2015 Western Ave Marion, IN 46953
- Retail space
- 2,800 SF
- 0.54 lot acres
Current Use by Public Records
- Strickland Brothers 10 Minute Oil Change / Oil Change Service
- Freedom Day Fireworks / Store
Property Details for 2015 Western Ave
- Year built
- 1955
- Construction
- WOOD
- Lot size
- 0.54 lot acres
- Property size
- 2,800 SF
- Property type
- Retail space
- APN
- 27-07-07-302-021.000-002
- APU
- 270707302021000002
Description
This exceptional investment opportunity presents a 1,750 square foot, single-tenant auto shop located at 2015 S Western Ave, Marion, IN 46953. The property sits on a 0.54-acre lot and is 100% occupied by Strickland Brothers 10 Minute Oil Change under an Absolute NNN lease with a remaining term of 14.4 years, expiring March 31, 2039. The lease includes 10% rent bumps every five years and four 5-year renewal options. The property boasts a strong 6.70% cap rate and a Net Operating Income (NOI) of $128,087. The building, constructed in 2024, is a single-story structure offering drive-thru oil change services. Strickland Brothers provides 10-minute oil changes, oil filter replacements, chassis lubrication, and complimentary maintenance checks. The franchisee has been thoroughly vetted for business experience and financial strength. This investment benefits from the backing of Princeton Equity Group, a firm with a proven track record of growing emerging brands. Given Strickland Brothers' aggressive growth plans and favorable market pricing, this property offers a compelling combination of strong current yield and significant upside potential. The property's corporate credit tenant and long-term lease provide exceptional stability and security for investors.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Grant
- State
- Indiana
- Longitude
- -85.6731
- Latitude
- 40.5424
- CBSA code
- 31980
- CBSA name
- MARION, IN MICROPOLITAN STATISTICAL AREA
