Downtown High-Rise Office
For Sale
Contact for pricing
531 Commercial Street, Waterloo, IA 50701
10th-floor office suite in the Historic Waterloo Building with adaptable layout for reception, private offices, and collaboration.
Property Size49,038 SF
Price / SF$0.86
Days on Market496
Property Features for 531 Commercial Street
General Information
Standard status
Active
Size
49,038 SF
Property subtype
Commercial
Zoning
C
Lease Type
Gross
Taxes and HOA fees
Annual Taxes
$40,553
Amenities
0.31
49038
Building Details
Building Size
49,038 SF
Year Built
1914
Stories
10
Listing Agency:
Urban Acres Real Estate
(319) 393-0900
Listed By:
Angie Buck
(319) 361-9457
Source:
Pinnaclerealtyia
Added: Jun 12, 2025
Changed: Oct 16
Last Checked: Oct 19 at 3:52AM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 10th-floor office suite is located within the Historic Waterloo Building and is set up for professional use with an adaptable interior layout. The space can support a reception area, private offices, and collaborative work areas, making it suitable for a range of office-based operations.
The property is positioned in downtown Waterloo and described as offering panoramic city skyline and riverfront views. The building provides secure access, and the lobby has been refreshed. The suite also benefits from an attached parking garage for tenant convenience.
For tenants and buyers seeking a downtown, high-rise office setting, this suite’s combination of secure entry, refreshed common areas, and flexible room planning supports both client-facing functions and day-to-day administrative needs. It is a straightforward fit for professional firms, creative agencies, or organizations that need a reception presence plus dedicated private space within a single suite.
The property is positioned in downtown Waterloo and described as offering panoramic city skyline and riverfront views. The building provides secure access, and the lobby has been refreshed. The suite also benefits from an attached parking garage for tenant convenience.
For tenants and buyers seeking a downtown, high-rise office setting, this suite’s combination of secure entry, refreshed common areas, and flexible room planning supports both client-facing functions and day-to-day administrative needs. It is a straightforward fit for professional firms, creative agencies, or organizations that need a reception presence plus dedicated private space within a single suite.
Key Highlights
- 10th‑floor office suite in the Historic Waterloo Building
- Adaptable layout with reception area, private offices, and collaborative workspaces
- Secure building access with an attached parking garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,734
Suggested Prices Based on Cap Rates
Cap Rate 5%
$274,680
$274.7K
Cap Rate 7%
$196,200
$196.2K
Cap Rate 9%
$152,600
$152.6K
Market Conditions
NOI Build-Up for 2,097 SF
Gross rent
$24.2K $11.52/SF
− Vacancy
−$5.8K −$2.79/SF
EGI
$18.3K $8.73/SF
− OpEx
−$4.6K −$2.18/SF
NOI
$13.7K $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%
$274,680
Cap Rate 7%
$196,200
Cap Rate 9%
$152,600
Alternative Uses
Best Use
Office B
$196.2K
$171.7K – $228.9K
NOI $13,734 @ 7.0% cap · market cap 763.00%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$2.63M
$2.30M – $3.07M
NOI $184,012 @ 7.0% cap · market cap 10,222.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,361
Businesses Nearby
Explore this area
Business Placement
Demographics for 50701, IA
29,806
Population
14,530
Households
2.1
Avg Household Size
39
Median Age
30%
College-Educated
95%
High-School Grad
79.1 sq mi
ZIP Area
377
Density / Sq Mi
$62,857
Median Household Income
$41,464
Median Earnings
$846
Median Rent
$183,400
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 - 10th-floor office suite in the Historic Waterloo Building with adaptable layout for reception, private offices, and collaboration.
Where is this office unit located?
The property is located at 531 Commercial Street Waterloo, IA.
What are key features of this property?
This property features: 10th‑floor office suite in the Historic Waterloo Building; Adaptable layout with reception area, private offices, and collaborative workspaces; Secure building access with an attached parking garage
