Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    660 51st St Marion, IA 52302-3805

    • Warehouses
    • 2,160 SF
    • 0.60 lot acres
    OFF-MARKET
    Last Sale
    Dec 19, 2023
    Value Estimations
    $195,000
    Show details
    Cap Rate Potential
    5.4%
    Warehouses
    Location Intelligence
    Property ID
    US25-0275547
    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

    • Warehouses

    Property Details for 660 51st St

    Year built
    1994
    Lot size
    0.60 lot acres
    Property size
    2,160 SF
    Property type
    Warehouses
    APN
    15-04-2-29-017-0-0000
    APU
    150422901700000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $210,000
      6.5%
      $195,000
      7%
      $180,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $144,000
      Market price range: $62.8k - $186k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $230,000
      NEIGHBORHOOD: SHOPPING CENTER
      $220,000
      MEDICAL BUILDING
      $215,000
      RETAIL STORES
      $175,000
      OFFICE BUILDING
      $170,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Linn
    State
    Iowa
    Longitude
    -91.5565
    Latitude
    42.0315
    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
    2023
    $4,918
    $77,600
    $92,500
    $170,100
    -
    $77,600
    $92,500
    $170,100

    Comparable in this City

    • Value Estimation
      $340,000
      15,895 SF

      1888 County Home Rd

      WAREHOUSE, STORAGE • 15,895 SF
      1888 County Home Rd, Marion, IA 52302-9753
      View Details
    • Value Estimation
      $460,000
      9,100 SF

      6240 Partners Ave

      WAREHOUSE, STORAGE • 9,100 SF
      6240 Partners Ave, Marion, IA 52302-5055
      View Details
    • Value Estimation
      $255,000
      1,440 SF

      1790 14th St

      WAREHOUSE, STORAGE • 1,440 SF
      1790 14th St, Marion, IA 52302-2201
      View Details
    • Value Estimation
      $305,000
      1,950 SF

      400 35th St

      MINI-WAREHOUSE, STORAGE • 1,950 SF
      400 35th St, Marion, IA 52302-3816
      View Details
    • Value Estimation
      $290,000
      10,000 SF

      4150 3rd Ave

      MINI-WAREHOUSE, STORAGE • 10,000 SF
      4150 3rd Ave, Marion, IA 52302-3875
      View Details
    • Value Estimation
      $255,000
      1,200 SF

      2490 5th Ave

      WAREHOUSE, STORAGE • 1,200 SF
      2490 5th Ave, Marion, IA 52302-4331
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,300 SF

      Marion Industrial/Warehouse Space For Sale

      Industrial/warehouse space suitable for contractors, warehouse, and retail.
      324 44Th St, Marion, IA 52302
      View Details
    • $4,350,000
      47,200 SF

      6900 Partners Ave

      Self storage facilities • 47,200 SF
      6900 Partners Ave, Marion, IA 52302
      View Details
    • Contact for pricing
      9,300 SF

      Marion Industrial/Warehouse Space Available

      Newer industrial/warehouse building suitable for contractors and retail.
      324 44Th St, Marion, IA 52302
      View Details
    • $1,995,000
      15,000 SF

      Marion Warehouse/Showroom Opportunity

      Stand-alone building with office and warehouse space in growing area.
      6200 N Gateway Dr, Marion, IA 52302
      View Details
    • $1,829,520
      3.00 Acres

      Marion, IA Commercial Land - 3 Acres

      Prime 3-acre commercial lot, ready to build.
      6 Tower Terrace Rd, Marion, IA 52302
      View Details
    • $2,188,890
      6.70 Acres

      Prime Marion, IA Commercial Land

      6.7 Acres, Shovel-Ready, C-3 Zoning
      2 Tower Terrace Rd, Marion, IA 52302
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      47,200 SF

      Marion, IA Industrial Property

      Flex & Warehouse Space Available
      6900 Partners Ave, Marion, IA 52302
      View Details
    • $2,200 /Mo
      2,080 SF

      Industrial Building with Storage Yard

      Industrial building with storage yard available for lease.
      2706 5Th Ave, Marion, IA 52302
      View Details
    • $6 SF/Yr
      7,336 SF

      Marion, IA Industrial Flex Space

      7,336 SF Flex/Warehouse - Available Now
      1070 Lyon Ln, Marion, IA 52302
      View Details
    • $6 SF/Yr
      7,336 SF

      Marion Flex Space Available

      Flex space with office and warehouse components for rent.
      1070 Lyon Ln, Marion, IA 52302
      View Details
    • $9 SF/Yr
      704 SF

      Marion Warehouse Space for Lease

      Warehouse units with overhead doors, convenient location near highways.
      415 62Nd St, Marion, IA 52302
      View Details
    • $9 SF/Yr
      1,712 SF

      Marion Warehouse Space For Rent

      Warehouse space with office, conference room, and utilities included.
      1040 E Post Rd, Marion, IA 52302
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    660 51st St
    Marion, IA 52302-3805
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.