Climate-Controlled Flex and Storage
For Sale
$137,500
2811 Geraldine Road, Waterloo, IA 50703
25-by-50 units with climate control, overhead door access, and private utilities support both storage and small business use.
Property Size7,500 SF
Price / SF$110
Days on Market98
Property Features for 2811 Geraldine Road
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Commercial
Zoning
M-1
Taxes and HOA fees
Annual Taxes
$4,225
Amenities
0.08
7500
Building Details
Building Size
7,500 SF
Year Built
2023
Listing Agency:
Fischels Commercial Group
(319) 393-0900
Listed By:
Angie Buck
(319) 361-9457
Source:
Pinnaclerealtyia
Added: Jun 2
Changed: Sep 6
Last Checked: Sep 7 at 5:15AM
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 Fischels Commercial Group
Investment Insights
Based on property information with market context.
This property offers climate-controlled storage units and business suites designed for practical access and operational flexibility. Each unit measures 25' x 50' and includes a 12' x 14' overhead door for straightforward loading and unloading. The interior layout features 16' side walls and a floor drain in each unit, while insulated walls help support consistent conditions. Suites also include a bathroom, and the property is served with separate electric and water meters for each unit.
The site is located on Geraldine Road between Cedar Falls and Waterloo, with proximity to Highway 218 and the Waterloo Regional Airport. A monthly HOA fee of $50 per month covers lawn maintenance, snow removal, and exterior insurance.
This configuration can fit owner-operators who want dedicated, climate-controlled space with private metering and straightforward overhead door access. The presence of a bathroom within each suite and the floor drain can be beneficial for a range of light industrial or service-oriented uses that need more functional in-unit infrastructure.
The site is located on Geraldine Road between Cedar Falls and Waterloo, with proximity to Highway 218 and the Waterloo Regional Airport. A monthly HOA fee of $50 per month covers lawn maintenance, snow removal, and exterior insurance.
This configuration can fit owner-operators who want dedicated, climate-controlled space with private metering and straightforward overhead door access. The presence of a bathroom within each suite and the floor drain can be beneficial for a range of light industrial or service-oriented uses that need more functional in-unit infrastructure.
Key Highlights
- Newer build (2023) storage unit and/or business suite opportunity with climate control
- Each unit is 25' x 50' with a 12' x 14' overhead door and 16' side walls
- Floor drain included in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$5,608
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$112,160
$112.2K
Cap Rate 7%
$80,114
$80.1K
Cap Rate 9%
$62,311
$62.3K
Market Conditions
NOI Build-Up for 1,250 SF
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.
Gross rent
$9.2K $7.32/SF
− Vacancy
−$522 −$0.42/SF
EGI
$8.6K $6.90/SF
− OpEx
−$3.0K −$2.42/SF
NOI
$5.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$112,160
Cap Rate 7%
$80,114
Cap Rate 9%
$62,311
Alternative Uses
Best Use
Industrial
$1.04M
$910.8K – $1.21M
NOI $72,867 @ 7.0% cap · market cap 52.99%
Second Best
Self Storage
$213.7K
$187.0K – $249.4K
NOI $14,962 @ 7.0% cap · market cap 10.88%
Theoretical Best
Mixed Use
$1.57M
$1.37M – $1.83M
NOI $109,688 @ 7.0% cap · market cap 79.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 50703, IA
18,913
Population
8,705
Households
2.2
Avg Household Size
38
Median Age
13%
College-Educated
87%
High-School Grad
93.2 sq mi
ZIP Area
203
Density / Sq Mi
$49,412
Median Household Income
$33,105
Median Earnings
$926
Median Rent
$92,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - 25-by-50 units with climate control, overhead door access, and private utilities support both storage and small business use.
Where is this self storage facility located?
The property is located at 2811 Geraldine Road Waterloo, IA.
What is the asking price?
The asking price for this property is $137,500.
What are key features of this property?
This property features: Newer build (2023) storage unit and/or business suite opportunity with climate control; Each unit is 25' x 50' with a 12' x 14' overhead door and 16' side walls; Floor drain included in each unit
