Medical Office
For Sale
$269,900
1210 Southtown Drive, Waterloo, IA 50702
Office building with reception, multiple rooms, and large parking on a 0.51-acre lot.
Property Size2,972 SF
Lot Size0.51 Acres
Price / SF$90.81
Days on Market143
Property Features for 1210 Southtown Drive
General Information
Standard status
Active
Size
2,972 SF
Lot size
0.51 Acres
Property subtype
Commercial
Zoning
C-2
Taxes and HOA fees
Annual Taxes
$10,234
Amenities
large parking area
welcoming reception area with vaulted ceiling
multiple offices and exam rooms
kennel or large storage areas
0.51
2972
Building Details
Building Size
2,972 SF
Year Built
1981
Listing Agency:
Fischels Commercial Group
(319) 393-0900
Listed By:
Tina Wing
(319) 270-3747
Source:
Pinnaclerealtyia
Added: Jun 2
Changed: Oct 15
Last Checked: Oct 20 at 5:51PM
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 Fischels Commercial Group
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Investment Insights
Based on property information with market context.
This 2,972 SF office building is set on a 0.51-acre lot and designed for a variety of healthcare and professional uses. The property includes a welcoming reception area with a vaulted ceiling, multiple offices and exam rooms, and kennel or large storage areas.
The building is conveniently located on Southtown Drive near Dan Deery, Home Depot, Walmart, and Crossroads Mall, providing access and strong visibility within a commercial corridor.
The interior layout supports flexible utilization across office and exam functions, with parking available on the property for client and staff access.
The building is conveniently located on Southtown Drive near Dan Deery, Home Depot, Walmart, and Crossroads Mall, providing access and strong visibility within a commercial corridor.
The interior layout supports flexible utilization across office and exam functions, with parking available on the property for client and staff access.
Key Highlights
- 2,972 SF office building built in 1981 on a 0.51‑acre lot
- Large parking area plus reception area with vaulted ceiling
- Multiple offices and exam rooms for professional use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,464
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$389,280
$389.3K
Cap Rate 7%
$278,057
$278.1K
Cap Rate 9%
$216,267
$216.3K
Market Conditions
NOI Build-Up for 2,972 SF
Gross rent
$34.2K $11.52/SF
− Vacancy
−$8.3K −$2.79/SF
EGI
$26.0K $8.73/SF
− OpEx
−$6.5K −$2.18/SF
NOI
$19.5K $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%
$389,280
Cap Rate 7%
$278,057
Cap Rate 9%
$216,267
Alternative Uses
Best Use
Healthcare Medical
$401.2K
$351.1K – $468.1K
NOI $28,085 @ 7.0% cap · market cap 10.41%
Second Best
Office B
$278.1K
$243.3K – $324.4K
NOI $19,464 @ 7.0% cap · market cap 7.21%
Theoretical Best
Mixed Use
$3.73M
$3.26M – $4.35M
NOI $260,793 @ 7.0% cap · market cap 96.63%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 50702, IA
20,447
Population
9,722
Households
2.1
Avg Household Size
37
Median Age
21%
College-Educated
89%
High-School Grad
9.8 sq mi
ZIP Area
2,086
Density / Sq Mi
$59,784
Median Household Income
$38,826
Median Earnings
$926
Median Rent
$145,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Klima Small Animal Clinic: Shoemaker Kristin DVM — 1210 Southtown Dr, Waterloo, IA 50702
- Klima Small Animal Clinic — 1210 Southtown Dr, Waterloo, IA 50702
Frequently Asked Questions
What type of property is this?
Medical Office Space - Office building with reception, multiple rooms, and large parking on a 0.51-acre lot.
Where is this medical office space located?
The property is located at 1210 Southtown Drive Waterloo, IA.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 2,972 SF office building built in 1981 on a 0.51‑acre lot; Large parking area plus reception area with vaulted ceiling; Multiple offices and exam rooms for professional use
