Flex and Storage
For Sale
Contact for pricing
6900 Partners Ave, Marion, IA 52302
Two-building flex and climate-controlled storage site with ground-level overhead doors and expansion-ready insulated metal construction.
Property Size47,200 SF
Lot Size8.80 Acres
Price / SF$81.57
Days on Market615
Property Features for 6900 Partners Ave
General Information
Standard status
Active
Size
47,200 SF
Lot size
8.80 Acres
Property subtype
INDUSTRIAL
Additional Details
Drive-In Doors
24
Listing Agency:
GLD Commercial
(319) 731-3415
Listed By:
Adam Gibbs · License #B43857000
Source:
Moodyscre
Added: Dec 4, 2024
Changed: Jul 28
Last Checked: Jul 28 at 5:28AM
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.
The property includes two buildings on a shared site. Building 1 is a climate-controlled storage facility with 20 ground-level overhead doors, constructed with 3-inch insulated metal panels. The south wall is designed to allow expansion of the existing building to almost 65,000 SF, and the site includes 8.8 acres of land supporting alternative uses and expansion. The property is structured for potential growth, with a site plan designed to accommodate four 12,000 SF flex buildings.
Building 2 is a 12,000 SF wood-frame flex building built in 2023, with 4 ground-level overhead doors. Both buildings share a parking lot, and ownership is open to selling as a package or leasing each building with various suite sizes available.
Configuration-wise, the current improvements provide dedicated overhead-door access for warehouse and flex operations, with future expansion and additional flex building development contemplated by the existing site plan.
Building 2 is a 12,000 SF wood-frame flex building built in 2023, with 4 ground-level overhead doors. Both buildings share a parking lot, and ownership is open to selling as a package or leasing each building with various suite sizes available.
Configuration-wise, the current improvements provide dedicated overhead-door access for warehouse and flex operations, with future expansion and additional flex building development contemplated by the existing site plan.
Key Highlights
- Two‑building property with 35,200 SF climate‑controlled storage plus a 12,000 SF flex building on an 8.8 AC lot
- Building 1: 35,200 SF insulated metal‑panel construction with 20 ground‑level overhead doors; designed to allow expansion to almost 65,000 SF
- Building 1 conversion potential to conventional commercial/industrial use (buyer could convert from current storage layout)
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
$278,423
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
7.23%
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%
$5,568,460
$5.6M
Cap Rate 7%
$3,977,471
$4.0M
Cap Rate 9%
$3,093,589
$3.1M
Market Conditions
NOI Build-Up for 47,200 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
$347.4K $7.36/SF
− Vacancy
−$19.8K −$0.42/SF
EGI
$327.6K $6.94/SF
− OpEx
−$49.1K −$1.04/SF
NOI
$278.4K $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%
$5,568,460
Cap Rate 7%
$3,977,471
Cap Rate 9%
$3,093,589
Alternative Uses
Best Use
Warehouse
$3.98M
$3.48M – $4.64M
NOI $278,423 @ 7.0% cap · market cap 7.23%
Second Best
Industrial
$3.28M
$2.87M – $3.82M
NOI $229,289 @ 7.0% cap · market cap 5.96%
Theoretical Best
Self Storage
$7.94M
$6.95M – $9.27M
NOI $556,063 @ 7.0% cap · market cap 14.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24
Drive-in doors
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Balanced
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
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Frequently Asked Questions
What type of property is this?
Flex space - Two-building flex and climate-controlled storage site with ground-level overhead doors and expansion-ready insulated metal construction.
Where is this flex space located?
The property is located at 6900 Partners Ave Marion, IA.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: Two‑building property with 35,200 SF climate‑controlled storage plus a 12,000 SF flex building on an 8.8 AC lot; Building 1: 35,200 SF insulated metal‑panel construction with 20 ground‑level overhead doors; designed to allow expansion to almost 65,000 SF; Building 1 conversion potential to conventional commercial/industrial use (buyer could convert from current storage layout)
