Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    303 1st NE Ave Waverly, IA 50677-1704
    Back to Search
    Property profile & analytics

    303 1st NE Ave, Waverly, IA 50677-1704

    View on Map
    • Office buildings
    • 2,750 SF
    • 0.20 lot acres
    Off-Market
    Last Sale Nov 24, 2020
    Property ID
    US25-1246889
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 303 1st NE Ave

    Year built
    1981
    Construction
    FRAME
    Lot size
    0.20 lot acres
    Property type
    Office buildings
    APN
    09-02-133-009
    APU
    902133009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 24, 2020 $50,000 Justin Leonard Randy D Ruth Deed —
    Mar 5, 2019 — Cgw Properties LLC — Deed · related $115k · First National Bank
    Nov 14, 2018 — Lance M Gritters Lorraine E Kohagen Deed —
    Mar 1, 2013 $82,500 Cgw Properties LLC Ellen S Leslie Warranty Deed —
    Jun 29, 2009 — Ellen S Leslie Ellen S Leslie Intrafamily Transfer · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Waverly
    County
    Bremer
    State
    Iowa
    Longitude
    -92.4666
    Latitude
    42.7271
    CBSA code
    47940
    CBSA name
    WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,218
    $51,450
    $199,860
    $251,310
    -
    $51,450
    $199,860
    $251,310

    Comparable in this City

    • Value Estimation
      $1,980,000
      18,967 SF

      1st SW St

      OFFICE BUILDING
      1st SW St, Waverly, IA 50677
      View Details
    • Value Estimation by Request
      5,364 SF

      403 3rd SE St

      OFFICE BUILDING
      403 3rd SE St, Waverly, IA 50677-3513
      View Details
    • Value Estimation by Request
      1,760 SF

      218 Bremer Ave

      OFFICE BUILDING
      218 Bremer Ave, Waverly, IA 50677-3434
      View Details
    • Value Estimation by Request
      720 SF

      1906 Ivory Ave

      OFFICE BUILDING
      1906 Ivory Ave, Waverly, IA 50677-9592
      View Details
    • Value Estimation by Request
      2,608 SF

      203 1st NE Ave

      OFFICE BUILDING
      203 1st NE Ave, Waverly, IA 50677-1703
      View Details
    • Value Estimation by Request
      4,540 SF

      220 8th SW Ave

      OFFICE BUILDING
      220 8th SW Ave, Waverly, IA 50677-3744
      View Details

    Similar Nearby for Sale

    • $1,400,000
      33,400 SF

      Waverly Industrial Space For Sale

      Economical industrial space with warehouse and office in good condition.
      1919 8Th St Southwest, Waverly, IA 50677
      View Details
    • $579,900
      0.45 Acres

      Versatile Retail-Office Building with Parking

      C-2 zoned building on SW 4th with front and rear parking, formerly a veterinary clinic and suited to multiple business uses.
      2221 SW 4Th St, Waverly, IA 50677
      View Details
    • $755,000
      0.21 Acres

      Mixed-Use Building with Apartments

      Multi-office lower level with five residential units upstairs, separately metered, coin laundry, and recent roof and HVAC updates.
      805 W Bremer Ave, Waverly, IA 50677
      View Details
    • $72,000
      0.69 Acres

      Waverly, IA Large Lot

      Large lot with city amenities and great views.
      1109 Copper Ter, Waverly, IA 50677
      View Details
    • $55,000
      0.48 Acres

      Residential Lot in Waverly, IA

      0.48 acre residential lot in a desirable Waverly neighborhood.
      1058 NE 2Nd Ave, Waverly, IA 50677
      View Details
    • $68,000
      0.37 Acres

      Residential Land in Waverly, Iowa

      Building lot near elementary school with city utilities.
      509 Tumbleweed Trl, Waverly, IA 50677
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      261,360 SF

      Waverly Commercial Space For Rent

      Versatile commercial space with office and warehouse options available.
      190 20Th St NW, Waverly, IA 50677
      View Details
    • $8 SF/Yr
      3,049 SF

      Waverly Corner Commercial Space

      Prime downtown Waverly commercial space with basement, available for lease.
      123 E Bremer Ave, Waverly, IA 50677
      View Details
    • $14 SF/Yr

      Medical Office Space with Parking

      Former dentist office with ample parking and flexible layout for rent as whole or split.
      203 20Th St, Waverly, IA 50677
      View Details
    • $11 SF/Yr
      11,326 SF

      Waverly Office Space For Rent

      Office space in Waverly with high ceilings and low CAM.
      195 20Th St, Waverly, IA 50677
      View Details
    • $54 SF/Yr
      314,647 SF

      110 12Th St

      Distribution centers
      110 12Th St, Waverly, IA 50677
      View Details
    • Contact for pricing

      Retail Space in High-Traffic Area

      Retail space available in high-traffic area with ample parking.
      1311 4Th St SW, Waverly, IA 50677
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    303 1st NE Ave
    Waverly, IA 50677-1704
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    303 1st NE Ave, Waverly, IA, 50677
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!