Medical Office Suite with 6
New
For Sale
Contact for pricing
346 E Ridgeway Avenue, Waterloo, IA 50702
Six private offices and a conference room provide a defined layout for professional services.
Property Size6,769 SF
Price / SF$0.01
Days on Market4
Property Features for 346 E Ridgeway Avenue
General Information
Standard status
Active
Size
6,769 SF
Property subtype
Commercial
Zoning
S1
Lease Type
Gross
Taxes and HOA fees
Annual Taxes
$14,389
Amenities
0.51
6769
Building Details
Building Size
6,769 SF
Year Built
1973
Listing Agency:
Whitaker Marketing Group
(319) 393-0900
Listed By:
Melissa Redinbaugh
(319) 550-5114
Source:
Pinnaclerealtyia
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 26 at 2:10PM
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 Whitaker Marketing Group
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Investment Insights
Based on property information with market context.
This 2,198-square-foot medical office suite at 346 E Ridgeway Avenue includes six private offices and a conference room. The layout also has potential for a waiting area. The building dates to 1973, and the property is zoned S1.
E Ridgeway Avenue records 9,600 ADT per day. Waterloo West High School, Mercy One, and restaurants are nearby.
E Ridgeway Avenue records 9,600 ADT per day. Waterloo West High School, Mercy One, and restaurants are nearby.
Key Highlights
- 2,198 square feet of medical office space
- Six private offices and a conference room
- Potential to create a waiting area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,395
Suggested Prices Based on Cap Rates
Cap Rate 5%
$287,900
$287.9K
Cap Rate 7%
$205,643
$205.6K
Cap Rate 9%
$159,944
$159.9K
Market Conditions
NOI Build-Up for 2,198 SF
Gross rent
$25.3K $11.52/SF
− Vacancy
−$6.1K −$2.79/SF
EGI
$19.2K $8.73/SF
− OpEx
−$4.8K −$2.18/SF
NOI
$14.4K $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 Rate 5%
$287,900
Cap Rate 7%
$205,643
Cap Rate 9%
$159,944
Alternative Uses
Best Use
Healthcare Medical
$296.7K
$259.6K – $346.2K
NOI $20,771 @ 7.0% cap · market cap 159,776.92%
Second Best
Office B
$205.6K
$179.9K – $239.9K
NOI $14,395 @ 7.0% cap · market cap 110,730.77%
Theoretical Best
Mixed Use
$2.76M
$2.41M – $3.21M
NOI $192,875 @ 7.0% cap · market cap 1,483,653.85%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Under-served
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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Six private offices and a conference room provide a defined layout for professional services.
Where is this medical office space located?
The property is located at 346 E Ridgeway Avenue Waterloo, IA.
What are key features of this property?
This property features: 2,198 square feet of medical office space; Six private offices and a conference room; Potential to create a waiting area
