501 Sycamore St Waterloo, IA 50703-4644
This magnificent eight-story, 199,074 square foot Beaux-Arts style office building, located at 501 Sycamore St, Waterloo, IA 50703, presents a unique investment opportunity. Built in 1913, this landmark structure boasts a rich history as the tallest building in Iowa at the time, originally housing Black's Department Store. The building offers 1,353 square feet of net rentable space, with an asking price of $4,000,000, translating to $20.09 per square foot. Its prominent position within Black Hawk County ensures high visibility and accessibility. The building's architectural significance and historical context provide a compelling investment proposition, offering potential for adaptive reuse or continued operation as a prestigious office space. This is a chance to acquire a piece of Waterloo's heritage and capitalize on its enduring appeal. The property's substantial size and prime location in the heart of Waterloo offer significant potential for future development and growth. This is a rare opportunity to own a piece of Iowa history.
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Black’s Building Real Estate Agency
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Nelson Properties-Midtown Construction Company General Contractor
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Zensible Art & Shop online Artist
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Shazam Atm Atm
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AECOM Waterloo Engineering Consultant Architect
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.