Modern Service Building For
For Sale
$420,000
306 W 11th Street, Waterloo, IA 50702
Service building with four bays, office, and waiting area.
Property Size2,380 SF
Lot Size0.36 Acres
Price / SF$176.47
Days on Market636
Property Features for 306 W 11th Street
General Information
Standard status
Active
Size
2,380 SF
Lot size
0.36 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$10,489
Building Details
Year Built
2010
Listing Agency:
AWRE - Commercial & Development
(319) 480-4213
Listed By:
Blake Keating · License #S7149200
(319) 480-4213
Source:
Exitrealty
Added: Nov 11, 2024
Changed: Aug 8
Last Checked: Aug 8 at 5:17AM
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 AWRE - Commercial & Development
Investment Insights
Based on property information with market context.
This modern service building is located one block from Hwy 218. The facility includes four bays, an office space, and a waiting area. It is equipped with two lifts and an air compressor. Ample parking is available. The property size is 2380 square feet.
Key Highlights
- Conveniently located one block off Hwy 218
- Features four spacious bays for maximum efficiency
- Includes comfortable office space and waiting area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,613
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$472,260
$472.3K
Cap Rate 7%
$337,329
$337.3K
Cap Rate 9%
$262,367
$262.4K
Market Conditions
NOI Build-Up for 2,380 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$36.8K $15.48/SF
− Vacancy
−$3.1K −$1.31/SF
EGI
$33.7K $14.17/SF
− OpEx
−$10.1K −$4.25/SF
NOI
$23.6K $9.92/SF
Area
Black Hawk County, IA
Vacancy
8.44%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$472,260
Cap Rate 7%
$337,329
Cap Rate 9%
$262,367
Alternative Uses
Best Use
Industrial
$1.98M
$1.73M – $2.31M
NOI $138,739 @ 7.0% cap · market cap 33.03%
Second Best
Retail
$337.3K
$295.2K – $393.6K
NOI $23,613 @ 7.0% cap · market cap 5.62%
Theoretical Best
Mixed Use
$2.98M
$2.61M – $3.48M
NOI $208,845 @ 7.0% cap · market cap 49.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
43k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Hotels & Casinos 8%
Home Improvements & Furnishings 2%
Kwik Trip
Shops & Services
31,406 visits/mo
0.1 miles
Dollar General
Shops & Services
5,711 visits/mo
0.5 miles
Best Western Plus Executive Residency Waterloo & Cedar Falls
Hotels & Casinos
2,624 visits/mo
0.5 miles
Firestone Complete Auto Care
Shops & Services
1,554 visits/mo
0.4 miles
Econo Lodge Inn & Suites
Hotels & Casinos
922 visits/mo
0.5 miles
Demographics for 50702, IA
20,447
Population
9,722
Households
2.1
Avg Household Size
37
Median Age
21%
College-Educated
89%
High-School Grad
9.8 sq mi
ZIP Area
2,086
Density / Sq Mi
$59,784
Median Household Income
$38,826
Median Earnings
$926
Median Rent
$145,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Iowa Automotive Recyclers — 2214 Regal Ave, Waterloo, IA 50702
- Black Hawk Customs, LLC — 439 James St, Waterloo, IA 50702
- 2Step Auto Care — 823 Bertch Ave, Waterloo, IA 50702
- Nighthawk Truck & Trailer Repair — 1112 Byron Ave, Waterloo, IA 50702
- Liberty Car Care — 429 La Porte Rd, Waterloo, IA 50702
Frequently Asked Questions
What type of property is this?
Auto shop - Service building with four bays, office, and waiting area.
Where is this auto shop located?
The property is located at 306 W 11th Street Waterloo, IA.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Conveniently located one block off Hwy 218; Features **four spacious bays for maximum efficiency**; Includes comfortable office space and waiting area
