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    Versatile Commercial Office Building Title is generated by Realmo AI

    7009 Nordic Drive, Cedar Falls, IA 50613

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    For Lease
    $550 /Mo

    COMMERCIAL - Cedar Falls, IA

    Type:Office
    Lot size:
    7.37 Acres
    Added:
    Aug 14, 2025
    Days on Market:
    275
    Last Refresh:
    May 15 at 12:06 am

    Property Features for 7009 Nordic Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    M-1
    Standard status
    Active
    APN
    891436328007
    Lot size
    7.37 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    CF INDUSTRIAL PARK PHASE XIV LOT 11 LOT 12 LOT 13 LOT 14
    Tax Annual Amount
    65770

    Building Details

    Year built
    2003

    We can help!

    Listing Contact
    Victoria Lockard
    Victoria Lockard

    Listing agent Victoria Lockard License #B6364900

    Listing office Lockard Realty Company 301 Washington St, Cedar Fallas, IA

    Listing date Aug 14, 2025

    MLS# 20253951

    Copyright © 2026 Northeast Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Highly accessible location just off Highway 58, the main thoroughfare of Cedar Falls.
    • Versatile, open‑concept suites adaptable for various uses (fitness, art, collaborative work).
    • Located in the sought‑after Cedar Falls Industrial Park.
    • Oversized parking lot.
    • Convenient elevator access.
    • Restrooms on both floors.

    Overview

    Located in the Cedar Falls Industrial Park, this multi-tenant commercial office building offers open-concept suites suitable for various uses. The property is situated off Highway 58, the main thoroughfare of Cedar Falls, providing accessibility and visibility. The building includes restrooms on both floors, elevator access, and an oversized parking lot. The available suites feature large, adaptable rooms, making them suitable for workout or fitness studios, aerobic or yoga classes, art studios, photography or videography spaces, or collaborative work environments. The property is surrounded by other businesses in a Cedar Falls location. The zoning is M-1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Allison's Dance Center Training Center Krickyfit Gym & Fitness Center Précision Nails Nail Salon

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Hair Salon Big Box & Wholesale Store Auto Repair Shop Nail Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Falls
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.448474
    Latitude
    42.474596

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    FAQs

    What type of property is this?
    Office units - Multi-tenant commercial office building in Cedar Falls Industrial Park.
    Where is this office units located?
    The property is located at 7009 Nordic Drive Cedar Falls, IA.
    What is the lease rate?
    The lease rate is $550 /Mo.
    What are key features of this property?
    This property features: Highly accessible location just off Highway 58, the main thoroughfare of Cedar Falls.; Versatile, open‑concept suites adaptable for various uses (fitness, art, collaborative work).; Located in the sought‑after Cedar Falls Industrial Park.
    (319) 504-4934
    We can help!
    Listing Contact
    Victoria Lockard
    Victoria Lockard
    Real Estate License ID: B6364900
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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