Gold LEED Certified Office
For Sale
$14,000,000
1 Peregrine Way, Cedar Falls, IA 50613
2008-built LEED-certified office campus with geothermal systems, atrium entrance, and underground parking.
Property Size78,250 SF
Lot Size22.00 Acres
Price / SF$178.91
Days on Market47
Property Features for 1 Peregrine Way
General Information
Standard status
Active
Size
78,250 SF
Lot size
22.00 Acres
Amenities
executive offices
conference rooms
expansive server storage
underground parking
gated key-card security
full cafeteria with walk-in refrigeration
fitness center
sauna
locker rooms
fresh air systems
illuminated walking paths
daycare facilities
Building Details
Year Built
2008
Listing Agency:
KW Elite powered by KW 1Advantage
Listed By:
Dianne Granger · License #S66680000
(563) 663-2400
Source:
Kwlegacyrealty
Added: Jul 21
Changed: Sep 3
Last Checked: Sep 4 at 10:22AM
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 KW Elite powered by KW 1Advantage
Investment Insights
Based on property information with market context.
Built in 2008, this Gold LEED Certified office campus is offered as a cohesive corporate headquarters setting. The property includes a 78,000-square-foot facility featuring a two-story atrium entrance with 40-foot floor-to-ceiling glass walls, granite flooring, Italian marble, bamboo flooring, and local limestone. Flexible glass wall systems support adaptable office configurations, with conference rooms and executive offices throughout. Building systems include geo-thermal heating and cooling, radiant heat, remote-controlled systems, and separate IT fire control systems. Additional infrastructure includes a CAT C27 backup generator and a 25,000-gallon underground emergency water system, supported by heated underground parking and gated key-card security.
The campus is situated on 22 secluded acres beside Beaver Hills Golf Course and includes a full cafeteria with walk-in refrigeration, expansive server storage, and an amenities package that lists a fitness center, sauna, locker rooms, fresh air systems, and illuminated walking paths.
The property also includes daycare facilities for infants through kindergarten, along with rooftop greenspace potential.
The campus is situated on 22 secluded acres beside Beaver Hills Golf Course and includes a full cafeteria with walk-in refrigeration, expansive server storage, and an amenities package that lists a fitness center, sauna, locker rooms, fresh air systems, and illuminated walking paths.
The property also includes daycare facilities for infants through kindergarten, along with rooftop greenspace potential.
Key Highlights
- 2008‑built Gold LEED Certified corporate headquarters on 22 secluded acres beside Beaver Hills Golf Course
- 78,000 SF facility designed for approximately 300 employees, with a two‑story atrium entrance and 40‑ft floor‑to‑ceiling glass walls
- Geo‑thermal heating and cooling plus radiant heat; heated underground parking and advanced remote‑controlled building systems
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
$512,469
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
3.66%
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%
$10,249,380
$10.2M
Cap Rate 7%
$7,320,986
$7.3M
Cap Rate 9%
$5,694,100
$5.7M
Market Conditions
NOI Build-Up for 78,250 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
$901.4K $11.52/SF
− Vacancy
−$218.1K −$2.79/SF
EGI
$683.3K $8.73/SF
− OpEx
−$170.8K −$2.18/SF
NOI
$512.5K $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 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%
$10,249,380
Cap Rate 7%
$7,320,986
Cap Rate 9%
$5,694,100
Alternative Uses
Best Use
Office B
$7.32M
$6.41M – $8.54M
NOI $512,469 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$98.09M
$85.83M – $114.44M
NOI $6,866,438 @ 7.0% cap · market cap 49.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 2008-built LEED-certified office campus with geothermal systems, atrium entrance, and underground parking.
Where is this office building located?
The property is located at 1 Peregrine Way Cedar Falls, IA.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: 2008‑built Gold LEED Certified corporate headquarters on 22 secluded acres beside Beaver Hills Golf Course; 78,000 SF facility designed for approximately 300 employees, with a two‑story atrium entrance and 40‑ft floor‑to‑ceiling glass walls; Geo‑thermal heating and cooling plus radiant heat; heated underground parking and advanced remote‑controlled building systems
