New Construction Industrial Building
For Sale
Contact for pricing
3455 Marnie Ave, Waterloo, IA 50701
Flexible shop/warehouse & office facility in Cedar Rapids, Iowa.
Property Size13,248 SF
Lot Size3.35 Acres
Price / SF$148.54
Days on Market142
Property Features for 3455 Marnie Ave
General Information
Standard status
Active
Size
13,248 SF
Lot size
3.35 Acres
Property subtype
Industrial, Mixed Use
Zoning
Commercial
Building Details
Year Built
2026
Buildings
1
Stories
1
Units
1
Listing Agency:
Pinnacle Realty
(319) 350-9476
Listed By:
Trev Adair · License #322502720
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 11 at 11:06AM
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 Pinnacle Realty
Investment Insights
Based on property information with market context.
This new construction industrial building opportunity is located in Cedar Rapids, Iowa. The project is designed as a flexible shop, warehouse, and office facility. The building offers both a cost-effective shell option and a fully finished turn-key solution. The total building size is 13,248 sqft, with office dimensions of 32’ x 54’ (1,728 sqft) and shop dimensions of 60’ x 120’ (11,520 sqft). The building is of post frame construction with an insulated shop and a 20’ ceiling height. It includes four 16’ x 16’ overhead doors, 200 amp electrical service, LED lighting, and full utilities to the building. The finished office option includes a reception area, five private offices, a 12-chair conference room, a breakroom with kitchenette, two restrooms, LVP flooring, and a data/storage closet. The vanilla shell option includes grading, utilities, aggregate base, stormwater infrastructure, building erection, and insulation with 16’x16’ OH doors and 3’ walk-in doors. The finished option includes a concrete parking lot, apron, office & shop finished to city code. The property is centrally located in the fast-growing corridor off the exit, less than 3 miles from data center projects, with strong demand for contractor space and low-maintenance construction. It is located on Ders Drive NW in Cedar Rapids, Iowa, off the Swisher/Shueyville exit on the west side of I380, less than ½ mile to the interchange and approximately 1 mile to the Eastern Iowa Airport and 2.5 miles to the new Data Center Megaprojects. The building can be erected and ready for occupancy in approximately 12-16 weeks.
Key Highlights
- New construction industrial building with flexible build‑to‑suit options and low maintenance design.
- Prime location in the fast‑growing corridor near major data center projects and the I‑380 interchange.
- Choice of vanilla shell or finished turn‑key options, allowing for customization or immediate occupancy.
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
$59,435
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
3.02%
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%
$1,188,700
$1.2M
Cap Rate 7%
$849,071
$849.1K
Cap Rate 9%
$660,389
$660.4K
Market Conditions
NOI Build-Up for 13,248 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
$97.0K $7.32/SF
− Vacancy
−$5.5K −$0.42/SF
EGI
$91.4K $6.90/SF
− OpEx
−$32.0K −$2.42/SF
NOI
$59.4K $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%
$1,188,700
Cap Rate 7%
$849,071
Cap Rate 9%
$660,389
Alternative Uses
Best Use
Warehouse
$13.40M
$11.72M – $15.63M
NOI $937,765 @ 7.0% cap · market cap 47.65%
Second Best
Industrial
$11.03M
$9.65M – $12.87M
NOI $772,277 @ 7.0% cap · market cap 39.24%
Theoretical Best
Mixed Use
$16.61M
$14.53M – $19.38M
NOI $1,162,512 @ 7.0% cap · market cap 59.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Balanced
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flexible shop/warehouse & office facility in Cedar Rapids, Iowa.
Where is this flex space located?
The property is located at 3455 Marnie Ave Waterloo, IA.
What is the asking price?
The asking price for this property is $1,967,879.
What are key features of this property?
This property features: New construction industrial building with flexible build‑to‑suit options and low maintenance design.; Prime location in the fast‑growing corridor near major data center projects and the I‑380 interchange.; Choice of vanilla shell or finished turn‑key options, allowing for customization or immediate occupancy.
