Leased Restaurant Condo with
For Sale
$795,000
796 11th Street A, Marion, IA 52302
Fully leased restaurant condo includes recently renovated catering-size kitchen and a multi-parcel setup with garage and basement.
Property Size4,813 SF
Price / SF$165.18
Days on Market138
Property Features for 796 11th Street A
General Information
Standard status
Active
Size
4,813 SF
Property subtype
Commercial
Zoning
U-1
Occupancy
100%
Amenities
Concrete,Wood
Yes
4
Display Window(s)
Storage
Building
Public
Sprinkler/Irrigation
Building Details
Year Built
1901
Stories
4
Listing Agency:
Keller Williams Legacy Group-Manchester
(319) 329-0619
Listed By:
Sara Kruse
(319) 329-0619
Source:
Pinnaclerealtyia
Added: Apr 8
Changed: Aug 23
Last Checked: Jul 23 at 3:32AM
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 Keller Williams Legacy Group-Manchester
Investment Insights
Based on property information with market context.
This fully leased commercial condo unit is available for sale and includes three separate parcels: first-floor restaurant space, a garage, and a basement. The restaurant space was recently renovated and features a full catering-size kitchen.
The property is located in the heart of Uptown Marion at 796 11th St, Marion, IA 52302. The current tenant, BarTini’s, is under a 5-year lease that commenced October 1, 2025.
The transaction is offered with tax abatement in place through 2030. Contact the listing agent for additional details regarding the offering.
The property is located in the heart of Uptown Marion at 796 11th St, Marion, IA 52302. The current tenant, BarTini’s, is under a 5-year lease that commenced October 1, 2025.
The transaction is offered with tax abatement in place through 2030. Contact the listing agent for additional details regarding the offering.
Key Highlights
- Fully leased commercial condo unit in the heart of Uptown Marion, with tenant BarTini’s
- Sale includes three parcels: first‑floor restaurant space, garage, and basement
- Restaurant space was recently renovated and includes a full catering‑size kitchen
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
$48,762
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
6.13%
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%
$975,240
$975.2K
Cap Rate 7%
$696,600
$696.6K
Cap Rate 9%
$541,800
$541.8K
Market Conditions
NOI Build-Up for 4,813 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
$70.5K $14.64/SF
− Vacancy
−$5.4K −$1.13/SF
EGI
$65.0K $13.51/SF
− OpEx
−$16.3K −$3.38/SF
NOI
$48.8K $10.13/SF
Area
Linn County, IA
Vacancy
7.73%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
25.00%
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%
$975,240
Cap Rate 7%
$696,600
Cap Rate 9%
$541,800
Alternative Uses
Best Use
Specialty Retail
$696.6K
$609.5K – $812.7K
NOI $48,762 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$810.0K
$708.8K – $945.0K
NOI $56,702 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
711
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully leased restaurant condo includes recently renovated catering-size kitchen and a multi-parcel setup with garage and basement.
Where is this conventional restaurant located?
The property is located at 796 11th Street A Marion, IA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Fully leased commercial condo unit in the heart of Uptown Marion, with tenant BarTini’s; Sale includes three parcels: first‑floor restaurant space, garage, and basement; Restaurant space was recently renovated and includes a full catering‑size kitchen
