Renovated Restaurant
For Sale
$725,000
A-796 11th St, Marion, IA 52302
Fully leased first-floor space includes a catering-size kitchen and an active five-year lease.
Property Size4,813 SF
Price / SF$150.63
Days on Market144
Property Features for A-796 11th St
General Information
Standard status
Active
Size
4,813 SF
Occupancy
100%
Additional Details
Floor
1
Listing Agency:
GLD COMMERCIAL
(319) 821-0028
Listed By:
Angie Glick
(319) 821-0028
Source:
Exprealty
Added: Apr 8
Changed: Aug 29
Last Checked: Aug 29 at 3:23PM
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 4,813-square-foot commercial condominium comprises a first-floor restaurant space that underwent recent renovation. The premises include a full catering-size kitchen and are occupied by BarTini’s under a five-year lease that began October 1, 2025.
Located in Uptown Marion at A-796 11th St, the property includes a tax abatement in place through 2030. The offering combines an operating restaurant space with an existing tenant and defined lease term.
Located in Uptown Marion at A-796 11th St, the property includes a tax abatement in place through 2030. The offering combines an operating restaurant space with an existing tenant and defined lease term.
Key Highlights
- 4,813‑square‑foot commercial condominium
- Recently renovated first‑floor restaurant space
- 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
6.73%
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%
$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 6.73%
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
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
734
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 first-floor space includes a catering-size kitchen and an active five-year lease.
Where is this conventional restaurant located?
The property is located at A-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: 4,813‑square‑foot commercial condominium; Recently renovated first‑floor restaurant space; Full catering‑size kitchen
