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1225 7th Ave
Marion, IA 52302

Walgreens Marion IA / 7.0% Cap Rate · Retail Property For Sale

PROPERTY FACTS

Property Type
Retail
Property Subtype
Drug Store
Building Size
13,791 SF
Building Class
C
Year Built
1998
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.45 AC
Parking
61 Spaces (4.42 Spaces per 1,000 SF Leased)
Frontage
163 FT on 7th Ave

Amenities

  • Pylon Sign
  • Signage
  • Drive Thru

About 1225 7th Ave , Marion, IA 52302

Touchstone Commercial Partners is pleased to offer for sale a solid-performing Walgreens Store located in Marion IA. Walgreens has been operating at this location since 1998 and the lease runs through July 2028 (9 years remaining) with six 5-year renewal options. The lease is guaranteed by Walgreens Co (S&P:BBB) which has over 100 years of operating history, 14,300 stores worldwide in 25 countries. The property is located at a busy corridor in downtown Marion directly across the street from Marion City Hall. Cedar Rapids, the 2nd largest city in Iowa, is just 6 miles away. The store serves as a strategic hub for 5 nearby urgent care and medical centers that are within 5-minute drive. About Marion, IA Named among the Top 10 for ‘Safest Cities in Iowa’ and ‘Most Livable Small City’ in America, Marion is one of the most attractive and fastest developing cities in Iowa. Over two dozen Fortune 500 companies including General Mills, Nordstrom, Whirlpool and Quaker Oats (part of PepsiCo) are located in the area. Broker of Record Steve Moore, Steve Moore Real Estate, IA Lic #B20464000

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
15062-43001-00000
Land Assessment
$836,600
Improvements Assessment
$871,600
Total Assessment
$1,708,200
  • Listing ID: 16175278

  • Date on Market: 5/28/2019

  • Last Updated:

  • Address: 1225 7th Ave, Marion, IA 52302

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