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    Property profile & analytics

    1155 Grand Ave Marion, IA 52302

    • Strip malls
    • 19,533 SF
    • 3.44 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Jun 13, 2024
    $770,000
    Value Estimations
    $820,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-1384622
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Strip malls

    Property Details for 1155 Grand Ave

    Year built
    1966
    Lot size
    3.44 lot acres
    Property size
    19,533 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    15-07-2-26-003-0-0000
    APU
    150722600300000

    Description

    This exceptional commercial property, located at 1155-1199 Grand Avenue in Marion, Iowa, offers a prime opportunity for businesses seeking flexible office space. The single-story building, constructed in 1966, encompasses 19,533 square feet and sits on a generous 3.44-acre lot. Currently, 1,720 square feet of office space is available, divisible into units ranging from a minimum of 600 square feet to a maximum contiguous space of 1,120 square feet. The property is zoned BC, Community Business, and features abundant on-site parking. Benefit from excellent visibility and high traffic counts, with an average daily traffic volume of 11,000 vehicles, as reported by the Iowa Department of Transportation. The lease is a modified gross rate, with tenants responsible for utilities and internet. This location provides easy access for employees and clients alike, making it an ideal choice for a variety of businesses. The property's APN is 150722600300000. This is a rare opportunity to secure well-located, adaptable office space in a thriving community. Inquire today to learn more about lease terms and available suite configurations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $770,000
      ML approach
      $770,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $965,000
      Market price range: $770k - $2.89M
      AI Estimate
      $543,000
      Market price range: $403k - $1.67M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Linn
    State
    Iowa
    Longitude
    -91.5975
    Latitude
    42.0199
    CBSA code
    16300
    CBSA name
    CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $26,788
    $618,800
    $475,700
    $1,094,500
    -
    $618,800
    $475,700
    $1,094,500

    Comparable in this City

    • Value Estimation
      $690,000
      159,987 SF

      1392 Twixt Town Rd

      SHOPPING CENTER, STRIP CENTER • 159,987 SF
      1392 Twixt Town Rd, Marion, IA 52302-3079
      View Details
    • Value Estimation
      $370,000
      5,000 SF

      505 7th Ave

      SHOPPING CENTER, STRIP CENTER • 5,000 SF
      505 7th Ave, Marion, IA 52302
      View Details
    • Value Estimation
      $350,000
      2,551 SF

      3350 7th Ave, Unit 110

      SHOPPING CENTER, STRIP CENTER • 2,551 SF
      3350 7th Ave, Marion, IA 52302-3760
      View Details
    • Value Estimation by Request
      7,598 SF

      500 Marion Blvd

      SHOPPING CENTER, STRIP CENTER • 7,598 SF
      500 Marion Blvd, Marion, IA 52302-3123
      View Details
    • Value Estimation
      $1,040,000
      6,000 SF

      905 29th Ave

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      905 29th Ave, Marion, IA 52302-1123
      View Details
    • Value Estimation
      $530,000
      28,800 SF

      999 44th St

      SHOPPING CENTER, STRIP CENTER • 28,800 SF
      999 44th St, Marion, IA 52302-3846
      View Details

    Similar Nearby for Sale

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      Prime Marion Retail Space

      High-traffic location, excellent visibility. Great investment opportunity.
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      Downtown Marion Mixed-Use Opportunity

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    Similar Nearby for Lease

    • $12 SF/Yr
      800 SF

      Retail Space Near Collins Road

      Retail property with high visibility and strong co-tenancy.
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      View Details
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      Marion Executive Office Space

      Prime Marion location, multiple suites available
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      View Details
    • $14 SF/Yr

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      Retail space available in Marion, Iowa, on Collins Road.
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      View Details
    • $12 SF/Yr
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      Cemar Centre Office Space

      Prime Marion, IA Office Building
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    • $12 SF/Yr
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      Grand Avenue Office Space

      Marion, IA Office Suites Available
      1155 Grand Ave, Marion, IA 52302
      View Details
    • $76,205
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      Restaurant with Drive-Thru in Marion

      Remodeled restaurant with drive-thru, ideal for food-grade operator.
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      View Details
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    Marion, IA 52302
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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