$1 Auction - REIT Sale | Former Denny’s 1050 Mount Vernon Ave 2 936 pi² Commerce de détail Immeuble Marion, OH 43302 102 422 $ CAD (34,88 $ CAD/pi²)

Marcus & Millichap is pleased to present a vacant, free-standing retail building located at 1050 Mount Vernon Avenue in Marion, OH, 43302 (the “Property”). Formerly occupied by Denny’s, the Property is being offered significantly below replacement cost, providing an excellent opportunity for owner/users or investors to acquire a highly visible and strategically positioned asset at a significant discount. FIRST BID MEETS RESERVE!
Built in 1989, the Property consists of a one-story, free-standing retail building containing ±2,936 square feet, with 42 parking spaces, on a ±0.55-acre parcel (±23,956 SF). The site offers exceptional frontage on a hard corner with ±172 feet on Mount Vernon Avenue and benefits from traffic counts of 19,365 vehicles per day (VPD). The Property was formerly occupied by Denny’s on a NNN lease, offering potential owner/users or investors significant value-add opportunities through lease-up at long-term market rates (CoStar estimated asking rent of $15-$20/SF NNN retail). Zoned “C5” Commercial, the Property benefits from flexible zoning allowances that support a wide variety of uses.
Marion, Ohio is a regional economic and transportation hub in north-central Ohio, located along Interstate?75 and U.S. Routes?23 and?30, providing strong connectivity to Columbus, Toledo, and the broader Midwest. The city’s economy is anchored by advanced manufacturing, automotive supply, healthcare, and logistics, with employers such as Whirlpool’s manufacturing complex and Marion General Hospital driving stable employment and supporting local demand. Located ±1 mile from downtown Marion, the area offers a thriving mix of dining, shopping, and attractions. This former Denny’s is located less than a mile from The Ohio State University at Marion, a major economic demand driver for the area with a total enrollment of 1,038 in 2023. The immediate trade area features both national and regional retailers, including Walmart, Lowe’s, Hobby Lobby, Kohl’s, Kroger, McDonald’s, TJ Maxx, Aldi, Harbor Freight, Chipotle, Wendy’s, Perkins, Buffalo Wild Wings, Applebee’s, CVS, Red Lobster, Ollie’s, along with a plethora of both QSRs and hospitality properties that drive consistent consumer traffic to the area. The Property also benefits from a strong residential base, with ±41,386 residents with an average household income of ±$59,130 in a 3-mile trade area and 48,022 residents with an AHHI of ±$61,571 within 5-miles, further enhancing the area’s retail potential.