New Flex Space with Overhead
For Sale
$285,000
D-1255 Blairs Ferry Rd, Marion, IA 52302
Newly constructed flex space offers shop functionality, climate control, and restroom plumbing provisions.
Property Size2,400 SF
Price / SF$118.75
Days on Market469
Property Features for D-1255 Blairs Ferry Rd
General Information
Standard status
Active
Size
2,400 SF
Listing Agency:
GLD COMMERCIAL
(319) 731-3400
Listed By:
Erica Seelman · License #S64720000
(319) 731-3400
Source:
Exprealty
Added: May 19, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:50AM
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 commercial condominium unit at D-1255 Blairs Ferry Rd in Marion, IA provides 2,400 SF of newly constructed flex space. The unit includes a 14’x14’ overhead door, 17’ ceiling, separate man door, windows, LED lighting, shop heater, A/C, floor drain, and 200-amp electrical service. Plumbing is stubbed in for a restroom, and additional interior buildout is negotiable.
The property offers onsite parking and is subject to a condo association. Buyers may acquire the individual unit, combine suites for 4,800 SF, or purchase the entire 9,600 SF building, subject to availability. Anticipated completion is November 2025.
The property offers onsite parking and is subject to a condo association. Buyers may acquire the individual unit, combine suites for 4,800 SF, or purchase the entire 9,600 SF building, subject to availability. Anticipated completion is November 2025.
Key Highlights
- 2,400 SF commercial condo unit in a newly constructed 9,600 SF building
- 14’x14’ overhead door and 17’ ceiling
- 200‑amp electrical service with LED lighting
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
$14,157
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
4.97%
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%
$283,140
$283.1K
Cap Rate 7%
$202,243
$202.2K
Cap Rate 9%
$157,300
$157.3K
Market Conditions
NOI Build-Up for 2,400 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
$17.7K $7.36/SF
− Vacancy
−$1.0K −$0.42/SF
EGI
$16.7K $6.94/SF
− OpEx
−$2.5K −$1.04/SF
NOI
$14.2K $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%
$283,140
Cap Rate 7%
$202,243
Cap Rate 9%
$157,300
Alternative Uses
Best Use
Warehouse
$202.2K
$177.0K – $236.0K
NOI $14,157 @ 7.0% cap · market cap 4.97%
Second Best
Industrial
$166.6K
$145.7K – $194.3K
NOI $11,659 @ 7.0% cap · market cap 4.09%
Theoretical Best
Self Storage
$403.9K
$353.4K – $471.2K
NOI $28,274 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
655
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
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Frequently Asked Questions
What type of property is this?
Flex space - Newly constructed flex space offers shop functionality, climate control, and restroom plumbing provisions.
Where is this flex space located?
The property is located at D-1255 Blairs Ferry Rd Marion, IA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2,400 SF commercial condo unit in a newly constructed 9,600 SF building; 14’x14’ overhead door and 17’ ceiling; 200‑amp electrical service with LED lighting
