3727-3731 University Ave Waterloo, IA 50701
- Retail properties
- 66,345 SF
- 7.24 lot acres
Current Use by Public Records
- Emily Richter A.R.N.P. / Hospice
- Amy Thurm A.R.N.P. / Hospice
- Kristen Grapp A.R.N.P. / Hospice
Property Details for 3727-3731 University Ave
- Year built
- 1966
- Lot size
- 7.24 lot acres
- Property size
- 66,345 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional Class A, 66,345 square foot executive office complex in Waterloo, IA, presents a compelling investment opportunity. Located at 3727-3731 University Ave, this stabilized property boasts a 7.25% cap rate and a strong NOI of $598,541. The property features four tenants with long-term NNN leases (12 years remaining), including a regional hospital and a top-performing trampoline park, ensuring consistent income. The building, originally constructed in 1966 and extensively renovated in 2018, offers hospital-grade construction throughout. One tenant, an appliance retailer, has occupied the space for over two decades. The property sits on a 7.24-acre lot, including a one-acre out-lot with significant development potential for increased revenue. The high-traffic location on University Avenue provides excellent visibility and accessibility, serving both Waterloo and Cedar Falls. This multi-tenant property offers a diverse and resilient income stream, making it an ideal investment for discerning buyers seeking a high-performing asset in a prime location. The property is zoned commercial and offers 100% occupancy with credit-rated tenants. The asking price is $8,357,558, translating to $125.97 per square foot.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waterloo
- County
- Black Hawk
- State
- Iowa
- Longitude
- -92.4004
- Latitude
- 42.5026
