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Shopping Center | Hobby Lobby

$3,795,000 | 9% Return

Elfyer - Waterloo, IA House - For Sale

The subject property is located on one of the main thoroughfares in Waterloo. Also Know as the 934, University Ave is a high traffic thoroughfare which comes off of Hwy 218. University Avenue is a very busy 4 lane thoroughfare, with a 4-way signalized intersection at University Ave. & Greenhill Rd. The Property is in a dense commercial shopping area which includes several other Retailers including K-Mart, Dollar General, Walgreen's O'Reilly's Auto Parts, McDonald's, Godfathers Pizza etc. The commercial shopping area serves both Waterloo and Cedar Falls. Also located within 3 miles from the subject property is the University of Northern Iowa Campus's. The University of Northern Iowa enrolls approximately 12,000 - 14,000 students per year.
Excellent return at a 9% cap
Excellent security & easy management
2 solid, stable long term tenants
Tenants just exercised 5 year lease options
NNN Leases
Below replacement cost $57.23 Per Sqft.
High traffic location on University Ave
Rent Increases on 3/1/13

Sq Ft: 66,300
Yr Built: 1966
Pool: No
Asking: $3,795,000  
Address: 3727-3731 University Avenue
Waterloo, IA
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George Renz

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Lic#: 00854816

Renz & Renz Real Estate Brokerage

7500 Arroyo Circle
Suite# Suite 170
Gilroy CA

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Agent and/or buyer to verify all information.

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