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    Property profile & analytics

    1123 Western Ave Marion, IN 46952-2501

    • Medical offices
    • 3,696 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimation
    $590,000
    Last Sale
    May 14, 2020
    $530,000
    Location Intelligence
    Property ID
    US31-1544836
    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.

    Current Use by Public Records

    • Fort Wayne Medical Oncology and Hematology Marion / Oncologist
    • Gary Frick, DO / Cardiologist
    • Cardiovascular Consultants / Cardiologist / Medical Center
    • Gary Allen Frick / Cardiologist
    • Roderick James Sawyer / Cardiologist

    Property Details for 1123 Western Ave

    Year built
    2003
    Construction
    WOOD
    Lot size
    0.19 lot acres
    Property size
    3,696 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    27-03-36-401-046.000-023
    APU
    270336401046000023

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $615,000

    • CAP approach

      CAP return
      Estimation
      6%
      $540,000
      6.5%
      $515,000
      7%
      $550,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $560,000
      Geo Method
      $505,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $555,000
      Retail
      $580,000
      Mixed-Use
      $475,000
      Hospitality
      $500,000
      Educational
      $575,000
      Residential Income
      $605,000
      Energy
      $465,000
      Income-Based Land
      $465,000
      Food Service
      $580,000

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Grant
    State
    Indiana
    Longitude
    -85.6747
    Latitude
    40.5736
    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
    $15,129
    $12,400
    $491,900
    $504,300
    -
    $12,400
    $491,900
    $504,300

    Comparable in this City

    • Value Estimation
      $345,000
      8,788 SF

      119 Washington St

      MEDICAL BUILDING • 8,788 SF
      119 Washington St, Marion, IN 46952-3805
      View Details
    • Value Estimation
      $310,000
      7,062 SF

      515 Bradner Ave

      MEDICAL BUILDING • 7,062 SF
      515 Bradner Ave, Marion, IN 46952-2449
      View Details
    • Value Estimation
      $350,000
      3,724 SF

      803 Gardner Dr

      MEDICAL BUILDING • 3,724 SF
      803 Gardner Dr, Marion, IN 46952-1819
      View Details
    • Value Estimation
      $450,000
      29,450 SF

      505 Wabash Ave

      MEDICAL BUILDING • 29,450 SF
      505 Wabash Ave, Marion, IN 46952-2608
      View Details
    • Value Estimation by Request
      44,944 SF

      1391 Baldwin Ave

      MEDICAL BUILDING • 44,944 SF
      1391 Baldwin Ave, Marion, IN 46952-1913
      View Details
    • Value Estimation by Request
      21,290 SF

      831 Theatre Dr

      MEDICAL BUILDING • 21,290 SF
      831 Theatre Dr, Marion, IN 46952-1701
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Move-In Ready Office Space

      Well-equipped office space with ample parking in Marion, Indiana.
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    • Contact for pricing
      672 SF

      Drive-Thru Restaurant Opportunity

      672 SF retail space with drive-thru potential for lease.
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      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Available For Rent

      3,000 square feet of retail space for lease.
      1129 N Baldwin Ave, Marion, IN 46952
      View Details
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    1123 Western Ave
    Marion, IN 46952-2501
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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