Building Details

Year Built 1894

Year Renovated 2024

Buildings 1

Stories 1

Construction masonry

Tenancy Multi

Listing Agency: GLD COMMERCIAL

Listed By: Rachel Waters · License #S71287000 Show Phone

Source: Cbhrealty

Added: Oct 12 Changed: Oct 16 Last Checked: Oct 16 at 8:28AM

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Investment Insights

Based on property information with market context.

Built in 1894, this mixed-use property contains 3,958 SF across a street-level retail storefront and second-floor apartment and studio office space. The storefront spans 1,967 SF and is occupied by Marion Chocolate Shop. The upper level totals 1,991 SF and is occupied by two tenants. Zoning is U-1.

Work completed in 2024 included updates to electrical systems, windows, doors, flooring, exterior masonry, cabinetry, and appliances. The property is located at 1060 7th Avenue in Uptown Marion, Iowa.

Key Highlights

• 3, 958 SF mixed‑use property with retail, apartment, and studio office space
• 1, 967 SF street‑level storefront occupied by Marion Chocolate Shop
• 1, 991 SF of second‑floor apartment and studio office space occupied by two tenants

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,426

Cap Rate

5.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$748,520 $748.5K

Cap Rate 7%

$534,657 $534.7K

Cap Rate 9%

$415,844 $415.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,958 SF

Gross rent

$57.9K $14.64/SF

− Vacancy

−$4.5K −$1.13/SF

EGI

$53.5K $13.51/SF

− OpEx

−$16.0K −$4.05/SF

NOI

$37.4K $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%

$748,520

Cap Rate 7%

$534,657

Cap Rate 9%

$415,844

Alternative Uses

Best Use

Retail

$534.7K

$467.8K – $623.8K (±1% cap)

NOI $37,426 @ 7.0% cap · market cap 5.35%

Second Best

Mixed Use

$500.6K

$438.0K – $584.0K (±1% cap)

NOI $35,039 @ 7.0% cap · market cap 5.01%

Theoretical Best

Self Storage

$666.1K

$582.9K – $777.2K (±1% cap)

NOI $46,629 @ 7.0% cap · market cap 6.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Dental Office Big Box & Wholesale Store Building Supply Daycare Center Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

702

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 Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Street-level retail is combined with second-floor apartment and studio office space.

Where is this mixed-use property located?

The property is located at 1060 7TH Avenue Marion, IA.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: 3, 958 SF mixed‑use property with retail, apartment, and studio office space; 1, 967 SF street‑level storefront occupied by Marion Chocolate Shop; 1, 991 SF of second‑floor apartment and studio office space occupied by two tenants