1713 Marion-Mt Gilead Road, Marion, OH 43302 (MLS# 226026082)

Location & Property Info

List Price/SqFt

86.53

City (Mailing Addr)

Marion

Corp LimitPerAuditor

Marion

Office/Contract Info

For Sale

Yes

Exchange

No

For Lease

No

Lease Rate $/Sq Ft

0

Remarks & Misc

Property Description

Mallard Square is a +/-61,250 SF multi-tenant retail & office shopping center on +/-6.94 acres fronting State Route 95 (Marion-Mt. Gilead Rd), the busiest retail corridor in Marion with 30,000+ vehicles per day. Anchored by Habitat for Humanity and home to 20+ tenants including OhioHealth, State Farm, T-Mobile and Jet's Pizza, the center produces diversified in-place income with an 8.56% cap rate at the asking price, plus value-add upside from vacant suites and below-market rents. Directly across from The Ohio State University-Marion and Marion Technical College (4,200 students), with immediate access to U.S. 23 and co-tenancy alongside Walmart, Kohl's, Lowe's, Meijer and Menards. B-2 Community Business District zoning supports a broad range of retail, office, medical and service uses.

Income/Expenses

Gross Income

524000

Net Operating Income

453000

Total Expenses

104000

Addl Acceptance Cond

None Known

Yes

MLS Primary PhotoSrc

Realtor Provided

Yes

Property Features