Fully Occupied Office
For Sale
$399,950
888 10th Street, Marion, IA 52302
COMMERCIAL - Marion, IA
Property Size4,800 SF
Lot Size0.11 Acres
Price / SF$83.32
Days on Market101
Property Features for 888 10th Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Comm
Rooms
Basement
Directions
On 10th St Marion
Subdivision
Marion
Standard status
Active
APN
14011-05001-00000
Size
4,800 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
As Per Abstract
Tax Annual Amount
7495
Legal Description
As Per Abstract
Building Details
Year built
1966
Flooring type
Carpet
Building materials
Frame
Roof type
Membrane
Listing Agency:
RE/MAX CONCEPTS · RE/MAX International
(319) 395-0101
Listed By:
Scott Rosekrans-Rosekrans Stines Team
(319) 395-0101
Added: May 4
Changed: Aug 4
Last Checked: Aug 12 at 1:06AM
MLS# 2603095
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 fully occupied office building is set on a 0.11-acre lot and totals 4,800 square feet. Built in 1966, the property includes carpet flooring and a membrane roof. The layout supports multiple private offices, a conference room, two breakrooms, and restrooms on each level. The property also includes a basement.
The building is described as having updated mechanical systems and solar energy integration. It is maintained with stable, long-term tenants.
Zoning is listed as Comm, providing a straightforward fit for office users looking for a multi-room configuration within an established property footprint.
The building is described as having updated mechanical systems and solar energy integration. It is maintained with stable, long-term tenants.
Zoning is listed as Comm, providing a straightforward fit for office users looking for a multi-room configuration within an established property footprint.
Key Highlights
- Fully occupied office building with stable, long‑term tenants
- 4,800 SF office building on a 0.11‑acre lot
- Built in 1966 with carpet flooring and a membrane roof
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
$22,922
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
5.73%
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%
$458,440
$458.4K
Cap Rate 7%
$327,457
$327.5K
Cap Rate 9%
$254,689
$254.7K
Market Conditions
NOI Build-Up for 4,800 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
$40.3K $8.40/SF
− Vacancy
−$9.8K −$2.03/SF
EGI
$30.6K $6.37/SF
− OpEx
−$7.6K −$1.59/SF
NOI
$22.9K $4.78/SF
Area
Linn County, IA
Vacancy
24.20%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
25.00%
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%
$458,440
Cap Rate 7%
$327,457
Cap Rate 9%
$254,689
Alternative Uses
Best Use
Office B
$327.5K
$286.5K – $382.0K
NOI $22,922 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$807.8K
$706.9K – $942.5K
NOI $56,549 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
711
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
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Frequently Asked Questions
What type of property is this?
Office building - Office building on 0.11 acres with 4,800 SF, built in 1966, and designed for multiple private offices and meeting space.
Where is this office building located?
The property is located at 888 10th Street Marion, IA.
What is the asking price?
The asking price for this property is $399,950.
What are key features of this property?
This property features: Fully occupied office building with stable, long‑term tenants; 4,800 SF office building on a 0.11‑acre lot; Built in 1966 with carpet flooring and a membrane roof
