Flexible Commercial
For Sale
Contact for pricing
2840 University Avenue, Waterloo, IA 50701
The adaptable layout accommodates retail, office, showroom, and service uses.
Property Size42,814 SF
Days on Market48
Property Features for 2840 University Avenue
General Information
Standard status
Active
Size
42,814 SF
Property subtype
Commercial
Zoning
C-2
Lease Type
Net
Taxes and HOA fees
Annual Taxes
$39,954
Amenities
2.44
42814
Building Details
Building Size
42,814 SF
Year Built
1960
Listing Agency:
Koch Real Estate
(319) 393-0900
Listed By:
Sara Kruse
(319) 329-0619
Source:
Pinnaclerealtyia
Added: Sep 2
Changed: Oct 19
Last Checked: Oct 19 at 3:45AM
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 Koch Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 2840 University Avenue in Waterloo, this 9,392-square-foot commercial property was built in 1960 and offers a flexible interior configuration. The space can accommodate retail, office, showroom, service, and other commercial uses, with C-2 zoning supporting its commercial positioning.
The property fronts the University Avenue corridor and provides convenient access with ample on-site parking. Its adaptable floor plan gives occupants room to organize customer-facing areas, workspaces, displays, or service functions within one commercial setting.
The property fronts the University Avenue corridor and provides convenient access with ample on-site parking. Its adaptable floor plan gives occupants room to organize customer-facing areas, workspaces, displays, or service functions within one commercial setting.
Key Highlights
- 9,392 square feet of flexible commercial space
- C‑2 zoning
- Built in 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,136
Suggested Prices Based on Cap Rates
Cap Rate 5%
$842,720
$842.7K
Cap Rate 7%
$601,943
$601.9K
Cap Rate 9%
$468,178
$468.2K
Market Conditions
NOI Build-Up for 9,392 SF
Gross rent
$68.7K $7.32/SF
− Vacancy
−$3.9K −$0.42/SF
EGI
$64.8K $6.90/SF
− OpEx
−$22.7K −$2.42/SF
NOI
$42.1K $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%
$842,720
Cap Rate 7%
$601,943
Cap Rate 9%
$468,178
Alternative Uses
Best Use
Industrial
$7.82M
$6.84M – $9.12M
NOI $547,496 @ 7.0% cap · market cap 10,949,920.00%
Second Best
Retail
$1.33M
$1.16M – $1.55M
NOI $93,182 @ 7.0% cap · market cap 1,863,640.00%
Theoretical Best
Mixed Use
$11.77M
$10.30M – $13.74M
NOI $824,148 @ 7.0% cap · market cap 16,482,960.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
524
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 Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - The adaptable layout accommodates retail, office, showroom, and service uses.
Where is this flex space located?
The property is located at 2840 University Avenue Waterloo, IA.
What are key features of this property?
This property features: 9,392 square feet of flexible commercial space; C‑2 zoning; Built in 1960
