Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1027 Peoples Sq Waterloo, IA 50702

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $35 SF/Yr ($13,125 /Mo)

    New 2023 construction, 2 suites available.

    Lot size:
    4,500 SF

    Property Features for 1027 Peoples Sq

    General Information

    Property type
    Medical space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,500 SF
    Total Rate
    13125

    Building Details

    Year Built
    2023
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 1027 Peoples Sq, Waterloo, IA 50702 Contact us
    Unit People's Square Space 1

    $35 /Mo

    Size
    1,800 SF
    Contact us
    Unit Available Space 2

    $35 /Mo

    Size
    3,000 SF
    Contact us

    We can help!

    Listing Contact
    Jim Benda
    Jim Benda

    Listing Agency: Lockard Listing Agent: Jim Benda

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional retail property, located at 1027 Peoples Square in Waterloo, Iowa, presents a unique investment opportunity. Situated on a prominent 0.5-acre lot at a busy Waterloo intersection with convenient access to Kimball Avenue via a newly constructed access point, this single-story building offers a total of 4,500 square feet. The building, completed in the summer of 2023, features two suites, each offering flexibility for various uses. Currently, 2,486 square feet are available for lease, with a minimum divisible space of 2,486 square feet and a maximum contiguous space of 2,486 square feet. The property is zoned C1 and is located in Black Hawk County, Iowa, with a zip code of 50702. Ample parking is provided with 35 spaces. The property boasts a modern design and efficient layout, ideal for medical or office tenants. Annual property taxes are $7 per square foot. This prime location offers excellent visibility and accessibility, making it an attractive option for businesses seeking a high-traffic area in Waterloo. Don't miss this chance to secure a space in this brand-new, strategically located retail center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterloo
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.3570224
    Latitude
    42.4579349

    Nearby Similar for Lease

    • $6,500 /Mo
      192,971 SF

      Versatile Commercial Property in Waterloo

      31,721 SF commercial space with warehouse, shop, and office.
      3130 W Shaulis-Entire Property Lease, Waterloo, IA 50701
      View Details
    • $5,000 /Mo
      164,221 SF

      Waterloo Industrial Space with Shop

      Industrial space with shop, renovated office, and ample yard.
      2612 Texas St, Waterloo, IA 50702
      View Details
    • $4,250 /Mo
      Pending

      Restaurant/Bar Space in Downtown Waterloo

      Prime downtown location with ready-to-go kitchen and flexible layout.
      225-229 E 4Th St, Waterloo, IA 50703
      View Details
    • $2,500 /Mo
      192,971 SF

      Waterloo Commercial Property with Shop

      Highly visible commercial property with showroom, offices, and heated shop.
      3130 W Shaulis-Office & Shop Lease, Waterloo, IA 50701
      View Details
    • $2,500 /Mo
      192,971 SF

      Waterloo Warehouse with Paint Booth

      Commercial warehouse with paint booth for lease in Waterloo.
      3130 W Shaulis- Warehouse Lease, Waterloo, IA 50701
      View Details
    • $600 /Mo
      40,511 SF

      Affordable Contractor Bay in Waterloo

      850 SF heated/cooled space, ideal for various business uses.
      1825 Black Hawk St, Waterloo, IA 50702
      View Details
    • New
      $1,200 /Mo
      3,485 SF

      Waterloo Commercial Space For Rent

      Warehouse/commercial space with updated office in high-traffic location.
      110 Vinton St, Waterloo, IA 50703
      View Details
    • Contact for pricing
      8,459 SF

      Waterloo Retail Space: Prime Location

      8,459 SF Retail Space - Available Now
      3551 University Ave, Waterloo, IA 50701
      View Details
    • $6 SF/Yr
      51,900 SF

      Prime Waterloo Industrial Space

      51,900 SF Flex Space, 6 Acres
      3530 Marnie Ave, Waterloo, IA 50701
      View Details
    • $216 SF/Yr
      6,720 SF

      Waterloo Retail Space - Kimball Ave

      Prime Retail Space, Waterloo, IA. High Visibility.
      3626 Kimball Ave, Waterloo, IA 50702
      View Details
    • $8 SF/Yr
      80,000 SF

      Waterloo Executive Office Space

      19,200 SF Available in Waterloo, IA
      3563 University Ave, Waterloo, IA 50701
      View Details
    • Contact for pricing
      18,120 SF

      Retail Suites and Outlots Available

      Retail spaces in Cedar Valley's retail district, 1,800-18,120 SF.
      2060 Sovia Dr, Waterloo, IA
      View Details

    FAQs

    What type of property is this?
    Medical space - New 2023 construction, 2 suites available.
    Where is this medical space located?
    The property is located at 1027 Peoples Sq Waterloo, IA.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: 2024 Building Exterior Renovation.; 2023 New Parking Lot Construction.; 2023 New Kimball Avenue Access Point.
    Request Owner's contact information
    1027 Peoples Sq Waterloo, IA 50702
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1027 Peoples Sq
    Waterloo, IA 50702
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1027 Peoples Sq Waterloo, IA 50702
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jim Benda
    Jim Benda
    Real Estate License ID: B33465
    Learn more
    Google sign-in failed. Please try again or use another login method.