Flex Space with Overhead
For Sale
$875,000
710 49th St, Marion, IA 52302
I-2-zoned commercial building combines warehouse, conditioned office, and shop areas with on-site parking.
Property Size11,520 SF
Price / SF$75.95
Days on Market179
Property Features for 710 49th St
General Information
Standard status
Active
Size
11,520 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,072
Listing Agency:
GLD COMMERCIAL
(319) 731-3400
Listed By:
Erica Seelman
(319) 731-3400
Source:
Exprealty
Added: Mar 4
Changed: Aug 30
Last Checked: Jul 18 at 9:15AM
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 11,520-square-foot flex property, constructed in 1987, combines warehouse and office functionality within an I-2-zoned building. The warehouse areas have been newly painted, while the conditioned office component includes a restroom and break room. Radiant heat serves the shop space, and five overhead doors range from 10 to 12 feet in height.
The property is located at 710 49th St in Marion, with access to Hwy 151, Hwy 13, and Hwy 100. On-site parking is provided. Three short-term leases are currently in place. Unit 1 is available for lease and includes 4,200 square feet, two 12-foot overhead doors, office space, a restroom, and radiant heat.
The property is located at 710 49th St in Marion, with access to Hwy 151, Hwy 13, and Hwy 100. On-site parking is provided. Three short-term leases are currently in place. Unit 1 is available for lease and includes 4,200 square feet, two 12-foot overhead doors, office space, a restroom, and radiant heat.
Key Highlights
- 11,520 SF flex building on 710 49th St in Marion
- I‑2 zoning with warehouse, office, and shop areas
- Five overhead doors ranging from 10’-12’ tall
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
$67,954
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
7.77%
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%
$1,359,080
$1.4M
Cap Rate 7%
$970,771
$970.8K
Cap Rate 9%
$755,044
$755.0K
Market Conditions
NOI Build-Up for 11,520 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
$84.8K $7.36/SF
− Vacancy
−$4.8K −$0.42/SF
EGI
$79.9K $6.94/SF
− OpEx
−$12.0K −$1.04/SF
NOI
$68.0K $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%
$1,359,080
Cap Rate 7%
$970,771
Cap Rate 9%
$755,044
Alternative Uses
Best Use
Warehouse
$970.8K
$849.4K – $1.13M
NOI $67,954 @ 7.0% cap · market cap 7.77%
Second Best
Industrial
$799.5K
$699.5K – $932.7K
NOI $55,962 @ 7.0% cap · market cap 6.40%
Theoretical Best
Self Storage
$1.94M
$1.70M – $2.26M
NOI $135,717 @ 7.0% cap · market cap 15.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
Under-served
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Hy-Vee Catering — 3600 US-151, Marion, IA 52302
Frequently Asked Questions
What type of property is this?
Flex space - I-2-zoned commercial building combines warehouse, conditioned office, and shop areas with on-site parking.
Where is this flex space located?
The property is located at 710 49th St Marion, IA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 11,520 SF flex building on 710 49th St in Marion; I‑2 zoning with warehouse, office, and shop areas; Five overhead doors ranging from 10’-12’ tall
