57 Tower Park DrWaterloo, IA 50701

Property Details for 57 Tower Park Dr

Year built

1997

Lot size

0.61 AC

Property size (Sq ft)

2,295 SF

Property type

Retail properties

Property subtype

Banks

APN

8813-10-103-003

APU

881310103003

Description

This exceptional 2,295 square foot single-tenant office space is available for lease at $30 per square foot, NNN. Located at 57 E Tower Park Dr., this property boasts a highly desirable location with exceptional visibility and high traffic volume. Built in 1997, the single-story building sits on a 0.61-acre lot and is zoned C-2. The space features three individual offices, a convenient breakroom, and an attractive lobby area. A significant advantage is the inclusion of a 1,008 square foot canopy area, perfectly suited for drive-through lanes. The previous tenant was a bank, making this space ideally suited for a similar financial institution or a business requiring a similar layout. The property offers a rare opportunity to secure a well-positioned, versatile office space in a high-demand area. No elevators are present in this single-story building. The property is suitable for traditional, executive, or creative office uses. This is a single-tenant occupancy. The building's total square footage is 2,295 square feet, and the entire space is currently vacant.

• CAP approach

  CAP return

  Valuation

  6%

  $555,340

  6.5%

  $512,622

  7%

  $476,006

• Comparable approach

  Method

  Valuation

  Relative Method

  $295,185

  Geo Method

  $295,185

• Alternative Use

  Use

  Valuation

  Residential

  $432,415

  Hospitality

  $396,090

  Educational

  $329,542

  Medical

  $340,876

  Retail

  $512,622

Location Insight

City

Waterloo

County

Black Hawk

State

Iowa

Latitude

42.4568

Longitude

-92.3554

CBSA code

47940

CBSA name

WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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