Building Details

Building Size 25,439 SF

Year Built 1959

Listing Agency: IOWA REALTY Show Phone

Listed By: Ali Rashid Show Phone

Source: Pinnaclerealtyia

Added: Feb 16, 2024 Changed: Oct 15 Last Checked: Oct 19 at 4:01AM

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Investment Insights

Based on property information with market context.

This office suite is available in the Community Service Building and is configured with private offices, a meeting room, restroom, and reception area. The arrangement is suited to organizations that need dedicated workspaces and a place to meet with visitors or staff.

The building is centrally located along the University Avenue corridor, next to New Maple Lanes. Building amenities include a shared board room, training rooms, secure storage, daily janitorial service, and an on-site property manager.

The available space is offered under a full-service structure, with tenant responsibility limited to suite janitorial, internet, and phone.

Key Highlights

• 2.62‑acre community service building with a total building area of 25,439 SF
• Office suite includes private offices, meeting room, restroom, and reception
• Suite is centrally located on the Waterloo University Ave corridor next to New Maple Lanes

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,446

Suggested Prices Based on Cap Rates

Cap Rate 5%

$468,920 $468.9K

Cap Rate 7%

$334,943 $334.9K

Cap Rate 9%

$260,511 $260.5K

What to ask about pricing

Market Conditions

NOI Build-Up for 3,580 SF

Gross rent

$41.2K $11.52/SF

− Vacancy

−$10.0K −$2.79/SF

EGI

$31.3K $8.73/SF

− OpEx

−$7.8K −$2.18/SF

NOI

$23.4K $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%

$468,920

Cap Rate 7%

$334,943

Cap Rate 9%

$260,511

Alternative Uses

Best Use

Office B

$334.9K

$293.1K – $390.8K (±1% cap)

NOI $23,446 @ 7.0% cap · market cap 293,075.00%

Second Best

—

—

no second resolved use

Theoretical Best

Mixed Use

$4.49M

$3.93M – $5.24M (±1% cap)

NOI $314,145 @ 7.0% cap · market cap 3,926,812.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Alzheimer's Association Charitable Organization Waterloo Red Cross ... Charitable Organization Junior League of Waterloo-Cedar ... Charitable Organization Community Services Building Charitable Organization

Suggested Use

Top Pick Law Firm Dental Office (Bike/Boat/Book/etc) Store Pharmacy Cafe & Coffee Shop Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

537

Businesses Nearby

Explore this area Business Placement

Demographics for 50701, IA

29,806

Population

14,530

Households

2.1

Avg Household Size

39

Median Age

30%

College-Educated

95%

High-School Grad

79.1 sq mi

ZIP Area

377

Density / Sq Mi

$62,857

Median Household Income

$41,464

Median Earnings

$846

Median Rent

$183,400

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Office suite with private offices, meeting room, restroom, and reception in a community service building.

Where is this office unit located?

The property is located at 2530 University Avenue Waterloo, IA.

What are key features of this property?

This property features: 2.62‑acre community service building with a total building area of 25,439 SF; Office suite includes private offices, meeting room, restroom, and reception; Suite is centrally located on the Waterloo University Ave corridor next to New Maple Lanes