Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2221 SW 4th Street Waverly, IA 50677

    View on Map
    Claim this Listing
    For Sale
    $579,900

    SINGLE_FAMILY - Waverly, IA

    Type:Office
    Lot size:
    0.45 Acres
    Added:
    Mar 10, 2026
    Days on Market:
    55
    Last Refresh:
    May 3 at 1:06 pm

    Property Features for 2221 SW 4th Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    C-2
    Standard status
    Active
    APN
    0911300026
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    11-91-14 PARCEL F SW SW "EX W FR PT"
    Tax Annual Amount
    8252

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1898
    Roof type
    Composition

    We can help!

    Listing Contact
    Timothy Lalk

    Listing agent Timothy Lalk License #S71966000

    Listing office Century 21 Signature Real Estate-Waverly 805 W. Bremer Ave, Cedar Falls, IA

    Listing date Mar 10, 2026

    MLS# 20260945

    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.

    Overview

    Prime Commercial Opportunity in Waverly

    This commercial property is located on 4th Street in Waverly, Iowa, in a rapidly developing area. Formerly a veterinary clinic, the building is suitable for various business or investment purposes. Situated on 4th Street, with dedicated turning lanes and convenient access to Highway 218, the property benefits from high visibility and accessibility. The location is near national retailers and restaurants, including a newly built Starbucks, Taco Bell, and Aldi, and is directly across the street from Walmart and next to Kwik Star, generating substantial daily traffic and exposure. The property includes parking in both the front and rear of the building, providing access for customers and staff. The lot size is 0.45 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waverly
    County
    Bremer
    State
    Iowa
    Longitude
    -92.4755662
    Latitude
    42.703773

    Nearby Similar for Sale

    • $699,900

      Commercial Property in Waverly, IA

      Prime commercial property with retail, office, and warehouse space.
      1510 SW 4th Street, Waverly, IA 50677
      View Details
    • $755,000

      Mixed-Use Asset Near Wartburg College

      High-visibility mixed-use property with residential units and commercial potential.
      805 W Bremer Avenue, Waverly, IA 50677
      View Details
    • $237,500

      Waverly Multifamily Income Property

      Five-unit income property in Waverly, Iowa, with potential for six.
      102 NW 9th Avenue, Waverly, IA 50677
      View Details
    • $1,400,000
      33,400 SF

      Waverly Industrial Space For Sale

      Economical industrial space with warehouse and office in good condition.
      1919 8th Street Southwest, Waverly, IA, 50677
      View Details
    • $599,900
      4,992 SF

      Waverly Commercial Property on 4th

      Highly visible commercial property in a fast-growing Waverly corridor.
      2221 SW 4th Street, Waverly, IA 50677
      View Details
    • $99,000
      1,500 SF

      Insulated Storage Unit For Sale

      Unfinished 1500 sqft storage unit with utilities included.
      900 Adams Parkway 16, Waverly, IA 50677
      View Details
    • $104,000
      1,500 SF

      Insulated Storage Unit For Sale

      1500 sqft insulated storage unit with utilities included.
      900 Adams Parkway 27, Waverly, IA 50677
      View Details
    • $104,000
      1,500 SF

      Insulated Storage Unit For Sale

      Unfinished 1500 sqft storage unit with utilities included.
      900 Adams Parkway Unit 29, Waverly, IA 50677
      View Details
    • $104,000
      1,500 SF

      Insulated Storage Unit For Sale

      1500 SF insulated storage unit with utilities included.
      900 Adams Parkway Unit 24, Waverly, IA 50677
      View Details
    • $104,000
      1,500 SF

      Insulated Storage Unit For Sale

      Unfinished 1500 sqft storage unit with utilities included.
      900 Adams Parkway Unit 23, Waverly, IA 50677
      View Details
    • $104,000
      1,500 SF

      Insulated Storage Unit For Sale

      Unfinished 1500 sqft storage unit with utilities included.
      900 Adams Parkway Unit 27, Waverly, IA 50677
      View Details
    • $104,000
      1,500 SF

      Insulated Storage Unit For Sale

      Unfinished 1500 sqft storage unit with utilities included.
      900 Adams Parkway Unit 25, Waverly, IA 50677
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Highly visible commercial property in a fast-growing Waverly corridor.
    Where is this medical office space located?
    The property is located at 2221 SW 4th Street Waverly, IA.
    What is the asking price?
    The asking price for this property is $579,900.
    What are key features of this property?
    This property features: Prime location on busy 4th Street with **high visibility and accessibility**.; Close proximity to major national retailers and restaurants (Starbucks, Taco Bell, Aldi, Walmart, Kwik Star).; Versatile building suitable for various business or investment uses.
    (319) 504-9351
    We can help!
    Listing Contact
    Timothy Lalk
    Real Estate License ID: S71966000
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    2221 SW 4th Street, Waverly, IA 50677

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!