Remodeled Mixed-Use
For Sale
$225,000
448 7TH Avenue, Marion, IA 52302
Two-story property combines commercial space with an updated apartment and private entry.
Property Size2,023 SF
Price / SF$111.22
Days on Market302
Property Features for 448 7TH Avenue
General Information
Standard status
Active
Size
2,023 SF
Property subtype
Commercial
Lease Term
[]
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
1
Amenities
handicap-accessible features
off-street rear parking lot
washer/dryer hookups
owned water softener
dehumidifier
clean dry basement
storage area
upstairs apartment
Building Details
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
Realty87, Jim Angstman
Listed By:
SoldBy JZ
(319) 389-0008
Source:
Cbhrealty
Added: Dec 15, 2025
Changed: Oct 13
Last Checked: Oct 12 at 8:06PM
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 Realty87, Jim Angstman
Investment Insights
Based on property information with market context.
This fully remodeled two-story mixed-use property combines commercial space on the main floor with an updated apartment above. The first level offers flexible walls for layout customization, two bathrooms, handicap-accessible features, washer and dryer hookups, and updated electrical service. Additional utility features include an owned water softener, dehumidifier, and a storage area with a floor drain plus hot and cold water. A clean, dry basement provides additional space.
The property includes 2,023 square feet and was built in 1900. Located at 448 7th Ave in Marion, it sits at the entrance to historic Uptown Marion with visibility along a high-traffic route. The rear off-street parking lot supports convenient access, while the upstairs apartment has its own private entrance and offers residential income potential.
The property includes 2,023 square feet and was built in 1900. Located at 448 7th Ave in Marion, it sits at the entrance to historic Uptown Marion with visibility along a high-traffic route. The rear off-street parking lot supports convenient access, while the upstairs apartment has its own private entrance and offers residential income potential.
Key Highlights
- 2,023‑square‑foot mixed‑use property built in 1900
- Fully remodeled two‑story building with updated electrical service
- Main‑floor commercial space with flexible walls and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,129
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,580
$382.6K
Cap Rate 7%
$273,271
$273.3K
Cap Rate 9%
$212,544
$212.5K
Market Conditions
NOI Build-Up for 2,023 SF
Gross rent
$29.6K $14.64/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$27.3K $13.51/SF
− OpEx
−$8.2K −$4.05/SF
NOI
$19.1K $9.46/SF
Area
Linn County, IA
Vacancy
7.73%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,580
Cap Rate 7%
$273,271
Cap Rate 9%
$212,544
Alternative Uses
Best Use
Retail
$273.3K
$239.1K – $318.8K
NOI $19,129 @ 7.0% cap · market cap 8.50%
Second Best
Mixed Use
$255.8K
$223.9K – $298.5K
NOI $17,909 @ 7.0% cap · market cap 7.96%
Theoretical Best
Self Storage
$340.5K
$297.9K – $397.2K
NOI $23,833 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
709
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
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story property combines commercial space with an updated apartment and private entry.
Where is this mixed-use property located?
The property is located at 448 7TH Avenue Marion, IA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 2,023‑square‑foot mixed‑use property built in 1900; Fully remodeled two‑story building with updated electrical service; Main‑floor commercial space with flexible walls and two bathrooms
