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Property profile & analytics
FOR SALE
Grocery and convenience stores
1013 N Forest Ave Marion, IN 46952
Individually Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-1426940
For Sale
1 / 2
$4,855,500
1013 N Forest Ave, Marion, IN 46952
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1960
Construction
TYPE NOT SPECIFIED
Total area
61,119 SF
Lot
7.72 ac (336,414 SF)
APN
27-03-36-104-024.000-023
UPID
US31-1426940
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Bakery Delicatessen Bakery Specialty Food Shop
-
Needler's Fresh Market Grocery & Convenience Store Food Market
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Primo Water Refill Big Box & Wholesale Store
-
Coin Cloud Bitcoin ATM Crypto Atm Currency Exchange Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.84M
Comparable Approach
Comparable
$6.25M
Blend (final)
Blend
$7.54M
Owner & transaction history
Msi Forest Avenue Marion Portfolio · 19 yrs held
Msi Forest Avenue Marion Portfolio
since 2006
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.8M
+46.0%
Apartment house (5+ units)
$5.8M
+45.8%
Auto repair, garage
$4.7M
+18.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Marion submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Marion submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$9,570,000
6.5%
$8,835,000
7%
$8,205,000
Alternative Use
Use
Estimation
RESTAURANT
$5,815,000
Change: +46% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$5,805,000
Change: +46% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,700,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$7.54M
Range $6.79M – $8.29M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$123 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$125,193
Tax year 2023
Assessed value
$4,173,100
Assessed 2023
Previous assessed
$4,173,100
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$1,452,300
Assessed improvement
$2,720,800
Land market value
$1,452,300
Improvement market value
$2,720,800
Total market value
$4,173,100
Applied tax rate
25.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Sale
Year built
1960
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
61,119 SF
Lot
7.72 ac (336,414 SF)
APN
27-03-36-104-024.000-023
UPID
US31-1426940
Jurisdiction
GRANT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$5.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.8M
AUTO REPAIR, GARAGE
Est. value
$4.7M
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
7.72 ac
Current owner
From public records · entity-resolved
Msi Forest Avenue Marion Portfolio
Individual
Mailing address
9 W 57TH ST FL #43, NEW YORK, NY 10019-2700
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2006
—
Msi Forest Avenue Marion Portfolio
North Marion Development LLC
Special Warranty Deed
$5,286,922 · Bank Of America NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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