Updated Office Building with
New
For Sale
$349,900
3411 Midway Drive, Cedar Falls, IA 50613
Seven offices, a conference room, kitchenette, and coffee bar support a professional workplace layout.
Property Size3,644 SF
Price / SF$96.02
Days on Market7
Property Features for 3411 Midway Drive
General Information
Standard status
Active
Size
3,644 SF
Property subtype
Commercial
Zoning
c-2
Taxes and HOA fees
Annual Taxes
$6,725
Amenities
0.41
3644
Building Details
Building Size
3,644 SF
Year Built
1960
Listing Agency:
Oakridge Real Estate
(319) 270-3747
Listed By:
Tina Wing
(319) 270-3747
Source:
Pinnaclerealtyia
Added: Aug 5
Changed: Aug 11
Last Checked: Aug 11 at 5:02AM
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 Oakridge Real Estate
Investment Insights
Based on property information with market context.
This 3,644-square-foot office building, constructed in 1960, has been updated and provides seven private offices, a conference room, kitchenette, coffee bar, and bathroom on the main level. The basement is partially finished and includes additional area for expansion along with a second bathroom.
The property is located at 3411 Midway Drive in Cedar Falls, Iowa, and is zoned C-2. More than 10 dedicated parking spaces serve the building, adding practical convenience for employees and visitors. The existing configuration combines private work areas with shared meeting and service spaces in a flexible office setting.
The property is located at 3411 Midway Drive in Cedar Falls, Iowa, and is zoned C-2. More than 10 dedicated parking spaces serve the building, adding practical convenience for employees and visitors. The existing configuration combines private work areas with shared meeting and service spaces in a flexible office setting.
Key Highlights
- 3,644‑square‑foot office building constructed in 1960
- Seven offices plus a conference room on the main level
- Kitchenette and coffee bar included
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
$23,865
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
6.82%
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%
$477,300
$477.3K
Cap Rate 7%
$340,929
$340.9K
Cap Rate 9%
$265,167
$265.2K
Market Conditions
NOI Build-Up for 3,644 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
$42.0K $11.52/SF
− Vacancy
−$10.2K −$2.79/SF
EGI
$31.8K $8.73/SF
− OpEx
−$8.0K −$2.18/SF
NOI
$23.9K $6.55/SF
Area
Black Hawk County, IA
Vacancy
24.20%
Lease Rate
$11.52 /SF/Yr
Expense Ratio
25.00%
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%
$477,300
Cap Rate 7%
$340,929
Cap Rate 9%
$265,167
Alternative Uses
Best Use
Office B
$340.9K
$298.3K – $397.8K
NOI $23,865 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$4.57M
$4.00M – $5.33M
NOI $319,761 @ 7.0% cap · market cap 91.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Seven offices, a conference room, kitchenette, and coffee bar support a professional workplace layout.
Where is this office building located?
The property is located at 3411 Midway Drive Cedar Falls, IA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 3,644‑square‑foot office building constructed in 1960; Seven offices plus a conference room on the main level; Kitchenette and coffee bar included
