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 Market180
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: Oct 15
Last Checked: Oct 21 at 12:10AM
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
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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 / Yr
$180,233
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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
