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Property profile & analytics
OFF-MARKET
Estimated value
$11,875,000
Strip malls
1500 Western Ave A Marion, IN 46953-1542
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-1541262
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1969
Construction
TYPE NOT SPECIFIED
Total area
110,040 SF
Lot
8 ac (348,480 SF)
APN
27-06-12-104-104.000-008
UPID
US31-1541262
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
-
Crossroads District Association Or Organization
-
Slingshot Edu (Bike/Boat/Book/etc) Store Corporate Office
-
Abbey Coffee Co. Cafe & Coffee Shop
-
Jays Thai Food Restaurant
-
Scott Makin Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.88M
Owner & transaction history
Speedway LLC · 7 yrs held
Speedway LLC
since 2019
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$10,455,000
Change: 0% · Conversion: Difficult
RESTAURANT
$10,160,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,290,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$11.88M
Range $10.69M – $13.06M · ±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
$108 / 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
$105,630
Tax year 2023
Assessed value
$3,521,000
Assessed 2023
Previous assessed
$3,521,000
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$572,000
Assessed improvement
$2,949,000
Land market value
$572,000
Improvement market value
$2,949,000
Total market value
$3,521,000
Applied tax rate
15.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1969
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
110,040 SF
Lot
8 ac (348,480 SF)
APN
27-06-12-104-104.000-008
UPID
US31-1541262
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.5M
RESTAURANT
Est. value
$10.2M
COMMERCIAL (GENERAL)
Est. value
$9.3M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
COMMERCIAL (GENERAL)
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
1969
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
8 ac
Current owner
From public records · entity-resolved
Speedway LLC
Entity
Free & Clear · 7 yrs held
Mailing address
2833 E DUPONT RD, FORT WAYNE, IN 46825-1668
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2019
—
Speedway LLC
Book Vineyard LLC
Warranty Deed
—
May 2, 2019
—
Speedway LLC
Book Vineyard LLC
Warranty Deed
—
Sep 9, 2010
—
Kings Group USA LLC
Grant County Economic Growth Counci
Warranty Deed
$1,350,000 · Grant County Economic Growth Counci
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.
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