Office Space in Bank
For Sale
Contact for pricing
201 Tower Park Drive, Waterloo, IA 50701
8,000 sq. ft. office space with elevator access and a large staff-and-client parking area.
Property Size103,859 SF
Price / SF$0.91
Days on Market288
Property Features for 201 Tower Park Drive
General Information
Standard status
Active
Size
103,859 SF
Property subtype
Commercial
Zoning
C-2,C-Z
Lease Type
Gross
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$251,386
Amenities
Tile,Carpet,Concrete
City Street,Frontage Road
7.38
103859
Building Details
Building Size
103,859 SF
Year Built
1990
Stories
3
Listing Agency:
GLD COMMERCIAL
(319) 393-0900
Listed By:
Tatiana McClinton
(319) 270-6253
Source:
Pinnaclerealtyia
Added: Jan 5
Changed: Oct 16
Last Checked: Oct 19 at 3:55AM
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 GLD COMMERCIAL
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering provides 8,000 sq. ft. of office space within the Farmers State Bank building at 201 Tower Park Drive in Waterloo, Iowa. The space features elevator access and is supported by a very large parking area for staff and clients.
The building is located just off Kimball Avenue and San Marnan Drive and is described as highly visible from Hwy 20.
The space is available as presented at 8,000 sq. ft., with the option to divide according to the owner’s stated configuration. The listing also references an NNN structure, with estimated NNN expenses of $6.24 PSF and a quoted lease rate of $7.00 PSF NNN.
The building is located just off Kimball Avenue and San Marnan Drive and is described as highly visible from Hwy 20.
The space is available as presented at 8,000 sq. ft., with the option to divide according to the owner’s stated configuration. The listing also references an NNN structure, with estimated NNN expenses of $6.24 PSF and a quoted lease rate of $7.00 PSF NNN.
Key Highlights
- 8,000 sq. ft. office space available in the Farmers State Bank building
- Elevator access plus a very large parking area for staff and clients
- High visibility from Hwy 20
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,566
Suggested Prices Based on Cap Rates
Cap Rate 5%
$171,320
$171.3K
Cap Rate 7%
$122,371
$122.4K
Cap Rate 9%
$95,178
$95.2K
Market Conditions
NOI Build-Up for 1,308 SF
Gross rent
$15.1K $11.52/SF
− Vacancy
−$3.6K −$2.79/SF
EGI
$11.4K $8.73/SF
− OpEx
−$2.9K −$2.18/SF
NOI
$8.6K $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%
$171,320
Cap Rate 7%
$122,371
Cap Rate 9%
$95,178
Alternative Uses
Best Use
Office B
$122.4K
$107.1K – $142.8K
NOI $8,566 @ 7.0% cap · market cap 716.82%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$1.64M
$1.43M – $1.91M
NOI $114,777 @ 7.0% cap · market cap 9,604.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
255
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
Frequently Asked Questions
What type of property is this?
Office unit - 8,000 sq. ft. office space with elevator access and a large staff-and-client parking area.
Where is this office unit located?
The property is located at 201 Tower Park Drive Waterloo, IA.
What are key features of this property?
This property features: 8,000 sq. ft. office space available in the Farmers State Bank building; Elevator access plus a very large parking area for staff and clients; High visibility from Hwy 20
