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    Property profile & analytics

    2703 W 9Th St Marion, IN 46953

    • Manufacturing properties
    • 45,936 SF
    • 8.22 lot acres
    For Lease
    View listing
    $5 SF/Yr
    Last Sale
    Dec 12, 2024
    Value Estimations
    $785,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2195376
    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

    • Sherriff-Goslin Co / Roofing Contractor
    • Earthwise Plastics / Plastic Fabrication Company
    • Metal Source / Metal Processing Company
    • Millwright Riggers Inc / Corporate Campus

    Property Details for 2703 W 9Th St

    Year built
    1967
    Construction
    TYPE NOT SPECIFIED
    Lot size
    8.22 lot acres
    Property size
    45,936 SF
    Property type
    Manufacturing properties
    APN
    27-06-11-200-012.000-008
    APU
    270611200012000008

    Description

    This exceptional 45,936-square-foot distribution center, situated on a spacious 21.3-acre lot in Marion, Indiana, presents a compelling investment opportunity. Built in 1967, this single-story building boasts a heavy industrial I3 zoning designation, making it ideal for a variety of uses. The property features five loading docks, ten overhead drive-in doors, and three overhead cranes with capacities of 3, 5, and 10 tons. Power is robust, with 1600 Amp/480 Volt service and three bus ducts. The building is move-in ready, fully fenced and secured, and includes a sizable break room and locker room. The expansive lot offers significant outside storage potential and room for future expansion. An additional truck scale is available for negotiation. The asking price is $1,850,000, translating to $40.27 per square foot. The property's APN is 27-06-11-200-012.000-008, 27-06-11-200-003.000-006, 27-06-11-200-014.000-006. Located at 2703 W 9th St, Marion, IN 46953, this property offers unparalleled functionality and growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $605,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $971,000
      Market price range: $586k - $2.06M

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Grant
    State
    Indiana
    Longitude
    -85.7032
    Latitude
    40.5501
    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
    $13,717
    $112,600
    $347,800
    $460,400
    -
    $112,600
    $347,800
    $460,400

    Comparable in this City

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      View Details
    • Value Estimation
      $295,000
      8,584 SF

      1830 Miller Ave

      MANUFACTURING (LIGHT) • 8,584 SF
      1830 Miller Ave, Marion, IN 46953-9438
      View Details
    • Value Estimation
      $265,000
      16,928 SF

      820 34th St

      MANUFACTURING (LIGHT) • 16,928 SF
      820 34th St, Marion, IN 46953
      View Details
    • Value Estimation
      $675,000
      31,646 SF

      2724 Carey St

      MANUFACTURING (LIGHT) • 31,646 SF
      2724 Carey St, Marion, IN 46953-3515
      View Details
    • Value Estimation
      $535,000
      48,273 SF

      318 12th St

      MANUFACTURING (LIGHT) • 48,273 SF
      318 12th St, Marion, IN 46953-2362
      View Details
    • Value Estimation
      $270,000
      11,524 SF

      924 Gallatin St

      MANUFACTURING (LIGHT) • 11,524 SF
      924 Gallatin St, Marion, IN 46953-1946
      View Details

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    Similar Nearby for Lease

    • $5 SF/Yr
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      Industrial Property with Heavy Power

      Move-in ready industrial space with heavy power and truck docks.
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      Retail space with high visibility and solid traffic counts.
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      Mixed-Use Property in Marion, Indiana

      Mixed-use property with office spaces available for lease in Marion.
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      View Details
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    Marion, IN 46953
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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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