1005 Maynard Ave Waterloo, IA 50701

This exceptional Class A warehouse property, located at 1005 Maynard Ave, Waterloo, IA 50701, presents a compelling redevelopment opportunity. The 4,000 square foot building, constructed in 2023, sits on a substantial 48,787 square foot lot and features 14 dock-high doors and a 16-foot ceiling height. Currently configured as four individual units, each with four parking spaces, the property boasts a 25% occupancy rate, with full occupancy projected by November 5, 2024. The current asking price is $529,900, representing a price per unit of $132,475. The property's current Net Operating Income (NOI) is $43,200, yielding a 3.00% cap rate. However, the pro-forma NOI is projected at $43,200, resulting in a significantly higher pro-forma cap rate of 8.15%. The property is offered as a net lease and is currently multi-tenant. The single-story building offers significant expansion potential, with the possibility of constructing additional units. This is a rare opportunity to acquire a well-located, high-potential industrial storage facility in a growing market. The property is fenced and secured with a code gate. Ownership is held by MICHAEL & SHERIE TAYLOR.