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

    1615 Baldwin Ave Marion, IN 46952-1436

    • Hotels
    • 19,586 SF
    • 4.80 lot acres
    OFF-MARKET
    Last Sale
    Dec 21, 2021
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2241882
    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

    • Red Roof Inn Marion, IN / Hotel / Extended Stay Hotel

    Property Details for 1615 Baldwin Ave

    Year built
    1962
    Construction
    WOOD
    Lot size
    4.80 lot acres
    Property size
    19,586 SF
    Property type
    Hotels
    Property subtype
    Motels
    APN
    27-02-30-403-003.000-002
    APU
    270230403003000002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $595,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $730,000
      MEDICAL BUILDING
      $675,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Grant
    State
    Indiana
    Longitude
    -85.6649
    Latitude
    40.5831
    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
    $32,724
    $578,400
    $512,400
    $1,090,800
    -
    $578,400
    $512,400
    $1,090,800

    Comparable in this City

    • Value Estimation
      $290,000
      8,842 SF

      1370 Baldwin Ave

      HOTEL/MOTEL • 8,842 SF
      1370 Baldwin Ave, Marion, IN 46952-1932
      View Details
    • Value Estimation
      $700,000
      54,940 SF

      1000 Baldwin Ave

      HOTEL/MOTEL • 54,940 SF
      1000 Baldwin Ave, Marion, IN 46952-2538
      View Details
    • Value Estimation
      $425,000
      13,452 SF

      1411 Baldwin Ave

      HOTEL/MOTEL • 13,452 SF
      1411 Baldwin Ave, Marion, IN 46952-1926
      View Details
    • Value Estimation
      $720,000
      36,021 SF

      1345 Baldwin Ave

      HOTEL/MOTEL • 36,021 SF
      1345 Baldwin Ave, Marion, IN 46952-1913
      View Details
    • Value Estimation
      $570,000
      44,296 SF

      1502 Baldwin Ave

      HOTEL/MOTEL • 44,296 SF
      1502 Baldwin Ave, Marion, IN 46952-1927
      View Details
    • Value Estimation by Request
      0.20 Acres

      320 4th St

      VACANT COMMERCIAL LAND • 0.20 Acres
      320 4th St, Marion, IN 46952-4014
      View Details

    Similar Nearby for Sale

    • $350,000
      1.07 Acres

      Prime Marion Retail Land

      1.07 Acres, 46,609 SF Potential
      1012 Baldwin Ave, Marion, IN 46952
      View Details
    • $450,000

      Marion Commercial Land - Prime Location

      Development Opportunity: Five Points Mall Outlot
      711 Theatre Rd, Marion, IN 46952
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    • $450,000

      Land Available in Marion, Indiana

      Land for sale in Marion, Indiana.
      N Baldwin Ave, Marion, IN 46952
      View Details
    • Contact for pricing
      0.32 Acres

      Residential Land in Established Neighborhood

      0.33 acre residential lot in Marion, Indiana.
      814 W Macalan Dr, Marion, IN 46952
      View Details
    • $30,000
      0.66 Acres

      Vacant Land in Marion, IN

      0.66 acres of vacant agricultural land in Marion, Indiana.
      500 S 500 E, Marion, IN 46952
      View Details
    • $1,300,000
      11,000 SF

      Excellent Condition Office Building

      Prime location office building with high visibility and ample parking.
      711 W Gardner Dr, Marion, IN 46952
      View Details

    Similar Nearby for Lease

    • $1,250 /Mo
      2,500 SF

      Marion Mixed-Use Open Space Unit

      Mixed-use open space unit available for rent in Marion.
      2221 Westwood Sq, Marion, IN 46952
      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
    • $12 SF/Yr
      6,705 SF

      Prime Marion Retail Space

      6,705 SF Freestanding Retail/Restaurant
      1510 Braewick Dr, Marion, IN 46952
      View Details
    • $8 SF/Yr
      10,600 SF

      Sparta Square Executive Offices

      Marion, IN: Prime Office Space Available
      1001 Western Ave, Marion, IN 46952
      View Details
    • $10 SF/Yr
      814 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
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    1615 Baldwin Ave
    Marion, IN 46952-1436
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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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