999 Home Plz Waterloo, IA 50701-4822

Property Details for 999 Home Plz

Year built

1979

Construction

CONCRETE BLOCKS

Lot size

2.29 lot acres

Property size

35,822 SF

Property type

Office buildings

APN

8813-04-352-071

APU

881304352071

Description

This exceptional Class A office building, located at 999 Home Plaza in Waterloo, Iowa, presents a compelling investment opportunity. The property boasts 43,963 square feet across three stories, situated on a 2.84-acre lot zoned R-3 and R-P. Built in 1979, the single building enjoys a highly visible corner location at the intersection of San Marnan Drive and Ansborough Avenue, offering excellent access and exposure. Currently operating under a modified net lease with multiple tenants, the building maintains a strong 94% occupancy rate. The asking price is $2,650,000, translating to a price per square foot of $60.28 and a projected cap rate of 7.80%. This makes it an attractive investment for those seeking a stable, high-performing asset in a desirable location. The property's executive office subtype caters to a sophisticated tenant base, further enhancing its long-term value and potential for appreciation. The building's solid construction and prime location in Black Hawk County, Iowa, with a 50701 zip code, contribute to its enduring appeal. This is a rare opportunity to acquire a well-established, multi-tenant office building with significant upside potential.

Location Insight

City

Waterloo

County

Black Hawk

State

Iowa

Longitude

-92.3755

Latitude

42.4585

CBSA code

47940

CBSA name

WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments