3248 S Western Ave
Marion, IN 46953
Marion Crossing · Retail Property For Sale

Strategically positioned between the two largest cities in the state of Indiana, Marion is located an hour North of Indianapolis and fifty minutes Southwest of Fort Wayne. The offered property is a 7,440 square foot, five-unit building, positioned on S Western Ave that sees 27,341 vehicles per day. S Western Ave is the main north/south thoroughfare in the market and home to the strongest retail corridor in the area. National tenants in the corridor include Wal-Mart, Lowes, Meijer, Starbucks, Walgreens, T.J. Maxx, Hobby Lobby, Tractor Supply Co, Sprint, AT&T, GameStop, Dollar Tree, and many more. Built in 2014, the offered property is located on a Wal-Mart out parcel and is 100% leased. The property is occupied by five national retailers, which have term remaining on their leases. Three of the tenants (GNC, H&R Block, and Manpower) are corporate locations and the other two (Verizon Wireless and Great Clips) leases are with established operator/franchise entities. Four of the tenants (Verizon, Great Clips, GNC, and H&R Block) have an expiration in 2024 or later, while the other (Manpower) expires in 2022. All five tenants reimburse the property owner for CAM, Taxes, and Insurance costs, removing the risk of cost fluctuations to the new buyer. In addition, all five tenants pay an Administrative Fee ranging from 10%-15%, and three of the tenants also pay a Management Fee. The Cellular Connection is the largest Verizon Wireless premium dealer in the country with over 878 stores nationally, $2.3 billion in 2018 annual revenues, and 2,400+ employees. With a world-wide network of over 8,400 stores and 5,900 employees, GNC (NYSE: GNC) is a publicly traded retailer with $2.4 billion in 2018 annual revenue and is currently trading at $1.37 per share. Great Clips is a 100% franchised company with more than 4,200 salons and 40,000 stylists. Future Keys, Great Clips franchisee, is based in Indianapolis and has 66 salon locations. H&R Block (NYSE: HRB) is a global consumer tax services provider with approximately 12,000 company-owned and franchise retail tax offices worldwide. In fiscal 2018, H&R Block had annual gross revenue of over $3.1 billion with over 23 million tax returns prepared worldwide and is currently trading at $26.87 per share. Manpower Group Inc. (NYSE: MAN) is a world leader in innovative workforce solutions and services, with nearly 2,600 offices, 30,000 employees, and located in 80 countries and territories. They are a publicly traded company with a current share price of $90.28, and 2018 gross revenue of $22.0 billion.