Renovated Office
New
For Sale
Contact for pricing
2101 Falls Avenue, Waterloo, IA 50701
Commercial Sale, Waterloo, IA
Property Size840 SF
Lot Size0.12 Acres
Price / SF$0.95
Days on Market2
Property Features for 2101 Falls Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
c
Directions
Between Fletcher and Ansborough on Falls Ave
Standard status
Active
APN
891322356006
Lot size
0.12 Acres
Additional Details
Property Use
Office
Condition
Move-in Ready
Taxes and HOA fees
Tax Year
2026
Tax Description
see abstract
Tax Annual Amount
2479
Legal Description
see abstract
Building Details
Year built
1951
Listing Agency:
Berkshire Hathaway Home Serv · Berkshire Hathaway HomeServices
(319) 233-7000
Listed By:
Jared Hottle
(319) 288-5382
Added: Oct 27
Last Checked: Oct 28 at 11:06PM
MLS# 20265253
Copyright © 2026 Northeast Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 840-square-foot office suite at 2101 Falls Avenue has a front office that connects to a larger open work area. A basement adds storage, and a side entrance provides another point of access. The suite has central air conditioning and boiler heat, along with an updated bathroom, LED lighting, new flooring, and refreshed wall finishes. A new street-facing window brings daylight into the space and provides a storefront presence.
The property occupies a corner at Magnolia Parkway and Falls Avenue in Waterloo. The intersection carries more than 3,000 cars per day, and parking is available on site. The suite is near new residential development and ongoing commercial construction.
The property occupies a corner at Magnolia Parkway and Falls Avenue in Waterloo. The intersection carries more than 3,000 cars per day, and parking is available on site. The suite is near new residential development and ongoing commercial construction.
Key Highlights
- 840 SF office suite with front office and open work area
- Basement storage and side entrance
- Central AC and boiler heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,501
Suggested Prices Based on Cap Rates
Cap Rate 5%
$110,020
$110.0K
Cap Rate 7%
$78,586
$78.6K
Cap Rate 9%
$61,122
$61.1K
Market Conditions
NOI Build-Up for 840 SF
Gross rent
$9.7K $11.52/SF
− Vacancy
−$2.3K −$2.79/SF
EGI
$7.3K $8.73/SF
− OpEx
−$1.8K −$2.18/SF
NOI
$5.5K $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 Rate 5%
$110,020
Cap Rate 7%
$78,586
Cap Rate 9%
$61,122
Alternative Uses
Best Use
Office B
$78.6K
$68.8K – $91.7K
NOI $5,501 @ 7.0% cap · market cap 687.63%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$1.05M
$921.4K – $1.23M
NOI $73,710 @ 7.0% cap · market cap 9,213.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - A flexible workspace pairs a dedicated front office with a substantial basement for storage.
Where is this office unit located?
The property is located at 2101 Falls Avenue Waterloo, IA.
What are key features of this property?
This property features: 840 SF office suite with front office and open work area; Basement storage and side entrance; Central AC and boiler heat
