332 N Prospect St — Dealer Lot | Marion OH
Turn-key dealer lot — eligible for two Ohio licenses | leased through May 2027
Marketing description
332 N Prospect St is a rare, turn-key used-car dealer location just north of downtown Marion. The site pairs a ±376 SF office building (built 1960) with a ±1,281 SF drive-under canopy and a ±7,800 SF concrete display lot on a ±0.19-acre parcel — configured to meet Ohio's established-place-of-business standard for a motor vehicle dealer license. Because Ohio requires only a 180 SF office and a 3,500 SF hard-surface display area per dealer, the concrete lot is large enough to support two separate display areas, making the site eligible for up to two dealer licenses.
The property is currently leased at $1,400/month (modified gross) with the lease expiring May 2027, so a buyer collects income now and can occupy the site — and pursue the licenses — when the lease ends. Recent improvements include a new concrete lot (2020) and an updated metal roof (2021). There is no water or plumbing on site, ideal for a low-overhead dealer-license office/display use.
Buyer to verify zoning, permitted uses, and dealer-license eligibility with the City of Marion and the Ohio BMV.
Investment highlights
Eligible for two Ohio used-car dealer licenses — the ±7,800 SF concrete lot supports two 3,500 SF display areas
±376 SF office building (built 1960) plus a ±1,281 SF drive-under canopy for sheltered display
Income in place: leased at $1,400/mo modified gross with the lease expiring May 2027
New concrete display lot (2020) and updated metal roof (2021)
Near downtown Marion with quick access to Main St / US-23
±0.19 AC parcel — low overhead, owner-user upside once the lease expires
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