All-Brick Office
New
For Sale
$399,950
888 10th St, Marion, IA 52302
The property combines private offices, shared meeting space, break facilities, and solar energy integration.
Property Size4,800 SF
Price / SF$83.32
Days on Market4
Property Features for 888 10th St
General Information
Standard status
Active
Size
4,800 SF
Occupancy
100%
Building Details
Year Built
1966
Construction
brick
Listing Agency:
RE/MAX CONCEPTS
(319) 395-0101
Listed By:
Scott Rosekrans-Rosekrans Stines Team
Source:
Kwlegacyrealty
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 9:38AM
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 RE/MAX CONCEPTS
Investment Insights
Based on property information with market context.
This 4,800-square-foot office building, constructed in 1966, has an all-brick exterior and abundant natural light. The interior includes multiple private offices, a conference room, two breakrooms, and restrooms on each level. Mechanical systems have been updated, and solar energy has been integrated into the property.
The building is fully occupied by long-term tenants, providing an established office configuration with existing occupancy. Located at 888 10th St in Marion, Iowa, the property offers a defined commercial setting for office use.
The building is fully occupied by long-term tenants, providing an established office configuration with existing occupancy. Located at 888 10th St in Marion, Iowa, the property offers a defined commercial setting for office use.
Key Highlights
- 4,800‑square‑foot office building constructed in 1966
- All‑brick building with abundant natural light
- Multiple private offices and a conference room
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
$22,922
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
5.73%
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%
$458,440
$458.4K
Cap Rate 7%
$327,457
$327.5K
Cap Rate 9%
$254,689
$254.7K
Market Conditions
NOI Build-Up for 4,800 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
$40.3K $8.40/SF
− Vacancy
−$9.8K −$2.03/SF
EGI
$30.6K $6.37/SF
− OpEx
−$7.6K −$1.59/SF
NOI
$22.9K $4.78/SF
Area
Linn County, IA
Vacancy
24.20%
Lease Rate
$8.40 /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%
$458,440
Cap Rate 7%
$327,457
Cap Rate 9%
$254,689
Alternative Uses
Best Use
Office B
$327.5K
$286.5K – $382.0K
NOI $22,922 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$807.8K
$706.9K – $942.5K
NOI $56,549 @ 7.0% cap · market cap 14.14%
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
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - The property combines private offices, shared meeting space, break facilities, and solar energy integration.
Where is this office building located?
The property is located at 888 10th St Marion, IA.
What is the asking price?
The asking price for this property is $399,950.
What are key features of this property?
This property features: 4,800‑square‑foot office building constructed in 1966; All‑brick building with abundant natural light; Multiple private offices and a conference room
