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    3280 University Ave Waterloo, IA 50701

    For Lease
    Contact for pricing

    Prime Retail Space, 5008 sq ft, Iowa.

    Lot size:
    5,008 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 5,008-square-foot retail space, formerly a Perkins Restaurant, presents a unique investment opportunity in Waterloo, Iowa. Located at 3280 University Ave, this single-tenant property offers a turnkey solution for a variety of restaurant or commercial ventures. Built in 1978, the building is situated in Black Hawk County, Iowa, zip code 50701, and boasts a convenient location with high visibility. The entire 5,008 square feet is currently vacant, providing immediate occupancy for a new business. The property's existing infrastructure offers significant cost savings for potential buyers or lessees, eliminating the need for extensive renovations or build-outs. This presents a rare chance to acquire a well-positioned commercial space ready for immediate operation. The property's history as a successful restaurant suggests strong potential for continued success in the food service industry or other suitable commercial uses. Its location in Waterloo, Iowa, offers access to a substantial customer base and benefits from existing infrastructure and utilities. Serious inquiries are encouraged to explore the possibilities of this prime commercial real estate opportunity. The property is available for sale or lease.

    Property Features for 3280 University Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,008 SF

    Building Details

    Year Built
    1978

    Unit(s) available at that property

    Space
    Available Space
    Size
    5,008 SF

    HighLights

    • 5,008‑square‑foot retail space available for sale or lease in Waterloo, IA.
    • Located at 3280 University Ave, Waterloo, IA 50701.
    • Turnkey property, formerly a Perkins Restaurant, currently vacant.
    • High visibility location with existing infrastructure minimizing renovation costs.
    • Strong potential for restaurant or other commercial uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mike's Diner Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    -92.3895606
    Latitude
    42.5019714

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    FAQs

    What type of property is this?
    Retail property - Prime Retail Space, 5008 sq ft, Iowa.
    Where is this retail property located?
    The property is located at 3280 University Ave Waterloo, IA.
    What are key features of this property?
    This property features: 5,008-square-foot retail space available for sale or lease in Waterloo, IA.; Located at 3280 University Ave, Waterloo, IA 50701.; Turnkey property, formerly a Perkins Restaurant, currently vacant.
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    Realmo Value Estimation

    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.

    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.

    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
    3280 University Ave Waterloo, IA 50701
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