1605 Kem RdMarion, IN 46952

Property Details for 1605 Kem Rd

Year built

1950

Construction

WOOD

Lot size

0.46 AC

Property size (Sq ft)

1,868 SF

Property type

Office properties

APN

27-03-36-402-005.000-023

APU

270336402005000023

Description

This exceptional investment opportunity presents a 1,868 square foot office building situated on a 20,978 square foot lot in Marion, Indiana. Built in 1950, this single-story Class C building features two units currently at 67% occupancy, offering a stabilized investment with a modified lease type. The property boasts ten parking spaces and is zoned GB, providing flexibility for various uses. The building's prime location within a thriving business district offers convenient access to major roadways, ensuring ease of access for tenants and clients. Nearby attractions enhance the area's appeal, making it attractive to both employees and clients. The asking price is $150,000. The net rentable area is 1,868 square feet. This presents a compelling opportunity for investors seeking a well-positioned property in a dynamic and convenient location. The property's current tenant is Edward Jones. The address is 1605 W Kem Rd, Marion, IN 46952.

• CAP approach

  CAP return

  Valuation

  6%

  $320,230

  6.5%

  $295,597

  7%

  $274,483

• Comparable approach

  Method

  Valuation

  Relative Method

  $180,664

  Geo Method

  $231,987

• Alternative Use

  Use

  Valuation

  Residential

  $366,540

  Hospitality

  $335,749

  Educational

  $279,339

  Medical

  $288,946

  Retail

  $434,527

Location Insight

City

Marion

County

Grant

State

Indiana

Latitude

40.5742

Longitude

-85.6801

CBSA code

31980

CBSA name

MARION, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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