3810 University AveWaterloo, IA 50701

Property Details for 3810 University Ave

Year built

1966

Construction

CONCRETE BLOCKS

Lot size

8.43 AC

Property size (Sq ft)

106,200 SF

Property type

Retail space

APN

8913-20-276-016

APU

891320276016

Description

This exceptional 106,200 square foot retail property, formerly a K-Mart, is available for $4,500,000. Located at 3810 University Ave, Waterloo, IA 50701, this vacant space presents a significant redevelopment opportunity. Situated on a fully reconstructed University Avenue, the property boasts high visibility and easy access, complemented by a large parking area. The C-2 zoning permits a variety of uses, including grocery stores, pharmacies, and restaurants, aligning with its previous commercial history. The 11.11-acre lot comprises three parcels, including the main building and an additional structure at the corner of University Avenue and Prospect Street. This prime location in Black Hawk County offers substantial potential for investors seeking a high-impact retail investment. The asking price of $4,500,000 translates to $42.37 per square foot. The property is offered on a NNN lease basis. This substantial property offers a unique chance to capitalize on a high-traffic location and create a thriving commercial venture. The expansive space and strategic location make it an ideal candidate for a variety of retail concepts. Don't miss this chance to acquire a significant retail asset in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $25,698,084

  6.5%

  $23,721,310

  7%

  $22,026,930

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,659,529

  Geo Method

  $13,659,529

• Alternative Use

  Use

  Valuation

  Residential

  $20,009,812

  Hospitality

  $18,328,880

  Educational

  $15,249,413

  Medical

  $15,773,864

  Retail

  $23,721,310

Location Insight

City

Waterloo

County

Black Hawk

State

Iowa

Latitude

42.5059

Longitude

-92.4005

CBSA code

47940

CBSA name

WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].