Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1301 2nd St Marion, IN 46952-3560

    • Residential income homes
    • 10,442 SF
    • 0.33 lot acres
    OFF-MARKET
    Last Sale
    Jan 20, 2021
    $14,000
    Value Estimations
    $785,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1652079
    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

    • Cyndi's Hair Extraordinaire / Hair Salon / Nail Salon

    Property Details for 1301 2nd St

    Year built
    1930
    Construction
    WOOD
    Lot size
    0.33 lot acres
    Property size
    10,442 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    27-06-01-401-031.000-008
    APU
    270601401031000008

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $950,000
      6.5%
      $875,000
      7%
      $810,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $699,000
      Market price range: $700k - $1.50M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $990,000
      Current use
      RESTAURANT
      $995,000
      Change: +0% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $805,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Grant
    State
    Indiana
    Longitude
    -85.6743
    Latitude
    40.5598
    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
    $5,684
    $53,200
    $154,800
    $208,000
    -
    $53,200
    $154,800
    $208,000

    Comparable in this City

    • Value Estimation
      $1,950,000
      2,304 SF

      1315 Beckford Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,304 SF
      1315 Beckford Pl, Marion, IN 46952-1862
      View Details
    • Value Estimation by Request
      728 SF

      326 Washington St

      APARTMENT HOUSE (UNDER 5 UNITS) • 728 SF
      326 Washington St, Marion, IN 46952-4023
      View Details
    • Value Estimation by Request
      6,080 SF

      521 Washington St

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,080 SF
      521 Washington St, Marion, IN 46952-2701
      View Details
    • Value Estimation by Request
      3,721 SF

      316 2nd St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,721 SF
      316 2nd St, Marion, IN 46952-3830
      View Details
    • Value Estimation by Request
      681 SF

      326 Washington St

      APARTMENT HOUSE (UNDER 5 UNITS) • 681 SF
      326 Washington St, Marion, IN 46952-4023
      View Details
    • Value Estimation by Request
      1,706 SF

      1316 Meridian St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,706 SF
      1316 Meridian St, Marion, IN 46952-2163
      View Details

    Similar Nearby for Sale

    • $399,900
      0.27 Acres

      Restaurant/Bar with Apartments and License

      Restaurant/bar with apartments, liquor license, and outdoor patio.
      117 S Branson St, Marion, IN 46952
      View Details
    • $89,900
      1,982 SF

      Marion Duplex with Central Location

      Two-unit investment property in a central, highly visible location.
      1308 W 2Nd St, Marion, IN 46952
      View Details
    • $74,900
      1,824 SF

      Marion, Indiana Duplex Investment

      Two-unit property with high visibility and central location.
      1304 W 2Nd St, Marion, IN 46952
      View Details
    • $525,000
      10,600 SF

      Prime Marion Medical Office Building

      10,600 SF Multi-Tenant Medical Office
      1001 Western Ave, Marion, IN 46952
      View Details
    • Contact for pricing
      6,705 SF

      Freestanding Restaurant Space in Marion

      6,705 sq ft restaurant space in Marion, Indiana.
      1510 W Braewick Dr, Marion, IN 46952
      View Details
    • New
      Contact for pricing
      10,600 SF

      Retail/Office Building For Sale

      83% occupied retail/office building with leases in place.
      1001 N Western Ave, Marion, IN 46952
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Restaurant or Retail Opportunity

      6,705 SF freestanding restaurant or retail opportunity in Marion, Indiana.
      1510 W Braewick Dr, Marion, IN 46952
      View Details
    • Contact for pricing

      Marion Retail/Office Space Available

      Retail and office suites available for lease in Marion.
      1001 N Western Ave, Marion, IN 46952
      View Details
    • Contact for pricing
      2,196 SF

      Waterfront Office Park Office Space

      Multi-tenant building in Marion's historic Riverwalk District.
      321-325 East 2Nd St, Marion, IN 46952
      View Details
    • Contact for pricing
      672 SF

      Drive-Thru Restaurant Opportunity

      672 SF retail space with drive-thru potential for lease.
      702 S Baldwin Ave, Marion, IN 46952
      View Details
    • $1,375 /Mo
      1,758 SF

      Marion Office Space For Rent

      Well-maintained office space with bypass frontage in Marion, Indiana.
      1125 N Baldwin Ave, Marion, IN 46952
      View Details
    • Contact for pricing

      Retail Space at Five Points Mall

      Prime retail space available in Marion, Indiana's Five Points Mall.
      1128 N Baldwin Ave, Marion, IN 46952
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1301 2nd St
    Marion, IN 46952-3560
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!