623 BROADWAY ST, Waterloo, IA 50703
Well-maintained laundromat building with commercial equipment, customer-focused layout, and signage on a high-visibility corridor.
- Added:
- Jun 10, 2026
- Days on Market:
- 15
- Last Refresh:
- Jun 20 at 9:49 am
Property Features for 623 BROADWAY ST
General Information
- Standard status
- Active
- Size
- 3,492 SF
- Property subtype
- Retail, Business for Sale
Building Details
- Year Built
- 1987
Listing agent Chris Fischels License #IA B44779000
Listing office The Fischels Group (319) 234-5000
Listing date Jun 10, 2026
Source Crexi
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 The Fischels Group
HighLights
- 3,492 sq ft well‑maintained laundromat building built in 1987
- Sale includes the real estate plus a fully operational laundromat business
- Includes commercial washers and dryers (high‑end commercial equipment noted)
- Customer‑focused layout with spacious folding stations
- On a high‑visibility corridor with convenient parking and prominent signage
Overview
Located at 623 BROADWAY ST in Waterloo, IA, the property sits on a high-visibility corridor with convenient parking and prominent signage. The site’s street presence and on-site parking are key considerations for retail and service tenants where walk-in and repeat customer convenience matter.
For buyers seeking an established laundromat format, this offering provides a ready-to-operate facility with the core equipment already in place. The modern, customer-oriented layout, along with the commercial-grade laundry system and dedicated folding areas, supports day-to-day service without requiring immediate major interior reconfiguration. It may also appeal to operator-investors looking to acquire a turnkey service business with a retail storefront setting and visible branding.
Local Financial Insights For 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 | $54.1k | $15.48 |
| − Vacancy | −$4.6k | −$1.31 |
| EGI | $49.5k | $14.17 |
| − OpEx | −$14.8k | −$4.25 |
| NOI | $34.6k | $9.92 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Waterloo
- County
- Black Hawk
- State
- Iowa
- Longitude
- -92.345489
- Latitude
- 42.51192
