Property profile

305 San Marnan Dr Waterloo, IA 50702

OFF-MARKET
Medical Office Space
Property ID
US25-0225092
3,204 SF 0.38 ac lot Built 1990
Individually Owned 6-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 6,084-square-foot freestanding office building presents a unique investment opportunity in Waterloo, Iowa. Located on a 0.38-acre lot at 305 E San Marnan Drive, the property enjoys high visibility due to its prominent position and an average daily traffic count of 18,800 vehicles. Previously utilized as a medical office, the building features a well-designed layout including a large waiting/reception area, numerous exam rooms, and several private offices, making it ideal for a variety of professional uses. The convenient location offers easy access to Highway 20, ensuring excellent accessibility for clients and employees. Ample parking is provided with 17 available stalls. A key advantage is the presence of separate entrances to the lower level, allowing for owner-occupancy and the potential for additional rental income from a tenant. This versatile property offers a blend of functionality, visibility, and income potential, making it an attractive proposition for discerning investors or businesses seeking a well-established space in a thriving location. The asking price is $597,500.

Property profile

Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1990
Total area 3,204 SF
Lot 0.38 ac (16,692 SF)
APN 8813-03-329-019
UPID US25-0225092

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Pediatrician Physician
  • Hardware & Home Improvement Production Facility
  • Hardware & Home Improvement Interior Design
  • Physician
  • Hardware & Home Improvement Interior Design

Location

305 San Marnan Dr Waterloo, IA 50702-5837
Waterloo metro Census 1301 WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$250k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$225k

Owner & transaction history

since 2020
1 recorded transaction
2020
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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