Multi-Tenant Strip
3620-3628 Kimball Avenue, Waterloo, IA 50702
For Sale
$1,500,000
Multi-tenant retail property with long-term leases, street frontage, and C-1,C-Z zoning.
Property Size6,720 SF
Price / SF$223.21
Days on Market96
Property Features for 3620-3628 Kimball Avenue
General Information
Standard status
Size
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Amenities
Inside Lot,City Street,Frontage Road
0.79
6720
Building Details
Building Size
Year Built
Stories
Tenancy
Listing Agency:
Fischels Commercial Group
(319) 234-5000
Listed By:
Christopher Fischels · License IA B44779000
(319) 830-5000
Source:
Pinnaclerealtyia
Added: Aug 6
Changed: Nov 7
Last Checked: Nov 8 at 4:23AM
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 Fischels Commercial Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multi-tenant strip center contains 6,720 square feet and was built in 1990. The property includes retail space configured for multiple occupants, with long-term leases in place and remaining vacancy identified within the center. Its commercial zoning designations are C-1 and C-Z.
Located at 3620–3628 Kimball Avenue in Waterloo, the property fronts a city street and frontage road. The site is classified as an inside lot and provides a retail setting for multiple commercial tenants. The existing tenant mix and lease structure support continued multi-tenant use, while the available space provides additional leasing capacity within the property.
Located at 3620–3628 Kimball Avenue in Waterloo, the property fronts a city street and frontage road. The site is classified as an inside lot and provides a retail setting for multiple commercial tenants. The existing tenant mix and lease structure support continued multi-tenant use, while the available space provides additional leasing capacity within the property.
Key Highlights
- 6,720‑square‑foot multi‑tenant strip center
- Built in 1990
- C‑1,C‑Z zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,672
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,333,440
$1.3M
Cap Rate 7%
$952,457
$952.5K
Cap Rate 9%
$740,800
$740.8K
Market Conditions
NOI Build-Up for 6,720 SF
Gross rent
$104.0K $15.48/SF
− Vacancy
−$8.8K −$1.31/SF
EGI
$95.2K $14.17/SF
− OpEx
−$28.6K −$4.25/SF
NOI
$66.7K $9.92/SF
Area
Black Hawk County, IA
Vacancy
8.44%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,333,440
Cap Rate 7%
$952,457
Cap Rate 9%
$740,800
Alternative Uses
Best Use
Retail
$952.5K
$833.4K – $1.11M
NOI $66,672 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,083 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
691
Businesses Nearby
252k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 32%
Dining 31%
Shops & Services 28%
Groceries 8%
Sam's Club
Superstores
79,678 visits/mo
0.5 miles
Culver's
Dining
25,660 visits/mo
0.4 miles
Sam's Club Gas Station
Shops & Services
22,821 visits/mo
0.4 miles
McDonald's
Dining
22,637 visits/mo
0.1 miles
Fareway
Groceries
19,719 visits/mo
0.0 miles
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 Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - Multi-tenant retail property with long-term leases, street frontage, and C-1,C-Z zoning.
Where is this strip mall located?
The property is located at 3620-3628 Kimball Avenue Waterloo, IA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,720‑square‑foot multi‑tenant strip center; Built in 1990; C‑1,C‑Z zoning
