501 Sycamore StWaterloo, IA 50703

Property Details for 501 Sycamore St

Year built

1913

Construction

CONCRETE BLOCKS

Lot size

0.73 AC

Property size (Sq ft)

199,074 SF

Property type

Office buildings

APN

8913-24-361-010

APU

891324361010

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $32,769,774

  6.5%

  $30,249,022

  7%

  $28,088,378

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,160,737

  Geo Method

  $10,160,737

• Alternative Use

  Use

  Valuation

  Residential

  $37,508,788

  Hospitality

  $34,357,848

  Educational

  $28,585,326

  Medical

  $29,568,420

  Retail

  $44,466,064

Location Insight

City

Waterloo

County

Black Hawk

State

Iowa

Latitude

42.4988

Longitude

-92.3363

CBSA code

47940

CBSA name

WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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