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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    130 Mcmahan Blvd, Unit 142 Marion, OH 43302-5654

    • Strip malls
    • 1.40 lot acres
    OFF-MARKET
    Last Sale
    Jan 16, 2020
    $3,615,000
    Value Estimations
    $3,570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-3104955
    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

    • Starbucks / Internet Cafe / Coffee Shop

    Property Details for 130 Mcmahan Blvd

    Year built
    2006
    Construction
    CONCRETE BLOCKS
    Lot size
    1.40 lot acres
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    20-011000.5202
    APU
    200110005202

    Description

    This exceptional investment opportunity presents the Shoppes at Legacy Crossing, a 11,273 square foot, single-story shopping center in Marion, Ohio. Built in 2006, this property boasts a 100% occupancy rate with seven tenants, including a Starbucks anchor. Located at the hard corner of McMahan Boulevard and Marion-Mt. Gilead Road, this center benefits from high visibility and accessibility, situated just off US-23. The property sits on a 1.4-acre lot with 52 parking spaces and is zoned B-2 Community Business District. The strong tenant mix includes national brands, many of whom have occupied the space since its construction. All leases include provisions for tenant reimbursement of pro-rata operating expenses, contributing to a strong net operating income (NOI) of $302,854. The property's strategic location within Marion's primary retail corridor, near major employers and universities, ensures consistent traffic and revenue generation. This core investment opportunity is priced at $4,495,000, translating to $398.74 per square foot. The property's outparcel position to a dominant power center further enhances its appeal and market position.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,835,000
      ML approach
      $3,225,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Marion
    State
    Ohio
    Longitude
    -83.0822
    Latitude
    40.582
    CBSA code
    32020
    CBSA name
    MARION, OH 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
    $17,574
    $5,100
    $0.00
    $5,100
    -
    $14,570
    $0.00
    $14,570

    Comparable in this City

    • Value Estimation by Request
      11.33 Acres

      1580 Marion Mt Gilead Rd, Unit 1632

      SHOPPING CENTER, STRIP CENTER • 11.33 Acres
      1580 Marion Mt Gilead Rd, Marion, OH 43302-5820
      View Details
    • Value Estimation by Request
      2.02 Acres

      152 Mcmahan Blvd, Unit 160

      SHOPPING CENTER, STRIP CENTER • 2.02 Acres
      152 Mcmahan Blvd, Marion, OH 43302-5654
      View Details
    • Value Estimation by Request
      1.36 Acres

      1623 Marion Mt Gilead Rd

      SHOPPING CENTER, STRIP CENTER • 1.36 Acres
      1623 Marion Mt Gilead Rd, Marion, OH 43302-5979
      View Details
    • Value Estimation by Request
      0.00 Acres

      538 Ctr St, Unit 544

      SHOPPING CENTER, STRIP CENTER • 0.00 Acres
      538 Ctr St, Marion, OH 43302-4234
      View Details
    • Value Estimation by Request
      1.96 Acres

      592 Clinton St

      SHOPPING CENTER, STRIP CENTER • 1.96 Acres
      592 Clinton St, Marion, OH 43302-5955
      View Details
    • Value Estimation by Request
      4.03 Acres

      1579 Marion Waldo 1581st 1583rd Rd

      SHOPPING CENTER, STRIP CENTER • 4.03 Acres
      1579 Marion Waldo 1581st 1583rd Rd, Marion, OH 43302
      View Details

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    Similar Nearby for Lease

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      Redeveloped Retail Space For Lease

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      Retail Space Near OhioHealth Hospital

      Retail space for lease near OhioHealth Marion General Hospital.
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      View Details
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    Marion, OH 43302-5654
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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