3555 University AveWaterloo, IA 50701

Property Details for 3555 University Ave

Year built

1966

Lot size

0.46 AC

Property size (Sq ft)

5,840 SF

Property type

Bars

Property subtype

Pubs

APN

8913-21-351-025

APU

891321351025

Description

This exceptional 5,341-square-foot retail space, formerly home to Spicoli's Bar and Grill, presents a unique opportunity for a discerning business owner. Located at 3555 University Avenue in Waterloo, Iowa, this single-tenant property boasts a prime location within Black Hawk County, zip code 50701. Built in 1966, the entire building is currently vacant, offering a blank canvas for your vision. The property's substantial size allows for a wide range of retail concepts, from restaurants and bars to specialty stores or other commercial ventures. Its strategic placement on University Avenue ensures high visibility and accessibility, attracting significant foot traffic. The property's existing infrastructure provides a solid foundation for immediate occupancy, minimizing upfront renovation costs. This is an exceptional chance to establish a thriving business in a vibrant and well-established community. The property is classified as retail commercial and offers a single tenancy. Detailed building plans and specifications are available upon request. Don't miss this opportunity to secure a prominent location in Waterloo, Iowa.

• CAP approach

  CAP return

  Valuation

  6%

  $1,413,153

  6.5%

  $1,304,449

  7%

  $1,211,274

• Comparable approach

  Method

  Valuation

  Relative Method

  $751,146

  Geo Method

  $751,146

• Alternative Use

  Use

  Valuation

  Residential

  $1,100,351

  Hospitality

  $1,007,916

  Educational

  $838,574

  Medical

  $867,414

  Retail

  $1,304,449

Location Insight

City

Waterloo

County

Black Hawk

State

Iowa

Latitude

42.5023

Longitude

-92.3956

CBSA code

47940

CBSA name

WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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