Industrial Campus with Multiple
For Sale
$3,250,000
200 35th Street, Marion, IA 52302
Industrial campus on seven parcels with six buildings totaling 43,330 SF and about 3.8 acres of outdoor storage/laydown yard.
Property Size43,330 SF
Days on Market23
Property Features for 200 35th Street
General Information
Standard status
Active
Size
43,330 SF
Property subtype
Industrial - Manufacturing
Building Details
Building Size
43,330 SF
Units
5
Listing Agency:
GLD Commercial
(319) 731-3400
Listed By:
Michael Gibbs
Source:
Commercialcafe
Added: Jul 20
Changed: Aug 8
Last Checked: Aug 11 at 4:06PM
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 GLD Commercial
Investment Insights
Based on property information with market context.
This industrial campus consists of six commercial buildings totaling approximately 43,330 SF, situated across seven parcels with approximately 3.8 acres of outdoor storage/laydown yard. The improvements include an 8,700 SF two-story office building with private offices, a reception area, conference room, training room, and multiple restrooms. Other facilities include a 5,720 SF retail/distribution warehouse with showroom space, a 2,160 SF maintenance shop with drive-through capability, a 7,200 SF cold storage warehouse, a 15,800 SF manufacturing facility, and a 3,750 SF standalone paint booth.
The property also features an on-site fueling station configured for gasoline or diesel distribution. Access directions are provided for locating the site from Highway 151 into Marion and turning south on 35th St, with the property on the west side of the road. The parcel list includes 15052-52014-00000, 15052-52013-00000, 15052-52015-00000, 15052-52004-00000, 15052-52012-00000, 15052-52010-00000, and 15053-26008-00000.
The property also features an on-site fueling station configured for gasoline or diesel distribution. Access directions are provided for locating the site from Highway 151 into Marion and turning south on 35th St, with the property on the west side of the road. The parcel list includes 15052-52014-00000, 15052-52013-00000, 15052-52015-00000, 15052-52004-00000, 15052-52012-00000, 15052-52010-00000, and 15053-26008-00000.
Key Highlights
- Industrial campus at 200 35th Street, Marion, Iowa on approx. 11.69 acres across seven parcels.
- Six commercial buildings totaling approx. 43,330 SF, including a 15,800 SF manufacturing facility.
- 8,700 SF two‑story office building with private offices, reception, conference room, training room, and multiple restrooms.
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
$255,594
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
7.86%
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%
$5,111,880
$5.1M
Cap Rate 7%
$3,651,343
$3.7M
Cap Rate 9%
$2,839,933
$2.8M
Market Conditions
NOI Build-Up for 43,330 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
$318.9K $7.36/SF
− Vacancy
−$18.2K −$0.42/SF
EGI
$300.7K $6.94/SF
− OpEx
−$45.1K −$1.04/SF
NOI
$255.6K $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%
$5,111,880
Cap Rate 7%
$3,651,343
Cap Rate 9%
$2,839,933
Alternative Uses
Best Use
Warehouse
$3.65M
$3.19M – $4.26M
NOI $255,594 @ 7.0% cap · market cap 7.86%
Second Best
Industrial
$3.01M
$2.63M – $3.51M
NOI $210,489 @ 7.0% cap · market cap 6.48%
Theoretical Best
Self Storage
$7.29M
$6.38M – $8.51M
NOI $510,471 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
43
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial campus on seven parcels with six buildings totaling 43,330 SF and about 3.8 acres of outdoor storage/laydown yard.
Where is this manufacturing property located?
The property is located at 200 35th Street Marion, IA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Industrial campus at 200 35th Street, Marion, Iowa on approx. 11.69 acres across seven parcels.; Six commercial buildings totaling approx. 43,330 SF, including a 15,800 SF manufacturing facility.; 8,700 SF two‑story office building with private offices, reception, conference room, training room, and multiple restrooms.
