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    3810 University Ave Waterloo, IA 50701

    For Sale
    $4,500,000

    106,200 SF Vacant Retail Space, High Visibility

    Property size:
    106,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 106,200 square foot retail property, formerly a K-Mart, is available for $4,500,000. Located at 3810 University Ave, Waterloo, IA 50701, this vacant space presents a significant redevelopment opportunity. Situated on a fully reconstructed University Avenue, the property boasts high visibility and easy access, complemented by a large parking area. The C-2 zoning permits a variety of uses, including grocery stores, pharmacies, and restaurants, aligning with its previous commercial history. The 11.11-acre lot comprises three parcels, including the main building and an additional structure at the corner of University Avenue and Prospect Street. This prime location in Black Hawk County offers substantial potential for investors seeking a high-impact retail investment. The asking price of $4,500,000 translates to $42.37 per square foot. The property is offered on a NNN lease basis. This substantial property offers a unique chance to capitalize on a high-traffic location and create a thriving commercial venture. The expansive space and strategic location make it an ideal candidate for a variety of retail concepts. Don't miss this chance to acquire a significant retail asset in a rapidly developing area.

    Property Features for 3810 University Ave

    General Information

    Property type
    Restaurants
    Square Feet
    106,200 SF
    Lot Size
    483,952 SF

    HighLights

    • 106,200 SF retail building, formerly a K‑Mart, available for $4,500,000 ($42.37/SF).
    • Located at 3810 University Ave, Waterloo, IA 50701, on a fully reconstructed street with high visibility and ample parking.
    • 11.11‑acre lot (three parcels) with C‑2 zoning allowing various uses (grocery, pharmacy, restaurant).
    • NNN lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterloo
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.4009581
    Latitude
    42.5064331

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    FAQs

    What type of property is this?
    Restaurant - 106,200 SF Vacant Retail Space, High Visibility
    Where is this restaurant located?
    The property is located at 3810 University Ave Waterloo, IA.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: 106,200 SF retail building, formerly a K-Mart, available for $4,500,000 ($42.37/SF).; Located at 3810 University Ave, Waterloo, IA 50701, on a fully reconstructed street with high visibility and ample parking.; 11.11-acre lot (three parcels) with C-2 zoning allowing various uses (grocery, pharmacy, restaurant).
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    Waterloo, IA 50701
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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
    3810 University Ave Waterloo, IA 50701
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