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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Strip malls
115 Marion Blvd Marion, IA 52302-3135
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0261276
Property summary
AI-generated overview
This exceptional retail and office opportunity is located within the established Indian Creek Shopping Mall in Marion, Iowa. The single-story, 31,134 square foot building, constructed in 1979, sits on a 2.46-acre lot and is zoned for Community Business use. Currently, 5,367 square feet of space is available for lease, with individual suites ranging from a minimum of 983 square feet to a maximum contiguous space of 2,111 square feet. The property features multiple tenancies, offering flexibility for various business needs. Its strategic location at 115 Marion Blvd, at the gateway to Marion along 7th Ave/Marion Blvd, provides excellent visibility and accessibility. The property benefits from high traffic counts, exceeding 22,000 vehicles daily according to the Iowa Department of Transportation (IDOT), and is conveniently situated near Uptown Marion. The property's APN is 14012-07001-00000. This presents a unique chance to establish a presence in a thriving commercial area. The building's single-story design offers convenient access and ample parking. This is an ideal location for businesses seeking high visibility and convenient access to a bustling community.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1979
Total area
31,134 SF
Lot
2.46 ac (107,158 SF)
APN
14-01-2-07-001-0-0000
UPID
US25-0261276
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$495k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$643k
Blend (final)
Blend
$565k
Owner & transaction history
John Khairallah · 4 yrs held
John Khairallah
since 2022
Last sale
$625,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Marion submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Marion submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$450,000
ML approach
$495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$565k
Range $509k – $622k · ±10% · vs last sale $625k (Mar 15 2022)
Last sale anchor
$625k
Mar 15 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$18 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$62,738
Tax year 2022
Assessed value
$1,177,500
Assessed 2023
Previous assessed
$1,770,900
-33.5% YoY
Effective rate
5.33%
On assessed value
Assessed land
$869,700
Assessed improvement
$307,800
Land market value
$869,700
Improvement market value
$307,800
Total market value
$1,177,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1979
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Bathrooms
12
Total area
31,134 SF
Lot
2.46 ac (107,158 SF)
APN
14-01-2-07-001-0-0000
UPID
US25-0261276
Jurisdiction
LINN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1979
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
12
Lot
2.46 ac
Current owner
From public records · entity-resolved
John Khairallah
Individual
Mailing address
4847 OAK GRV CT NE, CEDAR RAPIDS, IA 52411-6789
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2023
—
John Khairallah
—
Deed
related
$25,000 · Anace Aossey Etal
Mar 15, 2022
$625,000
John Khairallah
Rcp Group LLC
Warranty Deed
—
—
—
Rcp Group LLC
—
Deed Of Trust
related
$373,000 · Collins Community Cu
—
—
Rcp Group LLC
—
Deed Of Trust
related
$100,000 · Collins Community Cu
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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