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    The Largest CRE Database in the US with Over 1 Million Listings

    6240 N Gateway Dr Marion, IA 52302

    Sponsored
    For Sale
    $3,795,000

    Investment,Retail,Special Purpose - Marion, IA

    Property size:
    22,451 SF
    Lot size:
    1.58 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 17 at 12:06 am

    Property Features for 6240 N Gateway Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    BR
    APN
    150410100700000
    Size
    22,451 SF
    Lot size
    1.58 Acres

    Utilities

    Heating system
    Central, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    2020
    Flooring type
    Concrete
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Charlie Potter
    Charlie Potter

    Potter Real Estate (319) 377-5056

    Listing agent Charlie Potter (319) 377-5056

    Listing date Feb 16, 2026

    MLS# 2601101 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Building Near Highway

    Located near the intersection of Highway 13 and Highway 151 in Marion, this 22,451 square foot engineered steel building offers a commercial opportunity in a rapidly expanding area. The property features 19,000 square feet on the main floor, situated amidst new hotels, restaurants, and gas stations. The building includes 26' side walls and three 12'x12' glass overhead doors. A fully equipped commercial kitchen, plumbed for a hood vent and grease trap, is available with negotiable appliances. The grand foyer resembles a hotel lobby. An open gym area provides possibilities for fitness classes, events, showroom, or other activities. A full glass wall divides the entry. The second floor features three bays or rooms, suitable for installing golf simulators or creating private office or event spaces. A private office with its own restroom is included, along with a viewing area overlooking the gym. Outside, the property offers a concrete parking lot with 70 parking stalls, including three handicap spaces. The property is suited to accommodate a range of business ventures, such as a retail outlet, corporate offices, showroom, indoor sports, or entertainment venue.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Victory Gymnastics Training Center, Cedar Rapids Boxing, Xpress 24/7

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Linn
    State
    Iowa
    Longitude
    -91.5437456
    Latitude
    42.0342161

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    FAQs

    What type of property is this?
    Fitness center & gym - 22,451 SF commercial building near Highway 13 and 151.
    Where is this fitness center & gym located?
    The property is located at 6240 N Gateway Dr Marion, IA.
    What is the asking price?
    The asking price for this property is $3,795,000.
    What are key features of this property?
    This property features: - Prime Location: High visibility at the intersection of Highway 13 and Highway 151.; - Versatile Space: 22,451 sq ft building suitable for various purposes.; - Commercial Kitchen: Fully equipped, ideal for events.
    (319) 377-5056
    Request Owner's contact information
    6240 N Gateway Dr Marion, IA 52302
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    Marion, IA 52302
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6240 N Gateway Dr Marion, IA 52302
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    We can help!
    Listing Contact
    Charlie Potter
    Charlie Potter
    (319) 377-5056 (319) 533-2293
    Learn more
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