Commercial Real Estate Market in Waverly, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
48 active listings and 839 off-market properties in Waverly, IA. Commercial property asks $164/SF to buy and $13.30/SF/Yr to lease.
Market Trends
Waverly, IA spans 128.6 square miles in Bremer County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Waverly, IA runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Waverly, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Waverly, IA runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Waverly, IA runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 44.6%
- Commercial 30.4%
- Open space 7.7%
- Industrial 6.7%
- Residential 6.4%
- Planned_development 4.3%
Largest Zones share of zoned land by district
Agricultural District
Residential District
Environmentally Sensitive Protected District
Commercial District
Multiple Family Resident District
Commercial District (C-2)
REQUIREMENTS. Uses permitted in the S-1 district shall include any use permitted in the C-2 and C-3 districts, and as limited by these districts; provided, however, the city council may consider any additional restrictions proposed by the owner. The lot area, lot frontage, and yard requirements of the
Market overview
Demographics & Economy
Waverly, IA has 12,789 residents in 5,053 households. Density runs 99 people per square mile. Median household income here is $82,950 and median gross rent $880 a month.
12,789
Population
5,053
Households
2.5
Avg Household Size
37
Median Age
41%
College-Educated
95%
High-School Grad
128.6 sq mi
ZIP Area
99
Density / Sq Mi
$82,950
Median Household Income
$39,065
Median Earnings
$880
Median Rent
$221,600
Median Home Value
Tools
Lease vs Buy Breakeven
At $13.30/SF/Yr lease vs $164/SF buy → buying wins if held > 2.2 years.
At a 8.1% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Horton | — | — |
| Bremer | — | — |
| Shell Rock | — | — |
| Denver | — | — |
Commercial property in Waverly, IA asks $164/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Waverly?
Commercial property in Waverly, IA asks an average of $164 per square foot. The 5 most recent recorded sales traded at a median of $79/SF, so asking sits 108% above the achieved median.
How much does it cost to lease commercial space in Waverly?
Asking lease rates in Waverly, IA average $13.30 per square foot per year.
Is it cheaper to lease or buy commercial space in Waverly?
Buying beats leasing in Waverly, IA if the property is held longer than 2.2 years, comparing $13.30/SF/Yr asking rent with $164/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Waverly market data come from?
Realmo compiles Waverly, IA figures from 7 recent recorded sales, 38 active sale listings, 10 active lease listings, 839 tracked off-market properties, the current Waverly zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 38 active for-sale and 10 active for-lease listings in Waverly, IA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 6,654 zoned acres across 15 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
