Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    501 7Th Ave Marion, IA 52302

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Profitable investment with long-term tenant and recent renovations.

    Property size:
    5,000 SF

    Property Features for 501 7Th Ave

    General Information

    Standard status
    Active
    Size
    5,000 SF

    Building Details

    Year built
    1999

    We can help!

    Listing Contact
    Tim Nash
    Source: Exitrealty

    Listing Agency: SKOGMAN REALTY Listing Agent: Tim Nash

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

    Learn more

    Overview

    Anytime Fitness Investment Opportunity

    This property presents an investment opportunity with a regional Anytime Fitness franchisee. The tenant recently completed a $50,000 interior refresh. The lease has 3.5 years remaining on a 6-year term, with scheduled rate increases. The tenant is responsible for property taxes, while the landlord covers maintenance and building insurance. The 5,000 square foot building is in good condition, with recent improvements including a full interior and exterior renovation and addition in 2017, which included new HVAC. A new roof was installed in 2020, and the parking lot asphalt was replaced in 2022. The property benefits from a highly visible location with a strong traffic count.
    Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Similar Places Nearby

    Select Physical Therapy - MAC North, Marion Independent Fitness Center (YMCA), Marion Stadium, The M.A.C. Xtreme, Studio 200 Yoga

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Linn
    State
    Iowa
    Longitude
    -91.6048457
    Latitude
    42.0330327

    Nearby Similar for Sale

    • $159,900
      1,600 SF

      Marion Duplex: Investor Opportunity

      Well-maintained Marion duplex with long-term tenants and separate utilities.
      535 8Th Ave, Marion, IA 52302
      View Details
    • $230,000
      1,716 SF

      Marion Duplex Near Parkview Elementary

      Side-by-side duplex near school and park, remodeled unit.
      310 4Th St, Marion, IA 52302
      View Details
    • New
      $474,950
      4,800 SF

      Marion Office Investment Opportunity

      All-brick office building with long-term tenants and solar energy integration.
      888 10Th St, Marion, IA 52302
      View Details
    • $199,900
      975 SF

      Marion Commercial Property For Sale

      Commercial property near downtown Marion with high traffic count.
      605 8Th Ave, Marion, IA 52302
      View Details
    • $260,000
      Pending

      Marion Multifamily Property For Sale

      Multifamily property in Marion, Iowa, with 3,100 square feet.
      4681 Vasey Ave, Marion, IA 52302
      View Details
    • $620,000
      7,830 SF

      Warehouse Investment Opportunity in Marion

      Warehouse with existing income stream and outdoor storage.
      3243 Epic Dr, Marion, IA
      View Details
    • $1,625,000
      10,800 SF

      Elegant Event Center with Expansion

      Premier event center ideal for weddings, galas, and corporate functions.
      2987 Epic Dr, Marion, IA
      View Details
    • Contact for pricing
      0.19 Acres

      Prime Marion Retail Space

      High-visibility retail space, 0.19 acres.
      1000 7Th Ave, Marion, IA 52302
      View Details
    • $1,985,000
      15,000 SF

      Versatile Commercial Building in Marion, IA

      15,000 SF commercial building with additional mezzanine space for sale.
      6200 N Gateway Dr, Marion, IA 52302
      View Details
    • Contact for pricing
      5,210 SF

      Uptown Marion Office Suite

      Two-room office suite in the heart of Uptown Marion.
      642 10Th St, Marion, IA 52302
      View Details
    • $3,795,000
      22,451 SF

      Versatile Commercial Building Near Highway

      22,451 SF commercial building near Highway 13 and 151.
      6240 N Gateway Dr, Marion, IA 52302
      View Details
    • Contact for pricing
      7,400 SF

      Retail Space in High-Traffic Area

      Prime retail space in Marion, IA, available June 2026.
      1101 Eagleview Blvd, Marion, IA 52302
      View Details

    FAQs

    What type of property is this?
    Fitness center & gym - Profitable investment with long-term tenant and recent renovations.
    Where is this fitness center & gym located?
    The property is located at 501 7Th Ave Marion, IA.
    What are key features of this property?
    This property features: - Established Anytime Fitness franchisee with recent $50,000 interior refresh.; - Tenant pays property taxes.; - New roof (2020) and parking lot (2022).
    (319) 366-6427
    Request Owner's contact information
    501 7Th Ave Marion, IA 52302
    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.
    501 7Th Ave
    Marion, IA 52302
    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
    501 7Th Ave Marion, IA 52302
    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

    We can help!
    Listing Contact
    Tim Nash
    (319) 366-6427
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!