Flex Space with Warehouse
For Sale
Contact for pricing
1199 44th Street, Marion, IA 52302
Office and warehouse areas accommodate distribution, light industrial, or combined operations.
Property Size35,900 SF
Price / SF$80.22
Days on Market200
Property Features for 1199 44th Street
General Information
Standard status
Active
Size
35,900 SF
Class
B
Property subtype
Industrial, Office, Retail
Zoning
M1
Lease Type
Net
Additional Details
Highway Access
Yes
Amenities
Solar panel system
Building Details
Year Built
2005
Year Renovated
2019
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Skogman Commercial Group Cedar Rapids
Listed By:
John Beardsworth · License #IA S68410000
Source:
Crexi
Added: Feb 13
Changed: Aug 30
Last Checked: Aug 31 at 1:22PM
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 Skogman Commercial Group Cedar Rapids
Investment Insights
Based on property information with market context.
Located at 1199 44th Street, the property contains approximately 35,900 SF arranged for office and warehouse functions. The configuration is suited to distribution, light industrial, or combined operations, with loading and internal circulation incorporated into the existing layout. The building was constructed in 2005 and includes a rooftop solar panel system.
The Marion property offers access to Hwy 151 and Hwy 13, along with generous on-site parking. M1 zoning supports its industrial-oriented profile. The combination of office space, warehouse area, loading functionality, and highway access provides a practical setting for businesses requiring both administrative and operational components.
The Marion property offers access to Hwy 151 and Hwy 13, along with generous on-site parking. M1 zoning supports its industrial-oriented profile. The combination of office space, warehouse area, loading functionality, and highway access provides a practical setting for businesses requiring both administrative and operational components.
Key Highlights
- Approximately 35,900 SF of office and warehouse space
- M1 zoning for an industrial‑oriented property profile
- Access to Hwy 151 and Hwy 13
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
$211,766
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
7.35%
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%
$4,235,320
$4.2M
Cap Rate 7%
$3,025,229
$3.0M
Cap Rate 9%
$2,352,956
$2.4M
Market Conditions
NOI Build-Up for 35,900 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
$264.2K $7.36/SF
− Vacancy
−$15.1K −$0.42/SF
EGI
$249.1K $6.94/SF
− OpEx
−$37.4K −$1.04/SF
NOI
$211.8K $5.90/SF
Area
Linn County, IA
Vacancy
5.71%
Lease Rate
$7.36 /SF/Yr
Expense Ratio
15.00%
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%
$4,235,320
Cap Rate 7%
$3,025,229
Cap Rate 9%
$2,352,956
Alternative Uses
Best Use
Warehouse
$3.03M
$2.65M – $3.53M
NOI $211,766 @ 7.0% cap · market cap 7.35%
Second Best
Industrial
$2.49M
$2.18M – $2.91M
NOI $174,396 @ 7.0% cap · market cap 6.06%
Theoretical Best
Self Storage
$6.04M
$5.29M – $7.05M
NOI $422,938 @ 7.0% cap · market cap 14.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Hy-Vee Catering — 3600 US-151, Marion, IA 52302
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas accommodate distribution, light industrial, or combined operations.
Where is this flex space located?
The property is located at 1199 44th Street Marion, IA.
What is the asking price?
The asking price for this property is $2,880,000.
What are key features of this property?
This property features: Approximately 35,900 SF of office and warehouse space; M1 zoning for an industrial‑oriented property profile; Access to Hwy 151 and Hwy 13
