New Steel
For Sale
$249,900
320 W 14th Street, Waterloo, IA 50702
M1-zoned warehouse with drive-in access, mezzanine space, building systems, and alley connectivity.
Property Size2,560 SF
Lot Size0.20 Acres
Price / SF$97.62
Days on Market104
Property Features for 320 W 14th Street
General Information
Standard status
Active
Size
2,560 SF
Total Parking Spaces
2
Lot size
0.20 Acres
Property subtype
Commercial
Zoning
M1
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
2,560 SF
Mezzanine
540 SF
Drive-In Doors
1
Conditioned Warehouse
Yes
Amenities
0.2
2560
Building Details
Building Size
2,560 SF
Year Built
2025
Buildings
1
Construction
steel
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 551-6448
Listed By:
Cole Breitbach
(319) 551-6448
Source:
Pinnaclerealtyia
Added: May 21
Changed: Aug 30
Last Checked: Aug 31 at 1:41PM
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 Lepic-Kroeger, REALTORS
Investment Insights
Based on property information with market context.
This 2025-built steel warehouse at 320 W 14th Street in Waterloo provides 2,560 square feet of open interior space. The building is still being completed, with the shell in place. Improvements include a 16’ x 14’ overhead door, LED high-bay lighting, forced-air heating and cooling, a floor drain with oil separator, fixed windows, and an ADA-compliant restroom. A 13’6” x 40’ mezzanine adds space for storage or work functions.
The property sits on an 8,520-square-foot lot near the Hwy 218 corridor, with a front drive-in door and alley access. Two parking spaces are included, with room for additional parking. City water, sewer, and electric service are in place. M1 zoning and the open layout support contractor, trade, storage, and small-business operations as described.
The property sits on an 8,520-square-foot lot near the Hwy 218 corridor, with a front drive-in door and alley access. Two parking spaces are included, with room for additional parking. City water, sewer, and electric service are in place. M1 zoning and the open layout support contractor, trade, storage, and small-business operations as described.
Key Highlights
- 2,560‑square‑foot steel warehouse built in 2025
- 16’ x 14’ overhead door with front drive‑in and alley access
- 13’6” x 40’ mezzanine for storage or workspace
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
$11,485
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
4.60%
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%
$229,700
$229.7K
Cap Rate 7%
$164,071
$164.1K
Cap Rate 9%
$127,611
$127.6K
Market Conditions
NOI Build-Up for 2,560 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
$18.7K $7.32/SF
− Vacancy
−$1.1K −$0.42/SF
EGI
$17.7K $6.90/SF
− OpEx
−$6.2K −$2.42/SF
NOI
$11.5K $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%
$229,700
Cap Rate 7%
$164,071
Cap Rate 9%
$127,611
Alternative Uses
Best Use
Warehouse
$2.59M
$2.27M – $3.02M
NOI $181,211 @ 7.0% cap · market cap 72.51%
Second Best
Industrial
$2.13M
$1.87M – $2.49M
NOI $149,232 @ 7.0% cap · market cap 59.72%
Theoretical Best
Mixed Use
$3.21M
$2.81M – $3.74M
NOI $224,640 @ 7.0% cap · market cap 89.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 50702, IA
20,447
Population
9,722
Households
2.1
Avg Household Size
37
Median Age
21%
College-Educated
89%
High-School Grad
9.8 sq mi
ZIP Area
2,086
Density / Sq Mi
$59,784
Median Household Income
$38,826
Median Earnings
$926
Median Rent
$145,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - M1-zoned warehouse with drive-in access, mezzanine space, building systems, and alley connectivity.
Where is this warehouse located?
The property is located at 320 W 14th Street Waterloo, IA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 2,560‑square‑foot steel warehouse built in 2025; 16’ x 14’ overhead door with front drive‑in and alley access; 13’6” x 40’ mezzanine for storage or workspace
