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    Property profile & analytics

    990 Grand Ave Marion, IA 52302

    • Commercial real estate
    OFF-MARKET
    Value Estimation
    Location Intelligence
    Property ID
    US25-2305893
    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

    • Commercial real estate

    Property Details for 990 Grand Ave

    Year built
    1976
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents an eight-unit apartment building located at 990 Grand Ave, Marion, IA 52302. The property boasts a total net rentable area of 3,776 square feet, situated on a sizable 10,550 square foot lot. Constructed in 1976, this two-story building is currently 100% occupied, generating a substantial net operating income (NOI) of $25,970, representing a compelling 7.32% capitalization rate. The asking price is $355,000, translating to an attractive price per unit of $44,375. Each of the eight studio units is currently leased. Tenants are responsible for their own heat and electricity, while the landlord covers common area lights, water, and hot water. The property is in excellent condition, both inside and out, having undergone recent upgrades. Detailed financial statements and rent rolls are available upon request to qualified buyers. This is a turnkey investment ready to generate immediate income. The property's strong occupancy rate, positive cash flow, and desirable location in Linn County make it an ideal addition to any investment portfolio.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Marion
    County
    Linn
    State
    Iowa
    Longitude
    -91.599205
    Latitude
    42.0208715

    Comparable in this City

    • $1,100,000
      7,305 SF

      Uptown Marion Mixed-Use Property

      Prime Uptown Marion property with established pub and apartments.
      1038-1048 7Th Ave, Marion, IA 52302
      View Details
    • $118,900
      969 SF

      Meticulously Maintained Two-Bedroom Condo

      Two-bedroom, two-bath condo with open floor plan and balcony.
      780 Magnolia Ln, Marion, IA 52302
      View Details
    • New
      $260,000
      3,100 SF

      Marion, Iowa Quadplex Investment

      Four units, two bedrooms, one bath, great investment opportunity.
      4681 Vasey Ave, Marion, IA 52302
      View Details
    • $195,000
      1,794 SF

      Turnkey Mixed-Use Investment Property

      Mixed-use property with retail/office space and residential apartment.
      462 7Th Ave, Marion, IA 52302
      View Details
    • $154,950
      1,821 SF

      Marion Duplex with Leases

      Marion duplex featuring two-bedroom units with existing leases.
      943 18Th St, Marion, IA 52302
      View Details
    • $634,950
      4,800 SF

      Marion Office Investment Opportunity

      All-brick office building with long-term tenants and solar energy integration.
      888 10Th St, Marion, IA 52302
      View Details

    Similar Nearby for Sale

    • $118,900
      969 SF

      Meticulously Maintained Two-Bedroom Condo

      Two-bedroom, two-bath condo with open floor plan and balcony.
      780 Magnolia Ln, Marion, IA 52302
      View Details
    • $1,100,000
      7,305 SF

      Uptown Marion Mixed-Use Property

      Prime Uptown Marion property with established pub and apartments.
      1038-1048 7Th Ave, Marion, IA 52302
      View Details
    • New
      $260,000
      3,100 SF

      Marion, Iowa Quadplex Investment

      Four units, two bedrooms, one bath, great investment opportunity.
      4681 Vasey Ave, Marion, IA 52302
      View Details
    • $195,000
      1,794 SF

      Turnkey Mixed-Use Investment Property

      Mixed-use property with retail/office space and residential apartment.
      462 7Th Ave, Marion, IA 52302
      View Details
    • $154,950
      1,821 SF

      Marion Duplex with Leases

      Marion duplex featuring two-bedroom units with existing leases.
      943 18Th St, Marion, IA 52302
      View Details
    • $634,950
      4,800 SF

      Marion Office Investment Opportunity

      All-brick office building with long-term tenants and solar energy integration.
      888 10Th St, 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
    • $12 SF/Yr
      800 SF

      Retail Space Near Collins Road

      Retail property with high visibility and strong co-tenancy.
      1398-1470 Twixt Town Rd, Marion, IA 52302
      View Details
    • $21 SF/Yr
      1,200 SF

      Professional Office Suite For Rent

      Turnkey office suite in a rapidly growing retail district.
      295 Tower Terrace Rd, Marion, IA 52302
      View Details
    • $12 SF/Yr
      64,024 SF

      Cemar Centre Office Space

      Prime Marion, IA Office Building
      3301 Armar Dr, Marion, IA 52302
      View Details
    • $12 SF/Yr
      19,533 SF

      Grand Avenue Office Space

      Marion, IA Office Suites Available
      1155 Grand Ave, Marion, IA 52302
      View Details
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    990 Grand Ave
    Marion, IA 52302
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    Realmo Value Estimation

    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.

    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.

    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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