501 7th Avenue, Marion, IA 52302
Linn County
Key Facts
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.
Property Information
Property Type
Commercial Sale
Year Built
1999
Stories
1
Living Area
5,000 sq ft
Lot Dimensions
Irregular
Zoning
Comm
Days on Market
519
MLS® Listing#
2408145
Property Features
Cooling
Heating
Flooring
Parking
Construction
Roof
Windows
Security
Utilities
Sewer
Water Source
Financial Details
Annual Taxes
$15,782
Parcel Number
140113300200000
Directions
7th Ave (Hwy 151) in Marion to 501
Affordability Calculator
$179,800
Estimated monthly payment
$4,785/mo
Principal $719,200 · Est. interest $1,003,348 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Marion, IA
- $404,000
- Median Listing Price
- 68
- Median Days on Market
- 2,322
- Median Sq Ft
- $165
- Median Price / Sq Ft
- 136
- Active Listings
- This home’s price is 123% above the area median.
- Its price per sq ft is 9% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Marion, IA.
Location
Points of Interest in Marion, IA
Showing the Marion area map.
Nearby Schools
Vernon Middle School
Secondary · 0.5 mi away
Emerson Elementary School
Elementary · 0.6 mi away
St Joseph Catholic School
School · 0.7 mi away
Marion High School
Secondary · 0.8 mi away
Starry Elementary School
Elementary · 0.8 mi away
Francis Marion Intermediate School
Elementary · 0.9 mi away
Marion Independent School District
School · 0.9 mi away
Novak Elementary School
Elementary · 1.2 mi away
Longfellow Elementary
Elementary · 1.2 mi away
Wilkins Elementary School
Elementary · 1.4 mi away
Indian Creek Elementary School
Elementary · 1.4 mi away
Linn-Mar High School
Secondary · 1.4 mi away
Caring Corner
School · 1.4 mi away
Bowman Woods Elementary School
Elementary · 1.4 mi away
Linn Mar Stadium
School · 1.5 mi away
Linn-Mar Community Schools
Secondary · 1.5 mi away
Excelsior Middle School
Secondary · 1.8 mi away
KENWOOD Elementary School
Elementary · 2.2 mi away
Summit Schools
Secondary · 2.3 mi away
Harding Middle School
Secondary · 2.4 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| LOT 3 TOWER TERRACE Road, Marion, IA | $631,620 | — | — | — |
| Lot 3 Tower Terrace Rd, Marion, IA | $631,620 | — | — | — |
| 2260 Timber Creek Drive, Marion, IA | $634,950 | 4 | 4 | 3,495 |
| 209 Fieldstone Circle, Marion, IA | $659,900 | 5 | 3 | 3,272 |
| 4135 Tall Pines Court, Marion, IA | $674,900 | 5 | 4 | 3,239 |
| 850 35th Street, Marion, IA | $676,704 | — | — | — |
Moving Cost Estimate
EXIT Agents in Marion
Listing Courtesy: SKOGMAN REALTY - 3193666427
Presented by: Tim Nash