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    6407 Partners Ave, Unit 401 Marion, IA 52302

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    9,750 SF warehouse with retail/office potential and free rent.

    Property size:
    39,000 SF
    Lot size:
    4.20 Acres

    Property Features for 6407 Partners Ave

    General Information

    Standard status
    Pending
    Size
    39,000 SF
    Lot size
    4.20 Acres

    Building Details

    Year built
    2022

    We can help!

    Listing Contact
    Stefan Doerrfeld-Twenty Sales Team
    Source: Exitrealty

    Listing Agency: Twenty40 Real Estate + Development Listing Agent: Stefan Doerrfeld-Twenty Sales Team

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

    Learn more

    Overview

    Marion Warehouse with Free Rent

    This 9,750 square foot end unit warehouse is available for lease or purchase within the Marion MEDCO Enterprise Center, offering convenient access to Highways 13, 100, and 151. The space features optional retail or office space at the front, transitioning to warehouse space in the rear. It is equipped with two 14x14 drive-in overhead doors and one 9x10 dock door for shipping and receiving. The vanilla box warehouse includes a glass curtain wall entry, a 6-inch reinforced floor, radiant tube heating, and 200 amp electrical service. It also features three rows of LED high bay lights, a sprinkler system, a fire alarm, surveillanced exterior, and security lighting. Over 20 front parking spaces are available, along with rear exterior parking or equipment storage. Additional space is available, with options to increase the total area up to 29,250 square feet. Build-to-suit options are available for office, retail, or warehouse buildout. With an acceptable 3-year lease, the first 3 months are rent-free.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Linn
    State
    Iowa
    Longitude
    -91.5396617
    Latitude
    42.0286416

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    FAQs

    What type of property is this?
    Flex space - 9,750 SF warehouse with retail/office potential and free rent.
    Where is this flex space located?
    The property is located at 6407 Partners Ave, Unit 401 Marion, IA.
    What are key features of this property?
    This property features: - Free Rent: Enjoy the first 3 months rent-free with an acceptable 3-year lease.; - Strategic Location: Easy access to Hwy 13, 100, and 151 in the Marion MEDCO Enterprise Center.; - Flexible Space Options: 9,750 sqft end unit with optional retail/office space and warehouse space; expansion possible up to 29,250 sqft.
    (319) 423-9515
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    6407 Partners Ave, Unit 401 Marion, IA 52302
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    Marion, IA 52302
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    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
    6407 Partners Ave, Unit 401 Marion, IA 52302
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    Listing Contact
    Stefan Doerrfeld-Twenty Sales Team
    (319) 423-9515
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