Valley View Plaza | 3164 S Western Ave
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Valley View Plaza 3164 S Western Ave
37,000 SF 100% Leased Retail Building Marion, IN 46953 $3,524,670 ($95/SF) 8.50% Cap Rate
Investment Highlights
- Value-Add Opportunity:
- Traffick Generating Shadow Anchor & Nearby National Retailers
- Low Taxes
- Impressive National Tenant Line-Up with Dedication to Site:
- Excellent Accessibility
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 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 82.8% occupied, presenting a value-add opportunity to drive NOI by leasing up the 6,400 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.
Valley View Plaza is 82.8% occupied, presenting a value-add opportunity to drive NOI by leasing up the 6,400 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 Under Contract
Sale Type
Investment
Property Type
Building Size
37,000 SF
Building Class
B
Year Built
1998
Price
$3,524,670
Price Per SF
$95
Cap Rate
8.50%
NOI
$299,597
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
4.71 AC
Parking
183 Spaces (4.95 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 27-06-13-800-007.005-008 | Improvements Assessment | $572,800 |
| Land Assessment | $847,100 | Total Assessment | $1,419,900 |
PROPERTY TAXES
Parcel Number
27-06-13-800-007.005-008
Land Assessment
$847,100
Improvements Assessment
$572,800
Total Assessment
$1,419,900
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Valley View Plaza | 3164 S Western Ave
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