LEED-Certified Corporate Office
1 Peregrine Way, Cedar Falls, IA 50613
For Sale
$14,000,000
Commercial Sale, Cedar Falls, IA
Property Size78,000 SF
Lot Size22.00 Acres
Price / SF$179.49
Days on Market173
Property Features for 1 Peregrine Way
General Information
Property type
Property subtype
Zoning
Bathrooms
Full bathrooms
Rooms
Parking
Basement
Subdivision
Standard status
APN
Lot size
Additional Details
Property Use
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
executive offices
conference rooms
expansive server storage
gated key-card security
full cafeteria with walk-in refrigeration
fitness center
sauna
locker rooms
fresh air systems
illuminated walking paths
daycare rooms
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
KW Elite powered by KW 1Advantage · Keller Williams Realty
(563) 345-6520
Listed By:
Dianne Granger · License IA S66680000
(563) 663-2400
Added: May 23
Changed: Oct 31
Last Checked: Nov 11 at 8:06PM
MLS# 154716
Copyright © 2026 East Central Iowa Association 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.
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Investment Insights
Based on property information with market context.
Set on 22 acres, this 78,000-square-foot office campus was completed in 2008 and holds Gold LEED certification. Interior spaces include executive offices, conference rooms, server storage, a cafeteria with walk-in refrigeration, and glass partitions that allow office layouts to be adjusted. Building systems include geothermal heating and cooling, radiant heat, a CAT C27 backup generator, separate IT fire control, and a 25,000-gallon underground emergency water system.
A two-story atrium features 40-foot glass walls, while underground parking, gated key-card access, and private water and sewer serve the property. Employee amenities include a fitness center, sauna, two locker rooms, and two daycare rooms for infants through kindergarten. The campus is situated beside Beaver Hills Golf Course, with illuminated walking paths overlooking golf course and wildlife views.
A two-story atrium features 40-foot glass walls, while underground parking, gated key-card access, and private water and sewer serve the property. Employee amenities include a fitness center, sauna, two locker rooms, and two daycare rooms for infants through kindergarten. The campus is situated beside Beaver Hills Golf Course, with illuminated walking paths overlooking golf course and wildlife views.
Key Highlights
- 78,000‑square‑foot office campus on 22 acres
- Built in 2008; Gold LEED certified
- Geothermal heating and cooling, radiant heat, and CAT C27 backup generator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$510,831
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,216,620
$10.2M
Cap Rate 7%
$7,297,586
$7.3M
Cap Rate 9%
$5,675,900
$5.7M
Market Conditions
NOI Build-Up for 78,000 SF
Gross rent
$898.6K $11.52/SF
− Vacancy
−$217.5K −$2.79/SF
EGI
$681.1K $8.73/SF
− OpEx
−$170.3K −$2.18/SF
NOI
$510.8K $6.55/SF
Area
Black Hawk County, IA
Vacancy
24.20%
Lease Rate
$11.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,216,620
Cap Rate 7%
$7,297,586
Cap Rate 9%
$5,675,900
Alternative Uses
Best Use
Office B
$7.30M
$6.39M – $8.51M
NOI $510,831 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.58M
$17.13M – $22.84M
NOI $1,370,604 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
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Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Black Hawk County, IA
Properties on Market for Office buildings in Black Hawk County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Geothermal systems, adaptable office areas, and on-site employee amenities support a range of corporate operations.
Where is this office building located?
The property is located at 1 Peregrine Way Cedar Falls, IA.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: 78,000‑square‑foot office campus on 22 acres; Built in 2008; Gold LEED certified; Geothermal heating and cooling, radiant heat, and CAT C27 backup generator
