Retail Store
For Sale
Contact for pricing
1850 Logan Ave, Waterloo, IA 50703
For sale retail building offering a single commercial space.
Property Size14,737 SF
Price / SF$230.11
Days on Market184
Property Features for 1850 Logan Ave
General Information
Standard status
Active
Size
14,737 SF
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$373,020
Building Details
Tenancy
Single
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License #177814
(888) 737-2264
Source:
Crexi
Added: Mar 4
Changed: Aug 17
Last Checked: Aug 14 at 7:33AM
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 Bang Realty
Investment Insights
Based on property information with market context.
This for-sale retail store building is marketed as a total of 14,737 square feet of retail space. The listing is categorized under retail properties and retail space, with the property type also referenced as a drug store.
The property is located at 1850 Logan Ave in Waterloo, Iowa (50703).
The property is located at 1850 Logan Ave in Waterloo, Iowa (50703).
Key Highlights
- Retail building for sale
- Single commercial space totaling 14,737 SF
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
$156,656
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
4.62%
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%
$3,133,120
$3.1M
Cap Rate 7%
$2,237,943
$2.2M
Cap Rate 9%
$1,740,622
$1.7M
Market Conditions
NOI Build-Up for 14,737 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
$228.1K $15.48/SF
− Vacancy
−$19.3K −$1.31/SF
EGI
$208.9K $14.17/SF
− OpEx
−$52.2K −$3.54/SF
NOI
$156.7K $10.63/SF
Area
Black Hawk County, IA
Vacancy
8.44%
Lease Rate
$15.48 /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%
$3,133,120
Cap Rate 7%
$2,237,943
Cap Rate 9%
$1,740,622
Alternative Uses
Best Use
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,656 @ 7.0% cap · market cap 4.62%
Second Best
Retail
$2.09M
$1.83M – $2.44M
NOI $146,212 @ 7.0% cap · market cap 4.31%
Theoretical Best
Mixed Use
$18.47M
$16.16M – $21.55M
NOI $1,293,172 @ 7.0% cap · market cap 38.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
65k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Dining 38%
Hotels & Casinos 1%
Kwik Trip
Shops & Services
30,218 visits/mo
0.1 miles
McDonald's
Dining
15,406 visits/mo
0.3 miles
Dollar Tree
Shops & Services
6,639 visits/mo
0.5 miles
Taco Bell
Dining
5,956 visits/mo
0.2 miles
SUBWAY
Dining
3,752 visits/mo
0.4 miles
Demographics for 50703, IA
18,913
Population
8,705
Households
2.2
Avg Household Size
38
Median Age
13%
College-Educated
87%
High-School Grad
93.2 sq mi
ZIP Area
203
Density / Sq Mi
$49,412
Median Household Income
$33,105
Median Earnings
$926
Median Rent
$92,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Infusion Services — 1825 Logan Ave, Waterloo, IA 50703
- Amy J. Bucknell, PharmD — Waterloo, IA 50703, United States
- Allen Clinic Pharmacy — 146 W Dale St, Waterloo, IA 50703
- Maria L. Schult, RPh — Waterloo, IA 50703
- Laura Peloquin — Allen Hospital Anticoagulation Clinic, 1825 Logan Ave RM 551, Waterloo, IA 507031916
Frequently Asked Questions
What type of property is this?
Drug store - For sale retail building offering a single commercial space.
Where is this drug store located?
The property is located at 1850 Logan Ave Waterloo, IA.
What is the asking price?
The asking price for this property is $3,391,091.
What are key features of this property?
This property features: Retail building for sale; Single commercial space totaling 14,737 SF
