The synthesis, X-ray structure, and magnetic properties of a trinuclear iron complex with the formulation [Fe3O2Cl2(4,7-Me-phen)6](BF4)3 (complex 1) are reported. DC magnetic susceptibility measurements show the Fe atoms are antiferromagnetically coupled, yielding an S=5/2 ground state. An investigation as to whether complex 1 exhibits the properties associated with single-molecule magnetism was undertaken. Detailed high frequency EPR experiments were carried out to determine the spin Hamiltonian parameters associated with the S=5/2 spin ground state. Analysis of the temperature dependence of the transitions seen with the magnetic field oriented along the easy axis (z axis) of the Fe3 complex confirm that the molecule has a positive D value. A fit of the frequency dependence of the resonances afforded the following spin Hamiltonian parameters: S=5/2, gz=1.95, gx=gy=2.00, D=0.844 cm−1, E=±0.117 cm−1, and B40=−2.7×10−4 cm−1. Low temperature magnetization versus magnetic field data confirm that complex 1 has no barrier towards magnetization reversal. Thus, it is concluded that, due to the positive D-value, complex 1 is not a single-molecule magnet.