Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Sovia Dr Waterloo, IA

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail suites and outlots available in the Cedar Valley.

    Lot size:
    1.15 Acres

    Property Features for Sovia Dr

    General Information

    Lot size
    1.15 Acres

    We can help!

    Listing Contact
    Dustin Whitehead
    Dustin Whitehead
    Source: Moodyscre

    Listing Agent: Dustin Whitehead

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Prime Retail Land in Waterloo

    Located in the heart of the Cedar Valley’s retail district, this property is conveniently situated along East San Marnan Drive near the I-380/US 218 interchange. The site spans over 17 acres and offers retail suites ranging from 1,800 square feet to 18,120 square feet, as well as outlots from 0.79 acres to 1.15 acres. Tenant Improvement Allowance is available for qualifying tenants. Existing businesses in the area include Athletico, UnityPoint Urgent Care, Carlos O’Kellys, Planet Fitness, Kwik Star, Freddy’s Steakburgers, and Aaron’s. The rate is $12.00 per square foot.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Waterloo
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.3429631
    Latitude
    42.4927641

    Nearby Similar for Lease

    • $6,500 /Mo
      192,971 SF

      Versatile Commercial Property in Waterloo

      31,721 SF commercial space with warehouse, shop, and office.
      3130 W Shaulis-Entire Property Lease, Waterloo, IA 50701
      View Details
    • $5,000 /Mo
      164,221 SF

      Waterloo Industrial Space with Shop

      Industrial space with shop, renovated office, and ample yard.
      2612 Texas St, Waterloo, IA 50702
      View Details
    • $5 SF/Yr
      132,858 SF

      Waterloo Industrial Space For Lease

      Versatile industrial property in Waterloo's established industrial corridor.
      3050 Wagner Rd, Waterloo, IA 50703
      View Details
    • $4,250 /Mo
      5,663 SF

      Restaurant/Bar Space in Downtown Waterloo

      Prime downtown location with ready-to-go kitchen and flexible layout.
      225-229 E 4Th St, Waterloo, IA 50703
      View Details
    • $2,500 /Mo
      192,971 SF

      Waterloo Commercial Property with Shop

      Highly visible commercial property with showroom, offices, and heated shop.
      3130 W Shaulis-Office & Shop Lease, Waterloo, IA 50701
      View Details
    • $2,500 /Mo
      192,971 SF

      Waterloo Warehouse with Paint Booth

      Commercial warehouse with paint booth for lease in Waterloo.
      3130 W Shaulis- Warehouse Lease, Waterloo, IA 50701
      View Details
    • $18 SF/Yr
      12,000 SF

      Downtown Waterloo Retail Space

      Newly Renovated Office/Retail Suite - 718 SF
      614 Mulberry St, Waterloo, IA 50703
      View Details
    • $10 SF/Yr
      198,000 SF

      Waterloo Office Suites - Marriott Connected

      Prime office space near Deere & Co.
      250 Westfield Ave, Waterloo, IA 50701
      View Details
    • $7 SF/Yr
      6,714 SF

      Crossroads Blvd Retail Opportunity

      Prime 6,714 SF Retail Space, Redevelopment Potential
      2532 Crossroads Blvd, Waterloo, IA 50702
      View Details
    • $6 SF/Yr
      51,900 SF

      Prime Waterloo Industrial Space

      51,900 SF Flex Space, 6 Acres
      3530 Marnie Ave, Waterloo, IA 50701
      View Details
    • $6 SF/Yr
      30,705 SF

      Crossroads Blvd Retail Space

      Waterloo, IA: 7,200 SF Retail Available
      2039 Crossroads Blvd, Waterloo, IA 50702
      View Details
    • Contact for pricing
      8,459 SF

      Waterloo Retail Space: Prime Location

      8,459 SF Retail Space - Available Now
      3551 University Ave, Waterloo, IA 50701
      View Details

    FAQs

    What type of property is this?
    Commercial land - Retail suites and outlots available in the Cedar Valley.
    Where is this commercial land located?
    The property is located at Sovia Dr Waterloo, IA.
    What are key features of this property?
    This property features: - Prime location in the heart of the Cedar Valley's retail district, near the I-380/US 218 interchange.; - Variety of retail suite sizes available, ranging from 1,800 SF to 18,120 SF, and outlots from 0.79 acres to 1.15 acres.; - Tenant Improvement Allowance available for qualifying tenants.
    (319) 229-1003
    Request Owner's contact information
    Sovia Dr Waterloo, IA
    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.
    Sovia Dr
    Waterloo, IA
    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
    Sovia Dr Waterloo, IA
    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

    We can help!
    Listing Contact
    Dustin Whitehead
    Dustin Whitehead
    Real Estate License ID: B42209000
    (319) 229-1003
    Learn more
    Google sign-in failed. Please try again or use another login method.