Current Use by Public Records
- Investment properties
Property Details for 501 7Th Ave
- Year built
- 1999
- Property type
- Investment properties
Description
This exceptional investment opportunity presents a thriving Anytime Fitness franchise located at 501 7th Avenue in Marion, IA. The property boasts a recently completed $50,000 interior refresh, ensuring a modern and attractive facility for the tenant. A 6-year lease is in place with 3.5 years remaining, featuring built-in rent increases, providing consistent and growing income. The tenant is responsible for property taxes, while the landlord covers building maintenance and insurance, minimizing operational burdens. The building itself is in excellent condition, having undergone a comprehensive interior and exterior renovation and addition in 2017. This included the installation of a new HVAC system. Further enhancing the property's value are a new roof (2020) and a newly paved parking lot (2022). The property enjoys a highly visible location with significant traffic flow, ensuring strong tenant visibility and accessibility. This turnkey investment offers a compelling combination of a stable, high-performing tenant, a well-maintained building, and a prime location, making it an ideal addition to any portfolio. The asking price is $1,099,000. The property sits on a 0-acre lot. This is a rare opportunity to acquire a strong-performing investment property with significant upside potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Linn
- State
- Iowa
- Longitude
- -91.6049
- Latitude
- 42.033
