Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    604 Lafayette St Waterloo, IA 50703

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Second-story office space with downtown views and parking.

    Type:Office
    Added:
    May 8, 2024
    Days on Market:
    722
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 604 Lafayette St

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 604 Lafayette St Contact us

    $3 /Mo

    Size
    4,000 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Matt Miehe

    Listing agent Matt Miehe License #B58183000

    Listing office Miehe Commercial Real Estate

    Listing date May 8, 2024

    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 Miehe Commercial Real Estate

    Overview

    Downtown Waterloo Office Space Available

    This second-story office space offers views of Downtown Waterloo. It is situated at the corner of E. Fourth and Lafayette Streets, with access from the rear Main Street Waterloo parking lot and elevator access. The layout includes several private offices, approximately six to seven, along with a large board room or training center, a reception area, a kitchenette, and bathrooms. Parking is available through Main Street Waterloo’s parking lot. The property is professionally managed. The gross lease rate includes estimated average utilities of $259 per month for electric, gas, water, sewer, and garbage.
    Location Intelligence

    Current Use by Public Records

    Amber Lacina Physician Olivia Hickman Counselor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterloo
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.334363
    Latitude
    42.498332

    Nearby Similar for Lease

    • $600/Mo

      Affordable Contractor Bay in Waterloo

      850 SF heated/cooled space, ideal for various business uses.
      1825 Black Hawk Street unit: 8, Waterloo, IA 50702
      View Details
    • $12 SF/Yr

      Versatile Commercial Space in Waterloo

      High-visibility Waterloo corner property with office and retail space.
      1118 Ansborough Avenue, Waterloo, IA 50701
      View Details
    • $5 SF/Yr

      Waterloo Industrial Space For Lease

      Versatile industrial property in Waterloo's established industrial corridor.
      3050 Wagner Road, Waterloo, IA 50703
      View Details
    • $1,200/Mo

      Waterloo Commercial Space For Rent

      Warehouse/commercial space with updated office in high-traffic location.
      110 Vinton Street, Waterloo, IA 50703
      View Details
    • $5,000/Mo

      Waterloo Industrial Space with Shop

      Industrial space with shop, renovated office, and ample yard.
      2612 Texas Street, Waterloo, IA 50702
      View Details
    • $1,100/Mo

      Downtown Waterloo Renovated Office/Retail Space

      Newly renovated office/retail space in Downtown Waterloo.
      614 Mulberry Street Suite B, Waterloo, IA 50703
      View Details
    • Contact for pricing

      Historic Building Retail/Office/Restaurant Space

      First floor space suitable for retail, office, or restaurant.
      209 West 5th Street, Waterloo, IA, 50701
      View Details
    • $17 SF/Yr

      Office Space with Multiple Rooms

      Office space featuring multiple private and conference rooms for rent.
      360 Westfield Avenue, Waterloo, IA, 50701
      View Details
    • $5 SF/Yr

      Former Hancock Fabrics Retail Store

      17,422 SF retail space with high visibility and traffic.
      2830 University Avenue, Waterloo, IA 50701
      View Details
    • Contact for pricing

      Former University Training and Classroom

      Former Upper Iowa University training and classroom space available for rent.
      3563 University Avenue, Waterloo, IA 50701
      View Details
    • Contact for pricing

      Industrial Single Tenant Space

      Industrial space available for single tenant occupancy.
      81 Sycamore St, Waterloo, IA 50703
      View Details
    • Contact for pricing

      Commercial Space for Rent

      Commercial space available for lease at $1,400 per month.
      2829 University Ave, Waterloo, IA 50701
      View Details

    FAQs

    What type of property is this?
    Office units - Second-story office space with downtown views and parking.
    Where is this office units located?
    The property is located at 604 Lafayette St Waterloo, IA.
    What are key features of this property?
    This property features: Prime location with beautiful views of Downtown Waterloo.; Convenient access from Main Street Waterloo parking lot and elevator.; Includes several private offices (6‑7) and a large board room/training center.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matt Miehe
    Real Estate License ID: B58183000
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!