Third-Level Office Suite with Conference
For Sale
Contact for pricing
511 E 5th Street, Waterloo, IA 50703
Efficient third-floor office suite with multiple private offices, dedicated conference space, and elevator access.
Property Size54,000 SF
Price / SF$0.00
Days on Market333
Property Features for 511 E 5th Street
General Information
Standard status
Active
Size
54,000 SF
Property subtype
Commercial
Zoning
C-2
Taxes and HOA fees
Annual Taxes
$162,344
Amenities
2.14
54000
Building Details
Building Size
54,000 SF
Year Built
1915
Listing Agency:
RE/MAX Concepts - Cedar Falls
(319) 393-0900
Listed By:
Emmaleigh Buck
(319) 899-2536
Source:
Pinnaclerealtyia
Added: Nov 24, 2025
Changed: Oct 19
Last Checked: Oct 23 at 5:04AM
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 RE/MAX Concepts - Cedar Falls
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Investment Insights
Based on property information with market context.
This third-level office suite is located in the KWWL Building and offers a highly functional layout with 18+ private offices. The space includes a dedicated conference room and large windows that bring in natural light. Elevator access is available for convenient day-to-day use, supporting a professional office environment for a range of administrative and services-oriented tenants.
The suite is positioned in downtown Waterloo at 511 E 5th Street. Tenant convenience is supported by a large parking lot associated with the building, and the property is described as providing walkable access to restaurants and other downtown amenities.
For organizations seeking established office configuration, the combination of private offices and a dedicated conference room supports team-based work and client meetings. The elevator-served third-floor location is well suited to businesses that want a focused office setup in a landmark building setting, with parking available for staff and visitors.
The suite is positioned in downtown Waterloo at 511 E 5th Street. Tenant convenience is supported by a large parking lot associated with the building, and the property is described as providing walkable access to restaurants and other downtown amenities.
For organizations seeking established office configuration, the combination of private offices and a dedicated conference room supports team-based work and client meetings. The elevator-served third-floor location is well suited to businesses that want a focused office setup in a landmark building setting, with parking available for staff and visitors.
Key Highlights
- 3rd‑floor office suite in the iconic KWWL Building in downtown Waterloo
- 5,069 SF suite with an efficient layout plus 18+ private offices
- Includes a dedicated conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,197
Suggested Prices Based on Cap Rates
Cap Rate 5%
$663,940
$663.9K
Cap Rate 7%
$474,243
$474.2K
Cap Rate 9%
$368,856
$368.9K
Market Conditions
NOI Build-Up for 5,069 SF
Gross rent
$58.4K $11.52/SF
− Vacancy
−$14.1K −$2.79/SF
EGI
$44.3K $8.73/SF
− OpEx
−$11.1K −$2.18/SF
NOI
$33.2K $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%
$663,940
Cap Rate 7%
$474,243
Cap Rate 9%
$368,856
Alternative Uses
Best Use
Office B
$474.2K
$415.0K – $553.3K
NOI $33,197 @ 7.0% cap · market cap 414,962.50%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$6.35M
$5.56M – $7.41M
NOI $444,805 @ 7.0% cap · market cap 5,560,062.50%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Efficient third-floor office suite with multiple private offices, dedicated conference space, and elevator access.
Where is this office unit located?
The property is located at 511 E 5th Street Waterloo, IA.
What are key features of this property?
This property features: 3rd‑floor office suite in the iconic KWWL Building in downtown Waterloo; 5,069 SF suite with an efficient layout plus 18+ private offices; Includes a dedicated conference room
