1105 38th St Marion, IN 46953-4461
Property profile & analytics
1105 38th St Marion, IN 46953-4461
- Outlet malls
- 9,100 SF
- 0.89 lot acres
Property ID
US31-0455271
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Western Union / Bank / Credit Union
- FedEx OnSite / Postal Service / Courier Service
- Dollar General / Discount Store
Property Details for 1105 38th St
- Year built
- 2018
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.89 lot acres
- Property size
- 9,100 SF
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 27-07-17-304-035.001-001
- APU
- 270717304035001001
Description
This exceptional investment opportunity presents a 9,100 square foot Dollar General convenience store in Marion, Indiana, on a 0.9-acre lot. Built in 2018, the property boasts a 15-year absolute NNN lease with a corporate guarantee from Dollar General (NYSE: DG), expiring September 30, 2033, and including five, five-year renewal options with rent bumps. The current lease provides a strong NOI of $89,852, yielding a 7.00% cap rate on the $1,283,600 asking price. The property benefits from a prime location near Indiana Wesleyan University (approximately 3,000 students) and the VA Northern Indiana Health Care System, a large healthcare campus. The property's strategic positioning also places it near various national retailers, enhancing its visibility and accessibility. The tenant is responsible for all property expenses, including taxes, insurance, and common area maintenance. This presents a low-maintenance, high-return investment with a financially sound, investment-grade corporate tenant and significant remaining lease term. The property's strong location and long-term lease make it an attractive opportunity for investors seeking stable, passive income.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $869,000
Market price range: $245k - $870k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $535,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $865,000 Change: +62% Conversion: Difficult
- RESTAURANT
- $840,000 Change: +58% Conversion: Easy
- COMMERCIAL (GENERAL)
- $770,000 Change: +44% Conversion: Easy
- AUTO REPAIR, GARAGE
- $575,000 Change: +8% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Grant
- State
- Indiana
- Longitude
- -85.6452
- Latitude
- 40.5238
- CBSA code
- 31980
- CBSA name
- MARION, IN MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$12,770
$27,200
$622,700
$649,900
-
$27,200
$622,700
$649,900
