328 Mcmahan Blvd Marion, OH 43302
- Lifestyle centers
- 71,026 SF
- 10.61 lot acres
Current Use by Public Records
- Five Below / Candy Store / Fashion Accessories Store
- Legacy Shopping Center / Shopping Mall
Property Details for 328 Mcmahan Blvd
- Year built
- 2006
- Lot size
- 10.61 lot acres
- Property size
- 71,026 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Legacy Crossing, a 71,026 square foot shopping center in Marion, Ohio (43302), presents a compelling investment opportunity. This Core+ asset boasts a strong national tenant lineup including Dollar Tree, Petco, Five Below, Maurices, and Bealls, with 94.1% occupancy and a Net Operating Income (NOI) of $729,599. Built in 2006 on a 10.61-acre lot, the property features 700 parking spaces and benefits from recent leasing momentum, including a new 10-year lease with Five Below. The property enjoys a prominent location off US Route 23 and Highway 95, a high-traffic corridor with 41,387 combined daily vehicles. Shadow anchors Hobby Lobby and Kohl's further enhance its appeal. Two vacant suites totaling 4,220 square feet offer value-add potential, with previous tenants including T-Mobile and a restaurant. The property's tenancy is characterized by limited chain competition within a 20-mile radius, ensuring strong drawing power for its diverse retail mix. The remaining lease term averages 4.7 years, and rent bumps are included in the lease agreements. This asset offers a stable income stream supported by strong credit tenants, representing 91% of the gross leasable area (GLA). The property's strategic location and strong tenant performance make it an attractive investment prospect. Offers are due July 11, 2024.
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
- Marion
- State
- Ohio
- Longitude
- -83.0825
- Latitude
- 40.584
