Heated Shop with
For Sale
$115,000
440 W Parker Street, Waterloo, IA 50703
Heated shop-and-office building with two 12-foot overhead doors, on-site bathroom, and a spacious parking lot.
Property Size2,016 SF
Price / SF$57.04
Days on Market182
Property Features for 440 W Parker Street
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Commercial
Zoning
M2
Taxes and HOA fees
Annual Taxes
$3,227
Amenities
0.148
2016
Building Details
Building Size
2,016 SF
Year Built
1947
Listing Agency:
Miehe Commercial Real Estate
(319) 393-0900
Listed By:
Ali Rashid
(319) 333-2886
Source:
Pinnaclerealtyia
Added: Mar 11
Changed: Sep 7
Last Checked: Sep 8 at 5:11AM
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 Miehe Commercial Real Estate
Investment Insights
Based on property information with market context.
This heated shop and office property offers a practical mix of work space and a dedicated office area. The building features durable steel exterior construction and two 12-foot overhead doors for straightforward loading, unloading, and day-to-day operations. An on-site bathroom adds convenience for staff and visitors.
Located at 440 W Parker St in Waterloo, Iowa, the property is described as being in a convenient location near major roadways, supporting easy access for business operations.
The configuration can support a range of functional uses, including retail, workshop, storage, trades, and light industrial activity, with parking on site to accommodate employees, customers, and equipment. The building is presented as well-maintained with minimal upkeep.
Located at 440 W Parker St in Waterloo, Iowa, the property is described as being in a convenient location near major roadways, supporting easy access for business operations.
The configuration can support a range of functional uses, including retail, workshop, storage, trades, and light industrial activity, with parking on site to accommodate employees, customers, and equipment. The building is presented as well-maintained with minimal upkeep.
Key Highlights
- Heated shop‑and‑office building built in 1947
- Steel‑exterior commercial building with office space on site
- Two 12‑foot overhead doors for loading, unloading, and daily operations
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
$9,044
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
7.86%
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%
$180,880
$180.9K
Cap Rate 7%
$129,200
$129.2K
Cap Rate 9%
$100,489
$100.5K
Market Conditions
NOI Build-Up for 2,016 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
$14.8K $7.32/SF
− Vacancy
−$843 −$0.42/SF
EGI
$13.9K $6.90/SF
− OpEx
−$4.9K −$2.42/SF
NOI
$9.0K $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%
$180,880
Cap Rate 7%
$129,200
Cap Rate 9%
$100,489
Alternative Uses
Best Use
Warehouse
$2.04M
$1.78M – $2.38M
NOI $142,703 @ 7.0% cap · market cap 124.09%
Second Best
Industrial
$1.68M
$1.47M – $1.96M
NOI $117,520 @ 7.0% cap · market cap 102.19%
Theoretical Best
Mixed Use
$2.53M
$2.21M – $2.95M
NOI $176,904 @ 7.0% cap · market cap 153.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 50703, IA
18,913
Population
8,705
Households
2.2
Avg Household Size
38
Median Age
13%
College-Educated
87%
High-School Grad
93.2 sq mi
ZIP Area
203
Density / Sq Mi
$49,412
Median Household Income
$33,105
Median Earnings
$926
Median Rent
$92,500
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 - Heated shop-and-office building with two 12-foot overhead doors, on-site bathroom, and a spacious parking lot.
Where is this flex space located?
The property is located at 440 W Parker Street Waterloo, IA.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: Heated shop‑and‑office building built in 1947; Steel‑exterior commercial building with office space on site; Two 12‑foot overhead doors for loading, unloading, and daily operations
