Flex Space with Basement
New
For Sale
$160,000
2201 Falls Avenue, Waterloo, IA 50701
The property combines four office areas with a basement suited to storage or work use.
Property Size1,858 SF
Price / SF$86.11
Days on Market2
Property Features for 2201 Falls Avenue
General Information
Standard status
Active
Size
1,858 SF
Property subtype
Commercial
Zoning
comm
Site & Location
Corner Location
Yes
Mixed-Use Components
retail, warehouse
Additional Details
Property Use
Retail, Warehouse
Taxes and HOA fees
Annual Taxes
$2,590
Amenities
0.12
1858
Building Details
Building Size
1,858 SF
Year Built
1929
Listing Agency:
LEPIC-KROEGER, REALTORS
(319) 393-0900
Listed By:
Gabby Wilson
(309) 314-6058
Source:
Pinnaclerealtyia
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 24 at 3:14PM
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 LEPIC-KROEGER, REALTORS
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Investment Insights
Based on property information with market context.
Located at 2201 Falls Avenue in Waterloo, this flex property has a front reception area, four office or conference rooms, a kitchenette, and a restroom. The basement provides additional space for storage or work use, and the building has a rear or side-street parking area.
The property is zoned comm and sits on a corner lot. Its layout includes both office areas and basement space under one roof.
The property is zoned comm and sits on a corner lot. Its layout includes both office areas and basement space under one roof.
Key Highlights
- Four office or conference areas
- Basement space for storage or work use
- Zoning: comm
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,336
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$166,720
$166.7K
Cap Rate 7%
$119,086
$119.1K
Cap Rate 9%
$92,622
$92.6K
Market Conditions
NOI Build-Up for 1,858 SF
Gross rent
$13.6K $7.32/SF
− Vacancy
−$777 −$0.42/SF
EGI
$12.8K $6.90/SF
− OpEx
−$4.5K −$2.42/SF
NOI
$8.3K $4.49/SF
Area
Black Hawk County, IA
Vacancy
5.71%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$166,720
Cap Rate 7%
$119,086
Cap Rate 9%
$92,622
Alternative Uses
Best Use
Warehouse
$1.88M
$1.64M – $2.19M
NOI $131,519 @ 7.0% cap · market cap 82.20%
Second Best
Industrial
$1.55M
$1.35M – $1.81M
NOI $108,310 @ 7.0% cap · market cap 67.69%
Theoretical Best
Mixed Use
$2.33M
$2.04M – $2.72M
NOI $163,040 @ 7.0% cap · market cap 101.90%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - The property combines four office areas with a basement suited to storage or work use.
Where is this flex space located?
The property is located at 2201 Falls Avenue Waterloo, IA.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Four office or conference areas; Basement space for storage or work use; Zoning: comm
