3148 Western AveMarion, IN 46953

Property Details for 3148 Western Ave

Year built

1991

Construction

WOOD

Lot size

1.35 AC

Property size (Sq ft)

8,966 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

27-06-13-800-007.002-008

APU

270613800007002008

Description

This exceptional 1.34-acre retail outlot in Marion, Indiana, presents a unique investment opportunity. Situated in Grant County's strongest retail corridor, this property boasts unparalleled visibility and accessibility on Western Avenue, a high-traffic road with 25,553 cars daily. The location benefits from a signalized intersection, ensuring easy ingress and egress for customers. This outlot is part of a thriving commercial area, anchored by a Walmart Supercenter and surrounded by established national brands including Taco Bell, Starbucks, Aspen Dental, and O'Reilly Auto Parts. The 15-mile trade area encompasses a substantial population of 75,735, providing a large potential customer base. Its central location within the county seat offers convenient access to Indiana Wesleyan University, Marion High School, and major employers, further enhancing its appeal. This single-tenant property is ideal for a variety of retail uses and represents a rare chance to secure a prime location in a high-growth market. The property's strategic placement and strong surrounding businesses make it an exceptional investment opportunity with significant potential for return. This is a must-see for any investor seeking a high-traffic, high-visibility retail location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,068,780

  6.5%

  $1,909,643

  7%

  $1,773,240

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,970,504

  Geo Method

  $2,805,988

• Alternative Use

  Use

  Valuation

  Residential

  $1,610,855

  Hospitality

  $1,475,535

  Educational

  $1,227,628

  Medical

  $1,269,848

  Retail

  $1,909,643

Location Insight

City

Marion

County

Grant

State

Indiana

Latitude

40.5324

Longitude

-85.6743

CBSA code

31980

CBSA name

MARION, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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