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Property profile & analytics
OFF-MARKET Estimated value $230,000
Medical Office Space

922 Rainbow Dr Cedar Falls, IA 50613-6500

6,432 SF 0.34 ac lot Built 1979
Entity Owned 7-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US25-0245791
Property summary
AI-generated overview

This exceptional Class A creative office space, totaling 1,480 square feet, is situated within a larger 6,432 square foot building at 922 Rainbow Drive in Cedar Falls, Iowa, 50613. The property boasts a prime location at the "5 Corners" intersection, offering excellent visibility and accessibility. Built in 1979, this two-story building features a desirable open-concept configuration within the available suite. The building itself comprises a single structure on a 0.34-acre lot, zoned C-2 and R-4, and includes ample parking with 29 total spaces. The property's APN is 891318153009. This is a multi-tenant building, and the available space presents a fantastic opportunity for businesses seeking a modern and efficient workspace in the Waterloo submarket of Cedar Falls. Estimated Net, Net, Net (NNN) expenses are $3.35 per square foot. The property is classified as Office and Retail, with a Creative Office subtype.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1979
Total area 6,432 SF
Lot 0.34 ac (14,917 SF)
APN 8913-18-153-009
UPID US25-0245791
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
  • AAA Dental Services Dental Office
  • Farmers Insurance Agent Katie Insurance Agency
  • GreatorHealth Alternative Medicine Practice
  • Krickyfit Gym & Fitness Center
  • Townsquare Media Waterloo Marketing & Advertising Advertising Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$230k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$230k
Owner & transaction history
Winball LLC · 7 yrs held
Winball LLC
since 2018
2 recorded transactions
2018
Price N/A
2017
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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