415 62nd St, Marion, IA 52302
Two-building industrial flex property with 12 small-bay units, fully leased, currently on gross leases.
- Added:
- Jun 9, 2026
- Days on Market:
- 6
- Last Refresh:
- Jun 13 at 1:57 am
Property Features for 415 62nd St
General Information
- Standard status
- Active
- Size
- 19,592 SF
- Property subtype
- INDUSTRIAL
Listing agent Rachel Waters
Listing office GLD Commercial (319) 731-3400
Listing date Jun 9, 2026
Source Moodyscre
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
HighLights
- Fully leased Marion industrial property with two buildings on a single parcel
- 12‑unit layout of small‑bay industrial/flex spaces totaling approximately 466 SF to 2,850 SF per unit
- Strong historical occupancy with consistent in‑place income reported
- Current leases are on a gross basis, with potential to transition leases to NNN for expense recovery
- Additional upside noted through modest improvements and rent adjustments
Overview
The buildings are located at 415 62nd St in Marion, Iowa. According to the remarks, leases are currently structured on a gross basis. A Confidentiality Agreement is required to view the Offering Memorandum; please contact the listing broker for access.
For buyers, the current configuration offers in-place income through an occupied, multi-unit portfolio. Because the leases are reported as gross, the property may be evaluated for potential operating-structure changes, including the possibility of transitioning to NNN. The property is also noted as having room for value through modest improvements and rent adjustments, subject to underwriting and lease details.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $144.2k | $7.36 |
| − Vacancy | −$8.2k | −$0.42 |
| EGI | $136.0k | $6.94 |
| − OpEx | −$20.4k | −$1.04 |
| NOI | $115.6k | $5.90 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Linn
- State
- Iowa
- Longitude
- -91.5448472
- Latitude
- 42.0287833
