Fully Leased Industrial Flex
415 62nd St Marion, IA 52302
For Sale
Contact for pricing
Two-building industrial flex property with 12 small-bay units, fully leased, currently on gross leases.
Property Size19,592 SF
Price / SF$74.78
Days on Market51
Property Features for 415 62nd St
General Information
Standard status
Active
Size
19,592 SF
Property subtype
INDUSTRIAL
Listing Agency:
GLD Commercial
(319) 731-3435
Listed By:
Rachel Waters
Source:
Moodyscre
Added: Jun 9
Changed: Jul 10
Last Checked: Jul 21 at 5:18AM
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 fully leased industrial flex property is comprised of two buildings on a single parcel and contains 12 individual units. Unit sizes range from approximately 466 SF to about 2,850 SF, creating a mix of smaller-bay configurations suited to a variety of light industrial and flex users. The property is presented as a multi-tenant setup with existing lease coverage.
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.
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.
Key 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
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 |
19,592 SF · lease $7.36/SF/yr · vacancy 5.71% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.65M
$1.44M – $1.93M
NOI $115,569 @ 7.0% cap · market cap 7.89%
Second Best
Industrial
$1.36M
$1.19M – $1.59M
NOI $95,174 @ 7.0% cap · market cap 6.50%
Theoretical Best
Self Storage
$3.30M
$2.89M – $3.85M
NOI $230,813 @ 7.0% cap · market cap 15.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Two-building industrial flex property with 12 small-bay units, fully leased, currently on gross leases.
Where is this flex space located?
The property is located at 415 62nd St Marion, IA.
What is the asking price?
The asking price for this property is $1,465,000.
What are key features of this property?
This property features: 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
