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    5928 E Montpelier Pike Marion, IN 46953
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    5928 E Montpelier Pike Marion, IN 46953

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    • Commercial land
    For Sale
    $3,400,000
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    13.33 Acre Development Land For Sale
    $3,400,000
    13.33 Acres

    13.33 Acre Development Land

    13.33 acre lot zoned for general business development.

    5928 E Montpelier Pike, Marion, IN 46953
    View Listing
    Property ID
    US31-1345331
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 5928 E Montpelier Pike

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    13.33 Acre lot zoned for general business! Ready to develop land in a busy corridor right off of busy Indiana SR-18!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Grant
    State
    Indiana
    Longitude
    -85.56426
    Latitude
    40.552776

    Comparable in this City

    • Contact for pricing

      Prime Commercial Development Site

      3.93-acre commercial site with high visibility and easy access.
      W 18Th St, Marion, IN 46953
      View Details
    • $125,000
      1.58 Acres

      Prime Commercial Land Opportunity

      Two parcels of commercial land in prime business location.
      1322 W 38Th St, Marion, IN 46953
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    • $325,000
      0.29 Acres

      Commercial Land on US-9 Frontage

      Commercial land for sale with high traffic volume.
      3607 S Western Ave, Marion, IN 46953
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    • Contact for pricing

      Commercial Outlot in Midtowne Crossing

      Commercial outlot available in Marion, Indiana, ready for development.
      1500 S Western Ave, Marion, IN 46953
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    • Contact for pricing
      132,858 SF

      Commercial Land Near I-69

      Commercial land visible from I-69, suitable for hotel, restaurant.
      6076 E Corridor Dr, Marion, IN 46953
      View Details

    Similar Nearby for Sale

    • $125,000
      1.58 Acres

      Prime Commercial Land Opportunity

      Two parcels of commercial land in prime business location.
      1322 W 38Th St, Marion, IN 46953
      View Details
    • Contact for pricing

      Prime Commercial Development Site

      3.93-acre commercial site with high visibility and easy access.
      W 18Th St, Marion, IN 46953
      View Details
    • $1,100,152
      3.05 Acres

      Land Near I-69 and Amenities

      3.05 acre commercial land near I-69 and local amenities.
      6076 E Corridor Dr, Marion, IN 46953
      View Details
    • Contact for pricing
      0.13 Acres

      Commercial Land in Marion, IN

      Commercial lot zoned for general business with bypass visibility.
      1408 W 9Th St, Marion, IN 46953
      View Details
    • Contact for pricing
      132,858 SF

      Commercial Land Near I-69

      Commercial land visible from I-69, suitable for hotel, restaurant.
      6076 E Corridor Dr, Marion, IN 46953
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      4,600 SF

      Mixed-Use Property in Marion, Indiana

      Mixed-use property with office spaces available for lease in Marion.
      3742 S Western Ave, Marion, IN 46953
      View Details
    • Contact for pricing
      2,640 SF

      Retail Space on South Western

      Retail space with high visibility and solid traffic counts.
      3016 S Western Ave, Marion, IN 46953
      View Details
    • Contact for pricing

      Commercial Space Available For Lease

      Commercial space available for lease.
      4012 S Western Ave, Marion, IN 46953
      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 46953
      View Details
    • Contact for pricing

      Retail/Commercial Space in Marion

      Premier leasing opportunity for retail or commercial ventures.
      3220 S Washington St, Marion, IN 46953
      View Details
    • $1.00 SF/Yr
      2,940 SF

      Retail and Service Space Available

      Retail and service area with overhead door in rear.
      2021 S Western Ave, Marion, IN 46953
      View Details
    View Listing
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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.

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