Industrial Office Building with
For Sale
$2,575,000
1224 Laporte Rd, Waterloo, IA 50702
Industrial office property includes finished office space and light industrial warehousing with dock and overhead doors on a 1.58-acre site.
Property Size40,174 SF
Lot Size1.58 Acres
Price / SF$64.10
Days on Market132
Property Features for 1224 Laporte Rd
General Information
Standard status
Active
Size
40,174 SF
Lot size
1.58 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Dock-High Doors
1
Taxes and HOA fees
Annual Taxes
$67,642
Listing Agency:
AWRE - Commercial & Development
(319) 269-2477
Listed By:
Phillip Shirk · License #B63101000
(319) 239-4446
Source:
Exprealty
Added: Apr 27
Changed: Sep 3
Last Checked: Sep 5 at 10:56AM
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 industrial/office building totals 40,174 square feet on a 1.58-acre site, with 10,011 square feet of finished office space and 30,163 square feet of light industrial space. The warehouse portion is equipped with a dock door and multiple overhead doors, supporting storage, distribution, or light manufacturing use cases. The finished office area is suitable for administrative functions, showroom activity, or customer-facing operations.
The property is located at 1224 Laporte Rd in Waterloo, Iowa, positioned along La Porte Road with quick access just seconds from HWY 218. The site provides ample parking and visibility within the region’s trade area, with room for outdoor storage or expansion as needed.
The property is located at 1224 Laporte Rd in Waterloo, Iowa, positioned along La Porte Road with quick access just seconds from HWY 218. The site provides ample parking and visibility within the region’s trade area, with room for outdoor storage or expansion as needed.
Key Highlights
- 40,174 SF industrial/office building on a 1.58‑acre site
- 10,011 SF finished office space for administrative, showroom, or customer‑facing use
- 30,163 SF light industrial/warehouse area for storage, distribution, or light manufacturing
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
$180,233
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
7.00%
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%
$3,604,660
$3.6M
Cap Rate 7%
$2,574,757
$2.6M
Cap Rate 9%
$2,002,589
$2.0M
Market Conditions
NOI Build-Up for 40,174 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
$294.1K $7.32/SF
− Vacancy
−$16.8K −$0.42/SF
EGI
$277.3K $6.90/SF
− OpEx
−$97.0K −$2.42/SF
NOI
$180.2K $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%
$3,604,660
Cap Rate 7%
$2,574,757
Cap Rate 9%
$2,002,589
Alternative Uses
Best Use
Warehouse
$40.62M
$35.55M – $47.40M
NOI $2,843,732 @ 7.0% cap · market cap 110.44%
Second Best
Industrial
$33.46M
$29.27M – $39.03M
NOI $2,341,897 @ 7.0% cap · market cap 90.95%
Theoretical Best
Mixed Use
$50.36M
$44.07M – $58.75M
NOI $3,525,269 @ 7.0% cap · market cap 136.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial office property includes finished office space and light industrial warehousing with dock and overhead doors on a 1.58-acre site.
Where is this flex space located?
The property is located at 1224 Laporte Rd Waterloo, IA.
What is the asking price?
The asking price for this property is $2,575,000.
What are key features of this property?
This property features: 40,174 SF industrial/office building on a 1.58‑acre site; 10,011 SF finished office space for administrative, showroom, or customer‑facing use; 30,163 SF light industrial/warehouse area for storage, distribution, or light manufacturing
