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 Market291
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, Rick Povey
(319) 389-0008
Listed By:
SoldBy JZ
(319) 389-0008
Source:
Cbhrealty
Added: Nov 11, 2025
Changed: Aug 28
Last Checked: Aug 29 at 11:17AM
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, Rick Povey
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 = 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
$19,129
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
8.50%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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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
