Climate-Controlled Flex Storage
For Sale
$137,500
1-2811 Geraldine Rd, Waterloo, IA
Climate-controlled units include a 12’x14’ overhead door, 16’ side walls, and a bathroom in each suite.
Property Size1,250 SF
Price / SF$110
Days on Market69
Property Features for 1-2811 Geraldine Rd
General Information
Standard status
Active
Size
1,250 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Clear Height
16 ft
Amenities
climate controlled
separate electric meter
separate water meter
insulated walls
bathroom
floor drain
Listing Agency:
AWRE - Commercial & Development
(563) 419-7644
Listed By:
Lindsey McEnaney · License #S70812000
(563) 419-7644
Source:
Exprealty
Added: Jun 2
Changed: Jul 27
Last Checked: Aug 8 at 8:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of AWRE - Commercial & Development
Investment Insights
Based on property information with market context.
This property offers climate-controlled flex storage suites designed to function as both storage units and business space. Each unit is configured with insulated walls and includes a 12’ x 14’ overhead door, 16’ side walls, and a floor drain. Suites also feature separate electric and water meters, plus a bathroom.
Located on Geraldine Road between Cedar Falls and Waterloo, the property is within close proximity to Highway 218 and the Waterloo Regional Airport. A monthly HOA fee of $50 covers lawn, snow, and exterior insurance.
Each suite is built to operate independently, with utility metering and enclosed, insulated construction intended to support year-round use.
Located on Geraldine Road between Cedar Falls and Waterloo, the property is within close proximity to Highway 218 and the Waterloo Regional Airport. A monthly HOA fee of $50 covers lawn, snow, and exterior insurance.
Each suite is built to operate independently, with utility metering and enclosed, insulated construction intended to support year-round use.
Key Highlights
- Climate‑controlled storage units and business suites with separate electric and water meters
- Each unit is 25' x 50' with a 12' x 14' overhead door and 16' side walls
- Each suite includes a floor drain and a bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$5,608
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$112,160
$112.2K
Cap Rate 7%
$80,114
$80.1K
Cap Rate 9%
$62,311
$62.3K
Market Conditions
NOI Build-Up for 1,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$9.2K $7.32/SF
− Vacancy
−$522 −$0.42/SF
EGI
$8.6K $6.90/SF
− OpEx
−$3.0K −$2.42/SF
NOI
$5.6K $4.49/SF
Area
Black Hawk County, IA
Vacancy
5.71%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$112,160
Cap Rate 7%
$80,114
Cap Rate 9%
$62,311
Alternative Uses
Best Use
Warehouse
$1.26M
$1.11M – $1.47M
NOI $88,482 @ 7.0% cap · market cap 64.35%
Second Best
Industrial
$1.04M
$910.8K – $1.21M
NOI $72,867 @ 7.0% cap · market cap 52.99%
Theoretical Best
Mixed Use
$1.57M
$1.37M – $1.83M
NOI $109,688 @ 7.0% cap · market cap 79.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,270
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Climate-controlled units include a 12’x14’ overhead door, 16’ side walls, and a bathroom in each suite.
Where is this self storage facility located?
The property is located at 1-2811 Geraldine Rd Waterloo, IA.
What is the asking price?
The asking price for this property is $137,500.
What are key features of this property?
This property features: Climate‑controlled storage units and business suites with separate electric and water meters; Each unit is 25' x 50' with a 12' x 14' overhead door and 16' side walls; Each suite includes a floor drain and a bathroom
