Freestanding Medical Office
For Sale
Contact for pricing
236 NATIONAL DR, Waterloo, IA 50701
Updated single-tenant facility with dedicated parking, prominent signage, and lease occupancy extending through May 2027.
Property Size6,074 SF
Price / SF$267.53
Days on Market9
Property Features for 236 NATIONAL DR
General Information
Standard status
Active
Size
6,074 SF
Property subtype
Office
Zoning
R-1, C-Z
Occupancy
100%
Additional Details
Office Units
1
Building Details
Year Built
1979
Buildings
1
Stories
1
Units
1
Tenancy
Single
Building Size
6,074 SF
Owner Occupied
No
Listing Agency:
The Fischels Group
(319) 234-5000
Listed By:
Chris Fischels · License #IA B44779000
Source:
Crexi
Added: Jul 27
Changed: Aug 3
Last Checked: Aug 4 at 10:21AM
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 The Fischels Group
Investment Insights
Based on property information with market context.
This freestanding medical office property provides a 4,820-square-foot main level and a 1,254-square-foot basement, totaling 6,074 square feet. The building was constructed in 1979 and has been updated for medical office operations, with a layout suited to clinical care or professional administrative use. It is configured for a single tenant and includes a dedicated parking lot and on-site signage.
The property is fully leased through May 2027, providing an established occupancy profile for an investor while preserving a future option for an owner-user. Zoning is identified as R-1, C-Z. The combination of medical-office functionality, basement area, parking, and existing lease term supports both current tenancy and longer-term practice use.
The property is fully leased through May 2027, providing an established occupancy profile for an investor while preserving a future option for an owner-user. Zoning is identified as R-1, C-Z. The combination of medical-office functionality, basement area, parking, and existing lease term supports both current tenancy and longer-term practice use.
Key Highlights
- 4,820‑square‑foot main level plus 1,254‑square‑foot basement
- 6,074‑square‑foot total building area
- Single‑tenant medical office building with updated improvements
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $109.3k | $18.00 |
| − Vacancy | −$13.7k | −$2.25 |
| EGI | $95.7k | $15.75 |
| − OpEx | −$38.3k | −$6.30 |
| NOI | $57.4k | $9.45 |
6,074 SF · lease $18.00/SF/yr · vacancy 12.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$820.0K
$717.5K – $956.7K
NOI $57,399 @ 7.0% cap · market cap 3.53%
Second Best
Office B
$568.3K
$497.2K – $663.0K
NOI $39,779 @ 7.0% cap · market cap 2.45%
Theoretical Best
Mixed Use
$7.61M
$6.66M – $8.88M
NOI $532,994 @ 7.0% cap · market cap 32.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
549
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated single-tenant facility with dedicated parking, prominent signage, and lease occupancy extending through May 2027.
Where is this medical office space located?
The property is located at 236 NATIONAL DR Waterloo, IA.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: 4,820‑square‑foot main level plus 1,254‑square‑foot basement; 6,074‑square‑foot total building area; Single‑tenant medical office building with updated improvements
