Remodeled Two-Story Mixed-Use
For Sale
$225,000
448 7th Ave, Marion, IA 52302
Commercial, Marion, IA
Property Size2,023 SF
Price / SF$111.22
Days on Market232
Property Features for 448 7th Ave
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
UTC-1
Rooms
Basement
Directions
On 7th Ave in West Marion
Subdivision
Marion
Standard status
Active
APN
140113101800000
Size
2,023 SF
Taxes and HOA fees
Tax Description
E60' S120' Lot 10 in Lot 8 Irr Sur NE
Tax Annual Amount
4172
Legal Description
E60' S120' Lot 10 in Lot 8 Irr Sur NE
Amenities
handicap-accessible features
off-street rear parking lot
washer/dryer hookups
owned water softener
dehumidifier
clean dry basement
storage area with floor drain and hot/cold water
Building Details
Year built
1900
Flooring type
Wood, Concrete
Building materials
Frame
Roof type
Shingle
Listing Agency:
Realty87 · Coldwell Banker Real Estate
(319) 378-8760
Listed By:
Jim Zachar
(319) 367-8760
Added: Feb 16
Changed: Sep 13
Last Checked: Oct 6 at 12:06PM
MLS# 2601024
Copyright © 2026 Cedar Rapids Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story mixed-use property at 448 7th Ave in Marion includes 2,023 square feet and was built in 1900. The building has been remodeled with new electrical work, handicap-accessible features, concrete and wood flooring, and a shingle roof. The main level offers flexible walls for layout customization, two bathrooms, and washer/dryer hookups. A clean, dry basement provides additional storage, including an area with a floor drain and hot and cold water. The property also includes an owned water softener and dehumidifier.
The upper level contains an updated apartment with a private entrance. Off-street parking is located behind the building. Positioned at the entrance to historic Uptown Marion, the property is identified as UTC-1 zoning and combines commercial space with a separate residential component.
The upper level contains an updated apartment with a private entrance. Off-street parking is located behind the building. Positioned at the entrance to historic Uptown Marion, the property is identified as UTC-1 zoning and combines commercial space with a separate residential component.
Key Highlights
- 2,023 square feet across a two‑story mixed‑use building
- Built in 1900 with remodeling that includes new electrical work
- Updated upstairs apartment with a private entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,129
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,580
$382.6K
Cap Rate 7%
$273,271
$273.3K
Cap Rate 9%
$212,544
$212.5K
Market Conditions
NOI Build-Up for 2,023 SF
Gross rent
$29.6K $14.64/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$27.3K $13.51/SF
− OpEx
−$8.2K −$4.05/SF
NOI
$19.1K $9.46/SF
Area
Linn County, IA
Vacancy
7.73%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,580
Cap Rate 7%
$273,271
Cap Rate 9%
$212,544
Alternative Uses
Best Use
Retail
$273.3K
$239.1K – $318.8K
NOI $19,129 @ 7.0% cap · market cap 8.50%
Second Best
Mixed Use
$255.8K
$223.9K – $298.5K
NOI $17,909 @ 7.0% cap · market cap 7.96%
Theoretical Best
Self Storage
$340.5K
$297.9K – $397.2K
NOI $23,833 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
Explore this area
Business Placement
Demographics for 52302, IA
43,130
Population
18,153
Households
2.4
Avg Household Size
39
Median Age
39%
College-Educated
97%
High-School Grad
74.3 sq mi
ZIP Area
580
Density / Sq Mi
$87,463
Median Household Income
$50,234
Median Earnings
$963
Median Rent
$232,900
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Zoned UTC-1 with an updated apartment, flexible main-floor layout, and rear off-street parking.
Where is this mixed-use property located?
The property is located at 448 7th Ave Marion, IA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 2,023 square feet across a two‑story mixed‑use building; Built in 1900 with remodeling that includes new electrical work; Updated upstairs apartment with a private entrance
