Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    711 W Gardner Dr Marion, IN 46952
    Back to Search
    Property profile & analytics

    711 W Gardner Dr, Marion, IN 46952

    View on Map
    • Medical Office Space
    • 10,972 SF
    • 1.03 lot acres
    For Sale
    $1,300,000
    View Listing →
    Excellent Condition Office Building For Sale
    $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
    View Listing
    Property ID
    US31-1455476
    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

    • Dr. Lynnette M. Watkins, MD / Physician
    • Marion Eye Specialist And Surgery / Physician
    • Rita Singh, MD / Physician
    • Eye Surgeons / Eye Care Center
    • Thomas J Chowattukunnel, MD / Physician

    Property Details for 711 W Gardner Dr

    Year built
    1985
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.03 lot acres
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    27-02-31-201-016.000-002
    APU
    270231201016000002

    Description

    This exceptional 10,972 square foot office building is strategically located at 711 W Gardner Drive in Marion, Indiana, on State Road 9, just northeast of the SR 9 and SR 15 intersection. The property sits on a 1.03-acre lot, offering ample on-site parking and excellent visibility for businesses seeking high traffic exposure. The building is in excellent condition and presents a fantastic investment or owner-user opportunity. Its versatile floor plan allows for a multitude of uses, including flex space, medical offices, executive suites, or multi-tenant configurations. The interior layout is designed to be user-friendly and adaptable to various operational needs. The building's prime location on a state highway ensures easy access and benefits from a high traffic count, making it an ideal location for businesses seeking maximum visibility and accessibility. This property offers a rare combination of size, location, and condition, making it a highly desirable commercial investment. The public-friendly design of both the interior and exterior spaces further enhances its appeal and potential for a wide range of businesses. Don't miss this opportunity to acquire a well-maintained, high-visibility office building in a thriving location.

    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
    -85.6689
    Latitude
    40.5795
    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
    $26,715
    $200,900
    $689,600
    $890,500
    -
    $200,900
    $689,600
    $890,500

    Comparable in this City

    • Value Estimation
      $905,000
      21,290 SF

      831 Theatre Dr

      MEDICAL BUILDING
      831 Theatre Dr, Marion, IN 46952-1701
      View Details
    • Value Estimation
      $635,000
      44,944 SF

      1391 Baldwin Ave

      MEDICAL BUILDING
      1391 Baldwin Ave, Marion, IN 46952-1913
      View Details
    • Value Estimation by Request
      2,226 SF

      211 D St

      MEDICAL BUILDING
      211 D St, Marion, IN 46952-3732
      View Details
    • Value Estimation by Request
      3,104 SF

      1900 Kem Rd

      MEDICAL BUILDING
      1900 Kem Rd, Marion, IN 46952-1548
      View Details
    • Value Estimation by Request
      12,344 SF

      707 Riv Dr

      MEDICAL BUILDING
      707 Riv Dr, Marion, IN 46952-2765
      View Details
    • Value Estimation by Request
      8,788 SF

      119 Washington St

      MEDICAL BUILDING
      119 Washington St, Marion, IN 46952-3805
      View Details

    Similar Nearby for Sale

    • $525,000
      10,600 SF

      Prime Marion Medical Office Building

      10,600 SF Multi-Tenant Medical Office
      1001 Western Ave, Marion, IN 46952
      View Details
    • New
      $299,900
      3,618 SF

      Professional Arts Office Building

      Professional office building with excellent curb appeal and paved parking.
      703 W Chapel Pike, Marion, IN 46952
      View Details
    • $94,900
      0.20 Acres

      High Traffic Location Office Building

      Professional office building with high visibility and ample parking.
      1328 W 2Nd St, Marion, IN 46952
      View Details
    • Contact for pricing
      33,315 SF

      Downtown Marion Office Building

      33,315 SF office building in Marion's central business district.
      131 N Washington St, Marion, IN 46952
      View Details
    • Contact for pricing
      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

    • Contact for pricing
      2,196 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
    • $1,375 /Mo
      1,758 SF

      Marion Office Space For Rent

      Well-maintained office space with bypass frontage in Marion, Indiana.
      1125 N Baldwin Ave, Marion, IN 46952
      View Details
    • Contact for pricing

      Freestanding Restaurant or Retail Opportunity

      6,705 SF freestanding restaurant or retail opportunity in Marion, Indiana.
      1510 W Braewick Dr, Marion, IN 46952
      View Details
    • Contact for pricing

      Retail Space at Five Points Mall

      Prime retail space available in Marion, Indiana's Five Points Mall.
      1128 N Baldwin Ave, Marion, IN 46952
      View Details
    • Contact for pricing
      15,660 SF

      Industrial Flex Space For Lease

      Turnkey industrial flex space with warehouse and office areas.
      1804 W 2Nd St, Marion, IN 46952
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    711 W Gardner Dr
    Marion, IN 46952
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    711 W Gardner Dr, Marion, IN, 46952
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!