Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Downtown Waterloo Renovated Office/Retail Space Title is generated by Realmo AI

    614 Mulberry Street Suite B, Waterloo, IA 50703

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,100/Mo $1.10 SF/Yr (calc)

    Newly renovated office/retail space in Downtown Waterloo.

    Type:Rental
    Property size:
    12,000 SF
    Lot size:
    0.10 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    48
    Last Refresh:
    Feb 10 at 3:59 pm

    Property Features for 614 Mulberry Street Suite B

    General Information

    Standard status
    Active
    Size
    12,000 SF
    Lot size
    0.10 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Matt Miehe, CCIM
    Matt Miehe, CCIM

    Listing agent Matt Miehe, CCIM License #B581830

    Listing office Miehe Commercial Real Estate

    Listing date Mar 24, 2026

    Source Exitrealty

    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 Miehe Commercial Real Estate

    HighLights

    • Newly renovated office/retail space in Downtown Waterloo.
    • Flexible, wide‑open space suitable for various retail or office uses.
    • Located adjacent to Lincoln Park and near Waterloo City Hall and Black Hawk County Courthouse.
    • Features fresh paint, LED lighting, and hardwood floors.
    • Tall ceilings.
    • Estimated average utilities of $101/month.

    Overview

    Located in Downtown Waterloo, just off the corner of E. 4th Street and Mulberry, adjacent to Lincoln Park and near Waterloo City Hall and Black Hawk County Courthouse, this newly renovated office/retail space features fresh paint, LED Lighting, hardwood floors, tall ceilings, and a single restroom. The wide-open space offers flexibility and could serve many retail or office users. The property's estimated average utilities cost is $101 per month for electric, gas, water, sewer, and garbage. The property size is 12000 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    arms hairstyling centre Hair Salon

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waterloo
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.333888
    Latitude
    42.499649

    Nearby Similar for Lease

    • $12 SF/Yr

      Versatile Commercial Space in Waterloo

      High-visibility Waterloo corner property with office and retail space.
      1118 Ansborough Avenue, Waterloo, IA 50701
      View Details
    • $5 SF/Yr

      Waterloo Industrial Space For Lease

      Versatile industrial property in Waterloo's established industrial corridor.
      3050 Wagner Road, Waterloo, IA 50703
      View Details
    • $1,200/Mo

      Waterloo Commercial Space For Rent

      Warehouse/commercial space with updated office in high-traffic location.
      110 Vinton Street, Waterloo, IA 50703
      View Details
    • $5,000/Mo

      Waterloo Industrial Space with Shop

      Industrial space with shop, renovated office, and ample yard.
      2612 Texas Street, Waterloo, IA 50702
      View Details
    • Contact for pricing

      Historic Building Retail/Office/Restaurant Space

      First floor space suitable for retail, office, or restaurant.
      209 West 5th Street, Waterloo, IA, 50701
      View Details
    • $17 SF/Yr

      Office Space with Multiple Rooms

      Office space featuring multiple private and conference rooms for rent.
      360 Westfield Avenue, Waterloo, IA, 50701
      View Details
    • $5 SF/Yr

      Former Hancock Fabrics Retail Store

      17,422 SF retail space with high visibility and traffic.
      2830 University Avenue, Waterloo, IA 50701
      View Details
    • Contact for pricing

      Industrial Single Tenant Space

      Industrial space available for single tenant occupancy.
      81 Sycamore St, Waterloo, IA 50703
      View Details
    • Contact for pricing

      Former University Training and Classroom

      Former Upper Iowa University training and classroom space available for rent.
      3563 University Avenue, Waterloo, IA 50701
      View Details
    • Contact for pricing

      Commercial Space for Rent

      Commercial space available for lease at $1,400 per month.
      2829 University Ave, Waterloo, IA 50701
      View Details
    • $8 SF/Yr

      Waterloo Warehouse Space Available

      8,600 SF warehouse space for sublease until 2026.
      1800-1806 Commercial St, Waterloo, IA
      View Details
    • Contact for pricing

      Waterloo Warehouse with Outdoor Storage

      150,000 SF warehouse space with ample outdoor storage available for sublease.
      300 Ansborough Ave, Waterloo, IA
      View Details

    FAQs

    What type of property is this?
    Office units - Newly renovated office/retail space in Downtown Waterloo.
    Where is this office units located?
    The property is located at 614 Mulberry Street Suite B Waterloo, IA.
    What is the lease rate?
    The lease rate is $1,100 /Mo.
    What are key features of this property?
    This property features: Newly renovated office/retail space in Downtown Waterloo.; Flexible, wide‑open space suitable for various retail or office uses.; Located adjacent to Lincoln Park and near Waterloo City Hall and Black Hawk County Courthouse.
    (319) 269-6222
    We can help!
    Listing Contact
    Matt Miehe, CCIM
    Matt Miehe, CCIM
    Real Estate License ID: B581830
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    614 Mulberry Street Suite B, Waterloo, IA 50703
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!