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Property profile & analytics
OFF-MARKET
Strip malls
1209 Flammang Dr Waterloo, IA 50702-4384
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-0376943
Property summary
AI-generated overview
This single-story, 12,215-square-foot retail center, built in 1993 and renovated in 2021, is located at 1209 Flammang Drive in Waterloo, Iowa (50702), at the corner of Flammang Drive and San Marnan Drive. The property sits on a 0.92-acre lot and features 51 parking spaces. Currently, one 1,866-square-foot end-cap suite is available, boasting an outdoor patio. This C-2 zoned property offers excellent visibility and high traffic counts, making it ideal for a variety of office or retail uses. The center benefits from strong co-tenancy with established businesses including Clean Laundry, QPS Employment Group, and BoxDrop Mattress. The property includes twelve suites in total. Estimated NNN expenses are $3.86 per square foot. The property's APN is 881302327020, and it's located in Black Hawk County, within the Cedar Falls submarket.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1993
Total area
12,128 SF
Lot
0.92 ac (39,988 SF)
APN
8813-02-327-020
UPID
US25-0376943
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
LibertyX Bitcoin ATM Atm
-
Clean Laundry (Bike/Boat/Book/etc) Store
-
BoxDrop Mattress & Furniture of Waterloo Furniture & Home Goods
-
Merch Madness Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Lederman Bros Property Management L · 5 yrs held
Lederman Bros Property Management L
since 2020
Last sale
$560,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Waterloo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waterloo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$34,365
Tax year 2023
Assessed value
$958,090
Assessed 2024
Previous assessed
$958,090
+0.0% YoY
Effective rate
3.59%
On assessed value
Assessed land
$367,200
Assessed improvement
$590,890
Land market value
$367,200
Improvement market value
$590,890
Total market value
$958,090
Applied tax rate
940,001.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1993
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
12,128 SF
Lot
0.92 ac (39,988 SF)
APN
8813-02-327-020
UPID
US25-0376943
Jurisdiction
BLACK HAWK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1993
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
Lederman Bros Property Management L
Entity
Mailing address
712 SYCAMORE ST, WATERLOO, IA 50703-4728
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2020
$560,000
Lederman Bros Property Management L
Gerald C Muller
Warranty Deed
$532,000 · Farmers State Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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