Medical Office Space with Flexible
For Sale
Contact for pricing
945 Tower Park, Waterloo, IA 50701
Existing exam rooms, private offices, and reception space support medical and professional operations.
Property Size12,493 SF
Lot Size2.48 Acres
Price / SF$0.00
Days on Market194
Property Features for 945 Tower Park
General Information
Standard status
Active
Size
12,493 SF
Class
Class A
Lot size
2.48 Acres
Property subtype
Commercial
Zoning
C-P
Lease Type
Net
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$74,148
Amenities
2.48
12493
Building Details
Building Size
12,493 SF
Year Built
2011
Listing Agency:
Urban Acres Real Estate
(319) 393-0900
Listed By:
Kyle Steele
(319) 981-2378
Source:
Pinnaclerealtyia
Added: Apr 7
Changed: Oct 15
Last Checked: Oct 14 at 8:11PM
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 12,493-square-foot medical office property was built in 2011 and occupies approximately 2.48 acres. The interior includes private offices, exam rooms, and a designated waiting and reception area. Its configuration can support either a single occupant or a multi-tenant arrangement, with potential division into two- or three-suite layouts for qualified users.
The property is located within a professionally maintained business park near Highway 20 in Waterloo. On-site parking serves staff and patients, while the location provides access to a primary commercial corridor. C-P zoning is in place, and the existing improvements are suited to medical and professional office operations.
The property is located within a professionally maintained business park near Highway 20 in Waterloo. On-site parking serves staff and patients, while the location provides access to a primary commercial corridor. C-P zoning is in place, and the existing improvements are suited to medical and professional office operations.
Key Highlights
- 12,493‑square‑foot medical office property on approximately 2.48 acres
- Built in 2011
- Private offices, exam rooms, and dedicated waiting/reception area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,818
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,636,360
$1.6M
Cap Rate 7%
$1,168,829
$1.2M
Cap Rate 9%
$909,089
$909.1K
Market Conditions
NOI Build-Up for 12,493 SF
Gross rent
$143.9K $11.52/SF
− Vacancy
−$34.8K −$2.79/SF
EGI
$109.1K $8.73/SF
− OpEx
−$27.3K −$2.18/SF
NOI
$81.8K $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%
$1,636,360
Cap Rate 7%
$1,168,829
Cap Rate 9%
$909,089
Alternative Uses
Best Use
Healthcare Medical
$1.69M
$1.48M – $1.97M
NOI $118,059 @ 7.0% cap · market cap 787,060.00%
Second Best
Office B
$1.17M
$1.02M – $1.36M
NOI $81,818 @ 7.0% cap · market cap 545,453.33%
Theoretical Best
Mixed Use
$15.66M
$13.70M – $18.27M
NOI $1,096,261 @ 7.0% cap · market cap 7,308,406.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Balanced
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing exam rooms, private offices, and reception space support medical and professional operations.
Where is this medical office space located?
The property is located at 945 Tower Park Waterloo, IA.
What are key features of this property?
This property features: 12,493‑square‑foot medical office property on approximately 2.48 acres; Built in 2011; Private offices, exam rooms, and dedicated waiting/reception area
