Share This Listing

Message

916 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Still interested?

Contact the broker for more information about this property

Valley View Plaza | Dollar Tree Extension 3164 S Western Ave 37,193 SF 100% Leased Retail Building Marion, IN 46953 $4,200,000 ($112.92/SF) 8.43% Cap Rate

Save this listing!

Favorite this listing to get notified of price updates, new media and more

INVESTMENT HIGHLIGHTS

  • Value-Add Opportunity: Valley View Plaza is 87.1% occupied, with 4,800 square feet of shop space available to lease up.
  • Recent Lease Extensions: National tenants Goodwill, Dollar Tree, Cato, and Cricket Wireless have all recently extended their leases
  • New ownership will enjoy benefiting from Indiana’s low property tax expense.
  • Impressive National Tenant Line-Up with Dedication to Site: 93% of the center is occupied by national tenants
  • Prime location along the bustling Western Avenue, which sees a significant daily flow of 24,007 vehicles passing per day
  • Traffic Generating Shadow Anchor & Nearby National Retailers

EXECUTIVE SUMMARY

Qualified investors are extended the opportunity to acquire Valley View Plaza, a 37,193-square-foot shopping center located in a prime retail corridor serving the suburb of Marion, Indiana. The Property is conveniently situated along Western Avenue, and is shadow-anchored by Walmart. Valley View Plaza is positioned between Fort Wayne and Indianapolis in Marion, Indiana, a suburb in Grant County. Additionally, the county is home to Wesleyan University and Marion General Hospital. Furthermore, the Fort Wayne International Airport is conveniently situated 45 minutes northeast of Marion.
Valley View Plaza is 87.1% occupied, presenting a value-add opportunity to drive NOI by leasing up the 4,800 square feet of vacancy. The Property is leased to a mix of national tenants including Goodwill, Dollar Tree, and CATO. The Property is located along the Western Avenue retail corridor in Marion, the dominant retail hub the trade area. The submarket is anchored by many national retailers, including Meijer, Hobby Lobby, TJ Maxx, Lowe’s Home Improvement, R.P. Home & Harvest, and more.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
37,193 SF
Building Class
B
Year Built
1999
Price
$4,200,000
Price Per SF
$112.92
Cap Rate
8.43%
NOI
$354,060
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
4.71 AC
Parking
183 Spaces (4.92 Spaces per 1,000 SF Leased)

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Retailer
  • -
  • -
  • Single Net
  • -

The Cato Corporation, a leading specialty retailer with corporate offices located in Charlotte, NC, operates under three concepts, “Cato”, “Versona” and “It’s Fashion”. Each concept targets a different customer base, occupies a unique niche, and provides growth opportunities. Across all concepts, the Company provides the latest in fashion apparel and accessories, superior customer service and exceptional values. With stores nationally spread out, The Cato Corporation offers a broad assortment of on-trend fashion styles for any occasion – work or play, dressy or casual in missy and plus sizes at value prices every day. The company focuses on delivering excellence in fit, quality, fabrics and selection.

  • Information
  • -
  • -
  • -
  • -

Founded in 1999, Cricket Wireless operates as a prepaid wireless telecommunications provider in the United States. Originally established by Leap Wireless, the brand focused on no-contract mobile services designed for cost-conscious consumers. In 2014, Cricket Wireless became a wholly owned subsidiary of AT&T following AT&T’s acquisition of Leap Wireless. The acquisition integrated Cricket into AT&T’s national network infrastructure while maintaining Cricket as a distinct prepaid brand. Cricket provides voice, text, and data services using AT&T’s wireless network, including access to 4G LTE and 5G coverage where available. The company distributes services through company-operated and authorized retail locations, as well as online channels. Over time, Cricket expanded from its initial regional footprint to a nationwide presence supporting consumer prepaid plans and device offerings.

  • Retailer
  • -
  • -
  • -
  • -

Dollar Tree is a U.S.-based discount variety retailer headquartered in Chesapeake, Virginia. The company traces its origins to 1953, with its modern Dollar Tree format established in 1986 under the name Only $1.00. It adopted the Dollar Tree name in 1991 and has since expanded across the United States and Canada. Dollar Tree operates retail stores that sell a broad assortment of consumable goods, household products, seasonal merchandise, party supplies, and basic grocery items at fixed or limited price points. The company became publicly traded in 1995 and is listed on the NASDAQ under the ticker symbol DLTR. Over time, Dollar Tree has pursued growth through store expansion and strategic acquisitions, establishing itself as a major value-oriented retailer within the consumer defensive sector. The company reports financial results through public filings and maintains centralized oversight of real estate strategy, store development, and lease administration through its corporate offices.

  • Retailer
  • -
  • -
  • -
  • -

Goodwill Industries is a nonprofit organization founded in 1902 and headquartered in Rockville, Maryland, with regional operations across the United States. Goodwill operates as a retail thrift store offering donated clothing, household goods, and furniture. Revenue from sales supports job training, employment placement services, and community programs for individuals facing barriers to employment. Goodwill also focused on workforce development and sustainability initiatives. The organization remains privately held under its nonprofit structure and continues to expand its social enterprise model nationwide.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Retailer - - Single Net -
Information - - - -
Retailer - - - -
Retailer - - - -

NEARBY MAJOR RETAILERS

7 Brew
Starbucks
IHOP
Fazoli's
Bob Evans Restaurants
Steak ‘n Shake
Meijer
Regions Bank
Texas Roadhouse
Mcalister's Deli

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
27-06-13-800-007.005-008
Land Assessment
$847,100
Improvements Assessment
$566,300
Total Assessment
$1,413,400
  • Listing ID: 34465726

  • Date on Market: 1/13/2025

  • Last Updated:

  • Address: 3164 S Western Ave, Marion, IN 46953

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}