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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 started when Macon Brock, Doug Perry, and Ray Compton opened the first only dollar store in Georgia. The company expanded rapidly through the 1990s, acquiring competitors like Dollar Bill and Clearance Centers. In 2015, Dollar Tree merged with Family Dollar, creating a retail giant with thousands of locations across North America. Today, the company operates both Dollar Tree and Family Dollar stores that sell everything from household goods to frozen foods. Dollar Tree emphasizes value and convenience in all its product offerings.

  • Retailer
  • -
  • -
  • -
  • -

Goodwill Industries International is a nonprofit organization that provides employment support, job training, and community-based programs to individuals facing barriers to work. Founded in 1902 by Reverend Edgar J. Helms in Boston, the organization began by collecting donated household goods and clothing to repair and distribute while offering work opportunities to individuals in need. Today, Goodwill Industries International serves as the central coordinating body for a network of autonomous local Goodwill agencies across the United States, Canada, and several other countries. The organization oversees mission support, strategic planning, and national initiatives designed to expand workforce training and economic mobility. Goodwill’s services include career counseling, skills education, and placement assistance for job seekers such as veterans, people with disabilities, and individuals with limited work experience.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer - - Single Net -
Information - - - -
Retailer - - - -
Retailer - - - -
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100

Nearby Major Retailers

7 Brew Coffee
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
$699,600
Total Assessment
$1,546,700
  • Listing ID: 34465726

  • Date on Market: 1/13/2025

  • Last Updated:

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

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