501 7th AVE, Marion, IA 52302-5741
501 7th AVE, Marion, IA 52302-5741
501 7th AVE, Marion, IA 52302-5741
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$879,000
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5,000 Sqft Lot
Price Dropped by $20K

501 7th AVE Marion, IA 52302-5741

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Amir Elgaali

Amir Elgaali

+1(319) 855-0017

UPDATED:

Key Details

Property Type Commercial

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 202602994

Year Built 1999

Annual Tax Amount $15,918

Tax Year 2025

Lot Size 5,000 Sqft

Acres 0.53

Lot Dimensions Irregular

Property Sub-Type Commercial

Property 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.

Location

State IA

County Linn

Zoning Comm

Direction From I-380 headed North, take exit 22 for 29th ST, Take right on 29th ST NE/Coldstream Ave NE, Take a LEFT on 1st AVE NE. Take 1st AVE all the way into Marion where it will turn into 7th AVE. Property is on the RIGHT after Villas Patio Restaurant.

Interior

Heating Natural Gas, Central

Cooling Central Air

Flooring Concrete Slab Grade

Exterior

Utilities Available Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Phone Available, City Water

Roof Type Composition

Building

Lot Size Range Half To One Acre

Structure Type Frame

Others

Tax ID 14011-33002-00000

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

Listed by Skogman Realty Co.

NEARBY SCHOOL & BUSINESS

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Amir Elgaali

Amir Elgaali

Agent | License ID: 66564000

+1(319) 855-0017

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501 7th AVE