Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Marion Office Space For Rent Title is generated by Realmo AI

    3201-3301 Armar Dr, Marion, IA

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Office space available near St. Luke’s Hospital Marion ER Campus.

    Type:OFFICE
    Property size:
    29,434 SF
    Lot size:
    4.74 Acres
    Added:
    Jun 7, 2024
    Days on Market:
    729
    Last Refresh:
    May 19 at 10:46 pm

    Property Features for 3201-3301 Armar Dr

    General Information

    Standard status
    Active
    Size
    29,434 SF
    Lot size
    4.74 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 3201-3301 Armar Dr Contact us

    We can help!

    Listing Contact
    John Viggers, CCIM, CPM
    John Viggers, CCIM, CPM

    Listing agent John Viggers, CCIM, CPM

    Listing office Cushman & Wakefield

    Listing date Jun 7, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield

    HighLights

    • Home to St. Luke’s Hospital Marion ER Campus (opening Summer 2024)
    • Located in the Lindale Mall regional shopping area
    • 2,716‑29,434 SF office space available
    • Conveniently located off Marion Blvd (Business US 151) on the boundary between Marion and Cedar Rapids
    • Easily accessible with abundant parking and signage opportunities
    • Within 3 miles of Interstate 380

    Overview

    Available for lease is office space ranging from 2,716 to 29,434 square feet in Marion, Iowa. The property is conveniently located off Marion Boulevard (Business US 151), situated on the boundary between Marion and Cedar Rapids. It is located in the Lindale Mall regional shopping area, the largest retail district in Cedar Rapids, and is easily accessible with abundant parking. Signage opportunities are available on the building and on a monument sign along Business US 151. The property is within 3 miles of Interstate 380. The location is home to St. Luke’s Hospital Marion ER Campus, which is scheduled to open in the Summer of 2024.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Linn
    State
    Iowa
    Longitude
    -91.6151778
    Latitude
    42.0267004

    Nearby Similar for Lease

    • $1,650/Mo
      3,375 SF

      Industrial Space For Lease

      Industrial space available in Marion Industrial Park for $1,650/month.
      655 49th St, Marion, IA 52302
      View Details
    • $12 SF/Yr

      Prime Retail Space in Marion

      Retail space in Uptown Marion with high visibility and charm.
      1000- 1030 7th Avenue, Marion, IA 52302
      View Details
    • $16 SF/Yr
      7,305 SF

      Uptown Marion Mixed-Use Property

      Prime Uptown Marion property with established pub and apartments.
      1038-1048 7th Ave, Marion, IA
      View Details
    • $19 SF/Yr
      3,774 SF

      Retail Space with Drive-Thru

      Retail space with drive-thru in high-traffic Marion location.
      2590 6th Ave, Marion, IA
      View Details
    • Contact for pricing
      2,808 SF

      Former Restaurant Space For Sublease

      Restaurant space with drive-thru, high visibility, and ample parking.
      1925 7th Avenue, Marion, IA, 52302
      View Details
    • Contact for pricing
      10,920 SF

      Industrial Flex Space with Overhead Door

      Open industrial flex layout with high ceilings and overhead door access for light production, storage, or distribution.
      104-4151 3rd Ave, Marion, IA
      View Details
    • $9 SF/Yr
      14,183 SF

      Former Childcare Facility in Marion

      14,183 SF building ideal for education or community center.
      2770 18th Ave, Marion, IA 52302
      View Details
    • Contact for pricing
      8,700 SF

      Industrial Office Flex Sublease Campus

      Multi-building industrial and office sublease setup with options for warehouse, manufacturing, and outdoor laydown storage.
      B-200 35th St, Marion, IA
      View Details
    • Contact for pricing
      1,375 SF

      Marion Flex Space/Warehouse For Lease

      Flex space/warehouse featuring 14-foot overhead door and secured fencing.
      4160 3rd Avenue, Marion, IA 52302
      View Details
    • $9 SF/Yr
      12,000 SF

      New Construction Flex Space

      New construction flex space in Marion, Iowa, near Highway 151.
      6900 Partners Ave, Marion, IA
      View Details
    • Contact for pricing
      10,920 SF

      Industrial Flex Space For Rent

      Versatile industrial flex space with office capabilities in Marion, IA.
      106-4151 3rd Ave, Marion, IA
      View Details
    • Contact for pricing
      7,336 SF

      Flex Space with Warehouse

      Office and warehouse space available for rent.
      1070 Lyons Ln, Marion, IA, 52302-3121
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available near St. Luke’s Hospital Marion ER Campus.
    Where is this office units located?
    The property is located at 3201-3301 Armar Dr Marion, IA.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Home to St. Luke’s Hospital Marion ER Campus (opening Summer 2024); Located in the Lindale Mall regional shopping area; 2,716‑29,434 SF office space available
    (515) 778-2605 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing John Viggers, CCIM, CPM
    John Viggers, CCIM, CPM
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3201-3301 Armar Dr, Marion, IA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!