3156 Western Ave Marion, IN 46953
- Lifestyle centers
- 37,193 SF
- 4.71 lot acres
Current Use by Public Records
- Cricket Wireless Authorized Retailer / Cell Phone Store
Property Details for 3156 Western Ave
- Year built
- 1998
- Lot size
- 4.71 lot acres
- Property size
- 37,193 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Grant
- State
- Indiana
- Longitude
- -85.6755
- Latitude
- 40.5315
