999 Home PlzWaterloo, IA 50701

Property Details for 999 Home Plz

Year built

1979

Construction

CONCRETE BLOCKS

Lot size

2.29 AC

Property size (Sq ft)

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.

• CAP approach

  CAP return

  Valuation

  6%

  $5,896,696

  6.5%

  $5,443,104

  7%

  $5,054,311

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,828,355

  Geo Method

  $1,828,355

• Alternative Use

  Use

  Valuation

  Residential

  $6,749,449

  Hospitality

  $6,182,459

  Educational

  $5,143,733

  Medical

  $5,320,634

  Retail

  $8,001,363

Location Insight

City

Waterloo

County

Black Hawk

State

Iowa

Latitude

42.4585

Longitude

-92.3755

CBSA code

47940

CBSA name

WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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