Nursery and Garden Center
2501 Melrose Drive, Cedar Falls, IA 50613
For Sale
$1,395,000
The site includes retail, warehouse, greenhouse, and canopy improvements with extensive concrete paving.
Property Size11,843 SF
Lot Size2.09 Acres
Price / SF$130.48
Days on Market49
Property Features for 2501 Melrose Drive
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Property Condition
Severity
Evidence
Warehouse & Industrial
Warehouse Space
Mezzanine
Sprinkler System
Taxes and HOA fees
Annual Taxes
Amenities
HVAC
loading dock
Concrete
Corner Lot,City Street
2.09
11843
Building Details
Building Size
Year Built
Listing Agency:
Century 21 Signature RE- Waverly
(319) 352-1157
Listed By:
Timothy Lalk · License IA S71966000
(319) 504-9351
Source:
Pinnaclerealtyia
Added: Sep 22
Changed: Nov 8
Last Checked: Nov 8 at 4:42AM
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 Century 21 Signature RE- Waverly
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Investment Insights
Based on property information with market context.
This 2.09-acre commercial property in Cedar Falls includes a 7,475-square-foot main retail building with HVAC, an exposed wet sprinkler system, and a finished mezzanine. Supporting improvements include a 900-square-foot warehouse with loading dock, an 1,800-square-foot greenhouse, and a 1,152-square-foot attached canopy. Existing retail fixtures have largely been removed, leaving the interior available for reconfiguration.
Approximately 39,000 square feet of concrete paving provides substantial surfaced outdoor and parking areas. The property is zoned S-1 and includes a functional commercial layout with improvements dating to 1984. Its combination of retail, storage, greenhouse, and covered areas supports continued nursery-related use or other permitted commercial applications.
Approximately 39,000 square feet of concrete paving provides substantial surfaced outdoor and parking areas. The property is zoned S-1 and includes a functional commercial layout with improvements dating to 1984. Its combination of retail, storage, greenhouse, and covered areas supports continued nursery-related use or other permitted commercial applications.
Key Highlights
- 2.09‑acre commercial site in Cedar Falls
- 7,475 SF main retail building with HVAC and exposed wet sprinkler system
- 900 SF warehouse with loading dock
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,070
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,121,400
$2.1M
Cap Rate 7%
$1,515,286
$1.5M
Cap Rate 9%
$1,178,556
$1.2M
Market Conditions
NOI Build-Up for 10,691 SF
Gross rent
$165.5K $15.48/SF
− Vacancy
−$14.0K −$1.31/SF
EGI
$151.5K $14.17/SF
− OpEx
−$45.5K −$4.25/SF
NOI
$106.1K $9.92/SF
Area
Black Hawk County, IA
Vacancy
8.44%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,121,400
Cap Rate 7%
$1,515,286
Cap Rate 9%
$1,178,556
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.77M
NOI $106,070 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,861 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Hy-Vee Lawn & Garden — 6301 University Ave, Cedar Falls, IA 50613
- Earl May Garden Center — 2501 Melrose Dr, Cedar Falls, IA 50613
Frequently Asked Questions
What type of property is this?
Nursery and garden center - The site includes retail, warehouse, greenhouse, and canopy improvements with extensive concrete paving.
Where is this nursery and garden center located?
The property is located at 2501 Melrose Drive Cedar Falls, IA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 2.09‑acre commercial site in Cedar Falls; 7,475 SF main retail building with HVAC and exposed wet sprinkler system; 900 SF warehouse with loading dock
