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3148 S Western Ave
Marion, IN 46953
Retail Property For Sale
EXECUTIVE SUMMARY
Applebee’s (Flynn Restaurant Group) has signed a 15-year Absolute NNN lease, ensuring zero landlord responsibilities. Located in the county seat of Grant County, the site sits on a hard-corner outlot to Walmart Supercenter, benefiting from an existing traffic signal and positioning on an extremely high-profile retail pad with strong co-tenants including IHOP, Fazoli’s, Starbucks, and Taco Bell. Applebee’s has operated in Marion since 1995 and is relocating to this prime, high-visibility location with stronger co-tenancy and increased traffic (25,697 ADT). The restaurant has consistently performed well, and Applebee’s has high expectations for this upgraded site, set to open in Q4 2025.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,675 SF
Building Class
B
Year Built/Renovated
1991/2009
Price
$3,239,741 CAD
Price Per SF
$422.12 CAD
Cap Rate
5.95%
NOI
$192,765 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.34 AC
PROPERTY TAXES
| Parcel Number | 27-06-13-800-007.002-008 | Improvements Assessment | $1,214,142 CAD |
| Land Assessment | $342,433 CAD | Total Assessment | $1,556,574 CAD |
PROPERTY TAXES
Parcel Number
27-06-13-800-007.002-008
Land Assessment
$342,433 CAD
Improvements Assessment
$1,214,142 CAD
Total Assessment
$1,556,574 CAD
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