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31687933
31687949

501 7th Ave, Marion, IA 52302

Skogman Commercial Group
Listed by Skogman Commercial Group
$899,000
47 days on market
Updated 5 days ago

501 7th Ave

Details
APN 140113300200000
Property Type Retail, Special Purpose
Sub Type Storefront
Square Footage 5,000
Units 1
Cap Rate 8.69%
NOI $80,419
Occupancy 100%
Tenancy Single
Lease Type NN+
Lease Expiration 07/30/2028
Remaining Term 2.3
Rent Bumps Yes
Price per SqFt $185
Class A
Year Built 1999
Year Renovated 2017
Buildings 1
Stories 1
Lot Size (SqFt) 23,100
Zoning Commercial
Parking Spaces spaces
Investment Type Net Lease
Ground Lease No
Ceiling Height 11-14
Ownership Salter Holdings LLC

Retail | 8.69% CAP | 5,000 SqFt

Marketing description

Turnkey investment opportunity featuring a regional Anytime Fitness franchisee in a highly visible, high-traffic location. Recently completed a $50,000 interior refresh, demonstrating continued commitment to the space and long-term operation. There are just under 2 years remaining on the current 6-year lease, which includes scheduled rental increases. Tenant is responsible for property taxes, while the landlord covers maintenance and building insurance. The property has been well maintained with significant capital improvements, including a full interior and exterior renovation with an addition in 2017 (new HVAC installed at that time), a new roof in 2020, and new asphalt parking lot in 2022. Strong tenant, solid improvements, and excellent visibility make this a compelling addition to any investment portfolio.

Investment highlights

  • NOI - $80,419
  • CAP Rate - 8.69%
  • Tenant In Place with National Franchise
  • Capital Improvements: Renovation and addition with new HVAC (2017), new roof (2020), and new
  • asphalt parking lot (2022).

Listing Contacts

Skogman Commercial Group
Listed by Skogman Commercial Group

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$80,419.00
$6,701.58/mo

Valuation Metrics

0
DSCR
8.95%
Cap Rate
8.95%
ROI

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