $3,524,670.
    What are key features of this property?
    This property features: Value-add opportunity: 37,193-square-foot shopping center in Marion, Indiana, with 6,400 square feet of leasable space, offering NOI growth potential.; Strong national tenant lineup: Dollar Tree, Goodwill, CATO, and Cricket occupy 82.8% of the space, providing stability and a diverse tenant mix.; Long-term tenant stability: Weighted average lapsed lease term of 14.63 years ensures consistent income.
    Request Owner's contact information
    3156 Western Ave Marion, IN 46953
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    Marion, IN 46953
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    Realmo Value Estimation

    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.

    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.

    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
    3156 Western Ave Marion, IN 46953
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