Sign Up Successful!
You now have access to more from Realmo!
    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

    1001 Western Ave Marion, IN 46952

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Marion, IN: Prime Office Space Available

    Lot size:
    10,600 SF

    Property Features for 1001 Western Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,600 SF
    Class
    B
    Total Rate
    7066.67

    Building Details

    Year Built
    1988
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 1001 Western Ave, Marion, IN 46952 Contact us
    Unit Suite E

    $8 /Mo

    Size
    1,800 SF
    Contact us
    Unit Suite F

    $8 /Mo

    Size
    1,200 SF
    Contact us
    Unit Suite G

    $8 /Mo

    Size
    1,200 SF
    Contact us

    We can help!

    Listing Contact
    Bill Drinkall
    Bill Drinkall

    Listing Agency: Bradley Company Fort Wayne Listing Agent: Bill Drinkall

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Sparta Square, located at 1001 N Western Ave in Marion, Indiana, presents a fantastic opportunity for businesses seeking executive office space. This single-story, Class B building, constructed in 1988, offers a total of 10,600 square feet, with 4,200 square feet currently vacant and immediately available. The property sits on a 0.9-acre lot and is zoned GB General Business, providing flexibility for various professional uses. Multiple tenancy options are available, with spaces ranging from a minimum of 1,200 square feet to a maximum contiguous space of 4,200 square feet, catering to businesses of varying sizes. Ample parking is provided with 71 spaces. The property's address is 1001 N Western Ave, Marion, IN 46952, within Grant County. The building's features include a single story design, making it easily accessible and navigable. The property's APN is 27-03-36-404-007.000-023. This is an excellent opportunity to establish a presence in a well-located and functional office building. The available space is ideal for businesses seeking a convenient and efficient workspace in a thriving community. Contact us today to learn more about leasing options and schedule a viewing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mid America Clinical ... Medical Laboratory Prevail Orthotics & Prosthetic Orthotics & Prosthetics Service Edward Jones - Financial ... Financial Advisor Groups Recover Together Medical Clinic Marion Family Planning ... Medical Clinic

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Grant
    State
    Indiana
    Longitude
    -85.6747094
    Latitude
    40.5705115

    Nearby Similar for Lease

    • $1,375 /Mo
      1,758 SF

      Professional Mixed-Use Space Available

      Well-maintained office/retail space with ample parking and bypass frontage.
      1125 N Baldwin Ave, Marion, IN 46952
      View Details
    • $3,000 /Mo
      4,600 SF

      Mixed-Use Property in Marion, Indiana

      Mixed-use property with office spaces available for lease in Marion.
      3742 S Western Ave, Marion, IN 46953
      View Details
    • $1.00 SF/Yr
      2,940 SF

      Retail and Service Space Available

      Retail and service area with overhead door in rear.
      2021 S Western Ave, Marion, IN 46953
      View Details
    • $2,500 /Mo

      304 S Baldwin Ave, Unit 306

      Retail Space On Bypass
      304 S Baldwin Ave, Marion, IN 46052
      View Details
    • $7 SF/Yr

      Office and Retail Space Available

      Office and retail property for lease near Five Points Mall.
      1001 N Western Ave, Marion, IN 46952
      View Details
    • $1,250 /Mo
      2,500 SF

      Marion Mixed-Use Open Space Unit

      Mixed-use open space unit available for rent in Marion.
      2221 Westwood Sq, Marion, IN 46952
      View Details
    • Contact for pricing
      1,725 SF

      Retail Space in Walmart Shadow

      Retail space available in Walmart shadow center with high traffic.
      3248 S Western Ave, Marion, IN 46953
      View Details
    • Contact for pricing
      814 SF

      Waterfront Office Park Office Space

      Multi-tenant building in Marion's historic Riverwalk District.
      321-325 East 2Nd St, Marion, IN 46952
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in Walmart Center

      Retail spaces available within a Walmart shadow center.
      3304-3318 S Western Ave, Marion, IN 46953
      View Details
    • Contact for pricing
      2,046 SF

      Retail Space on South Western

      Retail space with high visibility and solid traffic counts.
      3016 S Western Ave, Marion, IN 46953
      View Details
    • Contact for pricing
      672 SF

      Drive-Thru Restaurant Opportunity

      672 SF retail space with drive-thru potential for lease.
      702 S Baldwin Ave, Marion, IN 46952
      View Details
    • Contact for pricing
      4,800 SF

      Retail Space Available For Lease

      Retail space available for lease, totaling 4,800 square feet.
      3164 S Western Ave, Marion, IN 46953
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Marion, IN: Prime Office Space Available
    Where is this office property / space located?
    The property is located at 1001 Western Ave Marion, IN.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: Excellent Five Points Mall proximity.; One block from State Road 9.; High visibility with dual street frontage.
    (260) 755-7836 Call to check price and availability
    Request Owner's contact information
    1001 Western Ave Marion, IN 46952
    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.
    1001 Western Ave
    Marion, IN 46952
    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
    1001 Western Ave Marion, IN 46952
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bill Drinkall
    Bill Drinkall
    (260) 755-7836
    Learn more
    Google sign-in failed. Please try again or use another login method.