Leased Restaurant Condo
796 11th St Marion, IA 52302
For Sale
Contact for pricing
Fully leased first-floor restaurant space with a catering-size kitchen and recent renovation, sold with an in-place tenant lease.
Property Size4,813 SF
Price / SF$150.63
Days on Market93
Property Features for 796 11th St
General Information
Standard status
Active
Size
4,813 SF
Property subtype
RETAIL
Listing Agency:
GLD Commercial
(319) 731-3409
Listed By:
Angie Glick
Source:
Moodyscre
Added: Apr 28
Changed: Jul 28
Last Checked: Jul 28 at 7:18AM
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 commercial condo unit includes the first-floor restaurant space, which was recently renovated. The space is built for high-volume food service with a full catering-size kitchen.
BarTini’s operates under a 5-year lease that commenced October 1, 2025, providing current income at the time of sale. Tax abatement is in place through 2030.
The offering is presented for sale as a turn-key, occupied restaurant condo unit with both the premises and lease arrangement included in the transaction.
BarTini’s operates under a 5-year lease that commenced October 1, 2025, providing current income at the time of sale. Tax abatement is in place through 2030.
The offering is presented for sale as a turn-key, occupied restaurant condo unit with both the premises and lease arrangement included in the transaction.
Key Highlights
- Fully leased first‑floor restaurant space in the heart of Uptown Marion, now available for sale
- Recently renovated restaurant space includes a full catering‑size kitchen
- Sale includes an in‑place tenant lease with BarTini’s under a 5‑year term commencing October 1, 2025
Financial Insights For Specialty Retail
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 | $70.5k | $14.64 |
| − Vacancy | −$5.4k | −$1.13 |
| EGI | $65.0k | $13.51 |
| − OpEx | −$16.3k | −$3.38 |
| NOI | $48.8k | $10.13 |
4,813 SF · lease $14.64/SF/yr · vacancy 7.73% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$696.6K
$609.5K – $812.7K
NOI $48,762 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$810.0K
$708.8K – $945.0K
NOI $56,702 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully leased first-floor restaurant space with a catering-size kitchen and recent renovation, sold with an in-place tenant lease.
Where is this conventional restaurant located?
The property is located at 796 11th St Marion, IA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Fully leased first‑floor restaurant space in the heart of Uptown Marion, now available for sale; Recently renovated restaurant space includes a full catering‑size kitchen; Sale includes an in‑place tenant lease with BarTini’s under a 5‑year term commencing October 1, 2025
