Two-Story Office
For Sale
$225,000
448 7th Ave, Marion, IA 52302
Commercial, Marion, IA
Property Size2,023 SF
Price / SF$111.22
Days on Market187
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
Building Details
Year built
1900
Flooring type
Concrete, Wood
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: Aug 19
Last Checked: Aug 22 at 4:06AM
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.
Fully remodeled two-story office building at 448 7th Ave in Marion, Iowa. The frame structure includes wood and concrete flooring, a shingle roof, and a clean dry basement with a storage area that has a floor drain and hot/cold water. Updates include new electrical and handicap-accessible features. The main floor offers flexible walling and includes two bathrooms, plus washer/dryer hookups. Additional systems include an owned water softener and a dehumidifier.
An updated apartment sits upstairs with its own private entrance, providing an on-site residential component. A convenient off-street rear parking lot supports day-to-day access.
Zoned UTC-1, the building is positioned for business use with adaptable interior space on the main level and an additional income-producing setup upstairs. Built in 1900, it blends historic Uptown character with modern improvements.
An updated apartment sits upstairs with its own private entrance, providing an on-site residential component. A convenient off-street rear parking lot supports day-to-day access.
Zoned UTC-1, the building is positioned for business use with adaptable interior space on the main level and an additional income-producing setup upstairs. Built in 1900, it blends historic Uptown character with modern improvements.
Key Highlights
- UTC‑1 zoning
- Fully remodeled with new electrical and handicap‑accessible features
- Main floor offers flexible walls plus two bathrooms and washer/dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,956
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$279,120
$279.1K
Cap Rate 7%
$199,371
$199.4K
Cap Rate 9%
$155,067
$155.1K
Market Conditions
NOI Build-Up for 2,023 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.4K $13.56/SF
− Vacancy
−$2.1K −$1.02/SF
EGI
$25.4K $12.54/SF
− OpEx
−$11.4K −$5.64/SF
NOI
$14.0K $6.90/SF
Area
Linn County, IA
Vacancy
7.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$279,120
Cap Rate 7%
$199,371
Cap Rate 9%
$155,067
Alternative Uses
Best Use
Apartment 5plus
$199.4K
$174.5K – $232.6K
NOI $13,956 @ 7.0% cap · market cap 6.20%
Second Best
Office B
$138.0K
$120.8K – $161.0K
NOI $9,661 @ 7.0% cap · market cap 4.29%
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
Property Profile
Current Use
Lease Details
1
Residential units
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Fully remodeled office building in UTC-1 zoning with off-street rear parking and accessible features.
Where is this office building 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: UTC‑1 zoning; Fully remodeled with new electrical and handicap‑accessible features; Main floor offers flexible walls plus two bathrooms and washer/dryer hookups
