1515 Western AveMarion, IN 46953

Property Details for 1515 Western Ave

Year built

1969

Construction

TYPE NOT SPECIFIED

Lot size

1.02 AC

Property size (Sq ft)

18,200 SF

Property type

Outlet malls

APN

27-07-07-203-029.000-002

APU

270707203029000002

Description

This exceptional commercial property, located at 1515 S Western Avenue in Marion, Indiana, presents a fantastic opportunity for a discerning investor or business owner. The property boasts a generous 1.02-acre lot, providing ample space for development or expansion. Its strategic location makes it particularly well-suited for a restaurant, offering excellent visibility and accessibility. The property is priced competitively at $490,000, representing a significant value in the current market. The square footage of the existing structure is not currently specified, allowing for flexibility in planning and design. Given the size of the lot and its prime location, this property offers considerable potential for a variety of commercial ventures. Serious inquiries are encouraged to explore the possibilities this unique opportunity presents. The property is ready for its next chapter, and awaits a vision to transform it into a thriving business. Its strategic location in Marion, Indiana, ensures high visibility and easy access for customers. The 1.02-acre lot provides ample space for development and expansion, making it an attractive investment for long-term growth. This property is a blank canvas, ready for a new owner to create a successful and profitable enterprise.

• CAP approach

  CAP return

  Valuation

  6%

  $4,199,512

  6.5%

  $3,876,473

  7%

  $3,599,582

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,998,747

  Geo Method

  $5,695,850

• Alternative Use

  Use

  Valuation

  Residential

  $3,269,950

  Hospitality

  $2,995,256

  Educational

  $2,492,018

  Medical

  $2,577,722

  Retail

  $3,876,473

Location Insight

City

Marion

County

Grant

State

Indiana

Latitude

40.5473

Longitude

-85.6734

CBSA code

31980

CBSA name

MARION, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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