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Property profile & analytics
FOR SALE
Office buildings
511 E 5Th St Waterloo, IA 50703
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US25-2263936
For Sale
1 / 13
$3,435,000
511 E 5Th St, Waterloo, IA 50703
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1915
Total area
56,152 SF
Lot
2.14 ac (93,174 SF)
APN
8913-24-379-013
UPID
US25-2263936
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
-
KWWL Television Studio Media Distribution
-
Carol Paul Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.46M
Blend (final)
Blend
$3.44M
Owner & transaction history
Store Master Funding Xxxi LLC · 3 yrs held
Store Master Funding Xxxi LLC
since 2023
Last sale
$25,500
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.6M
+46.3%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,800,000
Current use
RESTAURANT
$5,560,000
Change: +46% · Conversion: Moderate
RETAIL STORES
$3,740,000
Change: -2% · Conversion: Moderate
WAREHOUSE, STORAGE
$3,045,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$3.44M
Range $3.09M – $3.78M · ±10% · vs last sale $26k (Apr 11 2023)
Last sale anchor
$26k
Apr 11 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$61 / SF
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
$153,019
Tax year 2023
Assessed value
$4,014,880
Assessed 2024
Previous assessed
$4,014,880
+0.0% YoY
Effective rate
3.81%
On assessed value
Assessed land
$191,840
Assessed improvement
$3,823,040
Land market value
$191,840
Improvement market value
$3,823,040
Total market value
$4,014,880
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1915
Heating
STEAM
Cooling
AC.PACKAGE
Stories
4
Total area
56,152 SF
Lot
2.14 ac (93,174 SF)
APN
8913-24-379-013
UPID
US25-2263936
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.8M
RESTAURANT
Est. value
$5.6M
RETAIL STORES
Est. value
$3.7M
WAREHOUSE, STORAGE
Est. value
$3.0M
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1915
Heating
STEAM
Cooling
Yes
Stories
4
Lot
2.14 ac
Current owner
From public records · entity-resolved
Store Master Funding Xxxi LLC
Entity
Mailing address
500 E 4TH ST STE #100, WATERLOO, IA 50703-5798
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2023
$25,500
Store Master Funding Xxxi LLC
Cedar Rapids Tv LLC
Special Warranty Deed
$14,300,000 · Citibank NA
Apr 11, 2023
—
Allen Media Broadcasting LLC
Store Master Funding Xxxi LLC
Lease
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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