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Property profile & analytics
FOR SALE
Strip malls
1655 E San Marnan Dr Waterloo, IA 50702
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-1142144
For Sale
1 / 3
Contact for pricing
1655 E San Marnan Dr, Waterloo, IA 50702
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Property summary
AI-generated overview
This exceptional 2,406-square-foot office space is situated in Waterloo, Iowa's vibrant Crossroads shopping area at 1655 E San Marnan Dr, zip code 50702. Located within a larger 14,840-square-foot building constructed in 2015, this single-tenant property sits on a 1.34-acre lot (58,545 square feet) and benefits from excellent visibility and signage opportunities along San Marnan Drive. Currently configured as a medical office, this versatile space presents numerous possibilities for various business types. The property's C-2 zoning provides flexibility for a range of uses. Ample parking is available for employees and clients. The building is located in Black Hawk County and offers a convenient location within a thriving commercial area. This property represents a unique opportunity to acquire a well-located, adaptable office space in a high-traffic retail environment. The building features one structure.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2015
Construction
METAL FRAME
Total area
14,840 SF
Lot
1.34 ac (58,544 SF)
APN
8813-02-201-025
UPID
US25-1142144
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
-
Emily Ball Physician
-
Fancy Nails and Spa Nail Salon
-
William Durbin Pediatrician Physician
-
Katie Hoover A.R.N.P. Medical Clinic
-
Nicole Payne, ARNP Physician
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
Boubin Realty Company Lc · 1 yrs held
Boubin Realty Company Lc
since 2025
Last sale
$130,000
5 recorded transactions
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
$103,261
Tax year 2023
Assessed value
$2,733,000
Assessed 2024
Previous assessed
$2,733,000
+0.0% YoY
Effective rate
3.78%
On assessed value
Assessed land
$937,600
Assessed improvement
$1,795,400
Land market value
$937,600
Improvement market value
$1,795,400
Total market value
$2,733,000
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
For Sale
Year built
2015
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
14,840 SF
Lot
1.34 ac (58,544 SF)
APN
8813-02-201-025
UPID
US25-1142144
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
2015
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.34 ac
Current owner
From public records · entity-resolved
Boubin Realty Company Lc
Entity
Free & Clear · 1 yrs held
Mailing address
401 MAIN ST STE #218, CEDAR FALLS, IA 50613-2800
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2025
—
Boubin Realty Company Lc
Angela M Boubin
Warranty Deed
—
Sep 19, 2024
—
Crossing Point Ventures LLC
—
Deed
related
$7,685,250 · Farmers State Bank
Oct 24, 2022
$130,000
Jerry Boubin Trust
Crossing Point Ventures LLC
Warranty Deed
—
Oct 4, 2017
—
Crossing Point Ventures LLC
—
Deed
related
$4,500,000 · Bankiowa
Apr 16, 2015
$1,299,875
Crossing Point Ventures LLC
Crossing Point LLC
Warranty Deed
—
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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