Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    4040 University Ave Waterloo, IA 50701-5640
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4040 University Ave Waterloo, IA 50701-5640

    View on Map
    • Retail space
    • 18,160 SF
    • 1.15 lot acres
    Off-Market
    Property ID
    US25-0170094
    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
    $1,280,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tractor Supply Co. / (Bike/Boat/Book/etc) Store / Pet Store

    Property Details for 4040 University Ave

    Year built
    1950
    Construction
    FRAME
    Lot size
    1.15 lot acres
    Property size
    18,160 SF
    Property type
    Retail space
    APN
    8913-20-255-010
    APU
    891320255010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,127,000
      Market price range: $646k - $1.88M
      AI Estimate
      $907,000
      Market price range: $387k - $1.69M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,210,000
      Current use
      RESTAURANT
      $1,800,000
      Change: +49% Conversion: Easy
      OFFICE BUILDING
      $1,345,000
      Change: +11% Conversion: Easy
      WAREHOUSE, STORAGE
      $985,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterloo
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.4057
    Latitude
    42.5061
    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
    $37,562
    $376,430
    $640,880
    $1,017,310
    -
    $376,430
    $640,880
    $1,017,310

    Comparable in this City

    • Value Estimation by Request
      1,788 SF

      2225 Shaulis Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,788 SF
      2225 Shaulis Rd, Waterloo, IA 50701-9573
      View Details
    • Value Estimation
      $970,000
      11,040 SF

      301 5th St

      RETAIL STORES (PERSONAL SERVICES) • 11,040 SF
      301 5th St, Waterloo, IA 50701-5507
      View Details
    • Value Estimation
      $870,000
      12,160 SF

      4107 Hammond Ave

      RETAIL STORES (PERSONAL SERVICES) • 12,160 SF
      4107 Hammond Ave, Waterloo, IA 50701-9302
      View Details
    • Value Estimation
      $1,110,000
      11,836 SF

      4011 Shoppers Blvd

      RETAIL STORES (PERSONAL SERVICES) • 11,836 SF
      4011 Shoppers Blvd, Waterloo, IA 50701-9341
      View Details
    • Value Estimation by Request
      600 SF

      155 Danberry Cir

      RETAIL STORES (PERSONAL SERVICES) • 600 SF
      155 Danberry Cir, Waterloo, IA 50701
      View Details
    • Value Estimation by Request
      2,040 SF

      3016 Marnie Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,040 SF
      3016 Marnie Ave, Waterloo, IA 50701-4373
      View Details

    Similar Nearby for Sale

    • $5,676,230
      44,800 SF

      Waterloo Flex Space Opportunity

      Flex space units available for lease or purchase.
      3423 Marnie Ave, Waterloo, IA 50701
      View Details
    • $569,950
      13,490 SF

      1657 Falls Ave, Waterloo, IA 50701

      Mixed-use properties • 13,490 SF
      1657 Falls Ave, Waterloo, IA 50701
      View Details
    • Contact for pricing
      13,804 SF

      Corner Retail/Office Space Available

      13,834 SF retail/office space near Hwy 218.
      359 Rock Island Ave, Waterloo, IA 50701
      View Details
    • $192,000
      1,797 SF

      Downtown Waterloo Bar/Entertainment Space

      High-visibility bar and entertainment space in revitalized downtown Waterloo.
      303 W 4Th St, Waterloo, IA 50701
      View Details
    • Contact for pricing
      2,378 SF

      Downtown Waterloo Retail Gem

      High-visibility corner retail space, 2378 sq ft.
      301 4Th St, Waterloo, IA 50701
      View Details
    • $748,888
      7,060 SF

      Waterloo Commercial Building on University

      7,060 SF commercial building ideal for auto or flex use.
      3128 University Ave, Waterloo, IA 50701
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr

      Former Hancock Fabrics Retail Store

      17,422 SF retail space with high visibility and traffic.
      2830 University Ave, Waterloo, IA 50701
      View Details
    • New
      $12 SF/Yr
      10,890 SF

      Versatile Commercial Space in Waterloo

      High-visibility Waterloo corner property with office and retail space.
      1118 Ansborough Ave, Waterloo, IA 50701
      View Details
    • Contact for pricing

      Retail Space on Corner Lot

      Retail space with sales floor, office, and rooftop signage.
      245 Fletcher Ave, Waterloo, IA 50701
      View Details
    • Contact for pricing

      Former Farrell's Bodyshaping Space

      Open retail space with office and restrooms for rent.
      3551 University Ave, Waterloo, IA 50701
      View Details
    • Contact for pricing

      Corner Building with Warehouse Space

      13,490 SF building with warehouse and parking.
      1657 Falls Ave, Waterloo, IA 50701
      View Details
    • Contact for pricing

      High-Traffic Former Bank Location

      Former bank space with high visibility in Waterloo, Iowa.
      57 E Tower Park Dr, Waterloo, IA 50701
      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.
    4040 University Ave
    Waterloo, IA 50701-5640
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!