Finished Flex Space
For Sale
$115,000
3318 Airline Highway, Waterloo, IA 50703
Commercial Sale, Waterloo, IA
Property Size1,000 SF
Lot Size1.10 Acres
Price / SF$115
Days on Market43
Property Features for 3318 Airline Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
c
Directions
Airline Hwy
Standard status
Active
APN
891305476014
Lot size
1.10 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3000
Building Details
Year built
2024
Listing Agency:
Structure Real Estate
(319) 260-2016
Listed By:
Brian Wingert · License #B60468000
(319) 404-4884
Added: Sep 21
Changed: Oct 7
Last Checked: Nov 2 at 8:06PM
MLS# 20264555
Copyright © 2026 Northeast Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2024 flex space property offers business suites measuring 20x50, with finished interiors featuring Level 3+ drywall, paint, and baseboard trim. Each unit includes separately metered utilities, a bathroom, heating and cooling, and a 12x14' overhead door. The configuration supports storage, contractor operations, and small business use as described for the property.
The property encompasses 1.1 acres at 3318 Airline Highway in Waterloo, Iowa, with c zoning. A future building is planned to offer custom-sized units beginning in 2027.
The property encompasses 1.1 acres at 3318 Airline Highway in Waterloo, Iowa, with c zoning. A future building is planned to offer custom-sized units beginning in 2027.
Key Highlights
- 20x50 business suites
- 12x14' overhead door
- Separately metered utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,486
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$89,720
$89.7K
Cap Rate 7%
$64,086
$64.1K
Cap Rate 9%
$49,844
$49.8K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$7.3K $7.32/SF
− Vacancy
−$418 −$0.42/SF
EGI
$6.9K $6.90/SF
− OpEx
−$2.4K −$2.42/SF
NOI
$4.5K $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 Rate 5%
$89,720
Cap Rate 7%
$64,086
Cap Rate 9%
$49,844
Alternative Uses
Best Use
Warehouse
$1.01M
$884.8K – $1.18M
NOI $70,785 @ 7.0% cap · market cap 61.55%
Second Best
Industrial
$832.8K
$728.7K – $971.6K
NOI $58,294 @ 7.0% cap · market cap 50.69%
Theoretical Best
Mixed Use
$1.25M
$1.10M – $1.46M
NOI $87,750 @ 7.0% cap · market cap 76.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Well-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Finished commercial suite with separately metered utilities, a private bathroom, climate control, and an overhead door.
Where is this flex space located?
The property is located at 3318 Airline Highway Waterloo, IA.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: 20x50 business suites; 12x14' overhead door; Separately metered utilities
