Turnkey Updated Office
For Sale
Contact for pricing
517 Rhey St, Waterloo, IA 50703
Newly redone office suite with fresh updates, available for lease or sale at 517 Rhey St.
Property Size12,760 SF
Price / SF$0.76
Days on Market131
Property Features for 517 Rhey St
General Information
Standard status
Active
Size
12,760 SF
Property subtype
Commercial
Zoning
C1
Lease Type
Net
Taxes and HOA fees
Annual Taxes
$4,402
Amenities
1.743
12760
Building Details
Building Size
12,760 SF
Year Built
1946
Listing Agency:
Urban Acres Real Estate
(319) 393-0900
Listed By:
Star Horak
(319) 538-7671
Source:
Pinnaclerealtyia
Added: Jun 12
Changed: Oct 15
Last Checked: Oct 19 at 3:41AM
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 Urban Acres Real Estate
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Investment Insights
Based on property information with market context.
This newly redone office suite offers a clean, updated interior and is available for lease or possible sale. The space measures 655 sq. ft. and is presented with fresh improvements intended to support a straightforward move-in for the right business.
The property is located at 517 Rhey St in Waterloo, IA 50703. It is being marketed as suitable for a range of professional needs, as well as retail or service-based uses, depending on how the space will be configured and operated.
The property is located at 517 Rhey St in Waterloo, IA 50703. It is being marketed as suitable for a range of professional needs, as well as retail or service-based uses, depending on how the space will be configured and operated.
Key Highlights
- Newly redone 655 sq. ft. office suite available for lease or possible sale at 517 Rhey St.
- Fresh updates and a clean interior layout for a move‑in‑ready professional space.
- Built in 1946; 1.743‑acre lot with total building area of 12,760 SF.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,290
Suggested Prices Based on Cap Rates
Cap Rate 5%
$85,800
$85.8K
Cap Rate 7%
$61,286
$61.3K
Cap Rate 9%
$47,667
$47.7K
Market Conditions
NOI Build-Up for 655 SF
Gross rent
$7.5K $11.52/SF
− Vacancy
−$1.8K −$2.79/SF
EGI
$5.7K $8.73/SF
− OpEx
−$1.4K −$2.18/SF
NOI
$4.3K $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%
$85,800
Cap Rate 7%
$61,286
Cap Rate 9%
$47,667
Alternative Uses
Best Use
Office B
$61.3K
$53.6K – $71.5K
NOI $4,290 @ 7.0% cap · market cap 858.00%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$821.1K
$718.5K – $957.9K
NOI $57,476 @ 7.0% cap · market cap 11,495.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Newly redone office suite with fresh updates, available for lease or sale at 517 Rhey St.
Where is this office unit located?
The property is located at 517 Rhey St Waterloo, IA.
What are key features of this property?
This property features: Newly redone 655 sq. ft. office suite available for lease or possible sale at 517 Rhey St.; Fresh updates and a clean interior layout for a move‑in‑ready professional space.; Built in 1946; 1.743‑acre lot with total building area of 12,760 SF.
