Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    604 Clay Street unit 301 Cedar Falls, IA 50613

    View on Map
    Claim this Listing
    For Lease
    $3,800 /Mo

    COMMERCIAL - Cedar Falls, IA

    Type:Office
    Property size:
    2,200 SF
    Lot size:
    0.45 Acres
    Added:
    Feb 4, 2026
    Days on Market:
    91
    Last Refresh:
    May 6 at 8:06 pm

    Property Features for 604 Clay Street unit 301

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    CD DT
    Standard status
    Active
    APN
    891412337015
    Size
    2,200 SF
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    EDWIN BROWNS ADDITION LOT 8 BLK 4 AND AUDITORS PLAT NO 19 LOT 7 AND N 1/2 ALLEY LYING IN SAID BLK BOUNDED BY SIXTH ST ON N AND SEVENTH ST ON S AND WASHINGTON ST ON E AND CLSY ST ON W AND EASE (BRIEF)
    Tax Annual Amount
    68496

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Central Air

    Building Details

    Year built
    1964

    We can help!

    Listing Contact
    Deanna Wheeler, GRI, CNE, CRS

    Listing agent Deanna Wheeler, GRI, CNE, CRS License #B28309000

    Listing office RE/MAX Concepts - Cedar Falls 4800 University Avenue RE/MAX Concepts, Cedar Falls, IA

    Listing date Feb 4, 2026

    MLS# 20256058

    Copyright © 2026 Northeast Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Premiere downtown Cedar Falls location.
    • 2200+ sq ft of professional office space.
    • Includes reception area, 5 separate office spaces, and large conference area.
    • Private bath with walk‑in shower, washer & dryer.
    • Front public entry, private back entry, and elevator.
    • Off‑street parking in rear and on‑street parking in front.

    Overview

    Downtown Cedar Falls Office Space

    This commercial property offers over 2200 square feet of professional office space in a premier downtown Cedar Falls location. The layout includes a reception area and five separate office spaces, one of which features a large conference area. A private bathroom is included, equipped with a large walk-in shower, washer, and dryer. Additional storage and closet space are available. The property has both a front public entry and a private back entry, as well as elevator access. Parking is included, with off-street parking located in the rear of the building and on-street parking available in the front. The property is located at 604 Clay Street in Cedar Falls, Iowa, and is situated on a lot of 0.45 acres. Immediate possession is available. The zoning is CD DT.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Red Lab Technologies Marketing & Advertising David Towle, PhD Psychotherapist TLC Connection Spiritual Center House View Media Photography Service Bailey's Computer Services IT Consulting Firm

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Falls
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.44787
    Latitude
    42.532937

    Nearby Similar for Lease

    • $2,933/Mo

      Retail Space in Cedar Falls

      Retail space available for lease in Cedar Falls, Iowa.
      924 Viking Road unit: 117, Cedar Falls, IA 50613
      View Details
    • $1,109/Mo

      Move-in Ready Office Space Available

      1,024 SF office suite near Upper Iowa University.
      4807 University Avenue unit: 202, Cedar Falls, IA 50613
      View Details
    • $850/Mo

      Cedar Falls Light Industrial Condo

      Light industrial storage condo in Cedar Falls Industrial Park.
      3015 Capital Way unit: 4, Cedar Falls, IA 50613
      View Details
    • $2,000/Mo

      Versatile Office Space in Cedar Falls

      Multi-tenant commercial office building in Cedar Falls Industrial Park.
      7009 Nordic Drive unit: Suite F, Cedar Falls, IA 50613
      View Details
    • $4,600/Mo

      Cedar Falls Office/Storage Space

      4906 sq ft office or storage/warehouse space for rent.
      4807 University Avenue unit: 001, Cedar Falls, IA 50613
      View Details
    • $550/Mo

      Versatile Commercial Office Building

      Multi-tenant office building in Cedar Falls Industrial Park.
      7009 Nordic Drive unit: Suite C, Cedar Falls, IA 50613
      View Details
    • $550/Mo

      Versatile Commercial Office Building

      Multi-tenant commercial office building in Cedar Falls Industrial Park.
      7009 Nordic Drive unit: Suite B, Cedar Falls, IA 50613
      View Details
    • $775/Mo

      Chalet Center Office Space

      Move-in-ready office space with private offices and collaborative workspace.
      4807 University Avenue unit: 205, Cedar Falls, IA 50613
      View Details
    • $660/Mo

      Chalet Center Office Space

      Office space for rent in Cedar Falls, Iowa.
      4807 University Avenue unit: 206, Cedar Falls, IA 50613
      View Details
    • Contact for pricing

      Light Industrial Storage Condo For Rent

      Newer light industrial storage condo in Cedar Falls, Iowa.
      3035 Capital Way, Cedar Falls, IA 50613
      View Details
    • Contact for pricing

      Prime Retail Space on College Hill

      Retail space in high-traffic area near University of Northern Iowa.
      2125 College St, Cedar Falls, IA 50613
      View Details
    • $15 SF/Yr

      Retail Space Available For Rent

      2,326 SF retail space available now for lease.
      4507 Algonquin Dr, Cedar Falls, IA
      View Details

    FAQs

    What type of property is this?
    Office units - Professional office space in a prime Cedar Falls location.
    Where is this office units located?
    The property is located at 604 Clay Street unit 301 Cedar Falls, IA.
    What is the lease rate?
    The lease rate is $3,800 /Mo.
    What are key features of this property?
    This property features: Premiere downtown Cedar Falls location.; 2200+ sq ft of professional office space.; Includes reception area, **5 separate office spaces, and large conference area.**
    (319) 230-0409
    We can help!
    Listing Contact
    Deanna Wheeler, GRI, CNE, CRS
    Real Estate License ID: B28309000
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    604 Clay Street unit: 301, Cedar Falls, IA 50613
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!