421 Main Street, Cedar Falls, IA 50613
Fully equipped hospitality space with installed draft system, walk-in refrigeration, and updated HVAC.
- Added:
- Apr 1, 2026
- Days on Market:
- 98
- Last Refresh:
- Jul 1 at 5:38 am
Property Features for 421 Main Street
General Information
- Standard status
- Active
- Size
- 3,808 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1967
Listing office Pinnacle Realty (319) 651-9617
Listing date Apr 1, 2026
Source Pinnaclerealtyia
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HighLights
- 3,808 SF hospitality space on a 0.13‑acre lot
- Installed Micromatic draft beer system plus walk‑in beer cooler and walk‑in cooler/freezer combination
- Includes 15 mounted televisions, professionally installed sound system, and comprehensive security system
- Updated HVAC systems completed in February 2026 by Bergan
- Built in 1967
Overview
Located at 421 Main Street in Cedar Falls, the property benefits from a high-traffic downtown corridor and strong visibility. The offering also notes excellent downtown parking availability and a dynamic surrounding tenant mix.
Recent capital improvements have been completed with updated HVAC systems finished in February 2026 by Bergan. With the on-site entertainment, refrigeration, and utility infrastructure already established, the property can support a tenant looking to operate as a bar, pub, or restaurant with minimal equipment ramp-up. For buyers or operators evaluating a hospitality concept, the existing systems—including draft beer and multiple walk-in units—help define the building’s practical functionality for service-focused use.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.9k | $15.48 |
| − Vacancy | −$5.0k | −$1.31 |
| EGI | $54.0k | $14.17 |
| − OpEx | −$13.5k | −$3.54 |
| NOI | $40.5k | $10.63 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Berk's Main Street Pub — 207 Main St, Cedar Falls, IA 50613
- Peppers Grill & Sports Pub — 620 E 18th St, Cedar Falls, IA 50613
- Mulligan's Brick Oven Grill & Pub — 205 E 18th St, Cedar Falls, IA 50613
- Panther Lounge — 210 E 18th St, Cedar Falls, IA 50613
- Whiskey Road Tavern & Grill — 402 Main St, Cedar Falls, IA 50613
Location Insight
- Map
- Local Demand
- City
- Cedar Falls
- County
- Black Hawk
- State
- Iowa
- Longitude
- -92.445908
- Latitude
- 42.53473
