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3148 S Western Ave 7,675 SF Retail Building Marion, IN 46953 $2,222,222 ($289.54/SF) 6.30% Cap Rate
Executive Summary
Applebee’s (Flynn Restaurant Group) has signed a 15-year Absolute NNN lease, providing zero landlord responsibilities. Located in the county seat of Grant County, the property occupies a signalized hard-corner outlot to Walmart Supercenter and benefits from exceptional visibility, 25,697 ADT, and strong co-tenants including IHOP, Fazoli’s, Starbucks, and Taco Bell. After operating in Marion since 1995, Applebee’s relocated to this premier retail corridor, where the restaurant has performed exceptionally well since opening in March, further demonstrating the strength of the location and the brand’s long-term commitment to the market.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,675 SF
Building Class
B
Year Built/Renovated
1991/2026
Price
$2,222,222
Price Per SF
$289.54
Cap Rate
6.30%
NOI
$140,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.34 AC
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 27-06-13-800-007.002-008 | Improvements Assessment | $875,900 |
| Land Assessment | $248,700 | Total Assessment | $1,124,600 |
Property Taxes
Parcel Number
27-06-13-800-007.002-008
Land Assessment
$248,700
Improvements Assessment
$875,900
Total Assessment
$1,124,600
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