Log In/Sign Up
Your email has been sent.
3530 Marnie Ave 51,900 SF 56% Leased Industrial Building Waterloo, IA 50701 $7,650,000 ($147.40/SF) 6.63% Cap Rate
Executive Summary
51,900 SF Industrial Investment | Partial Occupancy + Value-Add | Waterloo, IA“Kenworth-Anchored Industrial | 51,900 SF | 6 Acres | Value-Add Lease-Up Opportunity”
Industrial investment opportunity located at the intersection of Highways 20 & 63 in Waterloo, Iowa. This 51,900 SF industrial facility sits on approximately 6 acres and offers a compelling combination of in-place income and lease-up upside.
Suite A (29,100 SF) is fully leased to MHC Kenworth, occupying 27,000 SF of shop space plus 2,100 SF of office, and generating $28,000/month ($336,000 annually).
Suite B (22,800 SF) is currently available for lease, providing immediate upside through stabilization at market rents.
Property Highlights
Purchase Price: $7,650,000
Total Building Size: 51,900 SF
Site Size: ±6.0 Acres (ample yard, parking, and circulation)
Strong in-place tenant: MHC Kenworth (national operator)
Value-add opportunity: Lease-up of 22,800 SF (Suite B)
Building Features
Clear Height: ±20’
Loading: 3 dock-high doors
Power: 3-phase power (industrial / forklift ready)
Construction: Modern industrial facility with efficient layout
Lighting: LED throughout
HVAC: Heated warehouse
Fire Protection: Fully sprinklered
Flooring: Heavy-duty concrete slab suitable for industrial use
Access: Excellent truck access and maneuverability
Parking / Yard: Ample on-site parking and outdoor storage potential
Environmental: Clean Phase I Environmental completed
Location & AccessStrategically positioned in the Cedar Valley industrial corridor, the property benefits from immediate access to two major transportation routes:
Highway 20: 11,700 – 13,100 vehicles/day
Highway 63: 3,050 – 4,500 vehicles/day
This location provides strong regional connectivity for logistics, service, and distribution users.
Pro Forma Potential
In-Place NOI (Suite A): $336,000
Projected NOI (Stabilized): ~$562,000
Estimated Cap Rate (Stabilized): ~7.3%
Investor PositioningThis is a classic split-bay industrial value-add opportunity:
Anchored by credit-style tenancy (MHC Kenworth)
22,800 SF of vacancy provides direct upside control
Strong functionality supports quick lease-up.
Return Profile
~4.4% cap on in-place income
~7.3% cap stabilized
Let me know if you have any questions. Happy to help.
Industrial investment opportunity located at the intersection of Highways 20 & 63 in Waterloo, Iowa. This 51,900 SF industrial facility sits on approximately 6 acres and offers a compelling combination of in-place income and lease-up upside.
Suite A (29,100 SF) is fully leased to MHC Kenworth, occupying 27,000 SF of shop space plus 2,100 SF of office, and generating $28,000/month ($336,000 annually).
Suite B (22,800 SF) is currently available for lease, providing immediate upside through stabilization at market rents.
Property Highlights
Purchase Price: $7,650,000
Total Building Size: 51,900 SF
Site Size: ±6.0 Acres (ample yard, parking, and circulation)
Strong in-place tenant: MHC Kenworth (national operator)
Value-add opportunity: Lease-up of 22,800 SF (Suite B)
Building Features
Clear Height: ±20’
Loading: 3 dock-high doors
Power: 3-phase power (industrial / forklift ready)
Construction: Modern industrial facility with efficient layout
Lighting: LED throughout
HVAC: Heated warehouse
Fire Protection: Fully sprinklered
Flooring: Heavy-duty concrete slab suitable for industrial use
Access: Excellent truck access and maneuverability
Parking / Yard: Ample on-site parking and outdoor storage potential
Environmental: Clean Phase I Environmental completed
Location & AccessStrategically positioned in the Cedar Valley industrial corridor, the property benefits from immediate access to two major transportation routes:
Highway 20: 11,700 – 13,100 vehicles/day
Highway 63: 3,050 – 4,500 vehicles/day
This location provides strong regional connectivity for logistics, service, and distribution users.
Pro Forma Potential
In-Place NOI (Suite A): $336,000
Projected NOI (Stabilized): ~$562,000
Estimated Cap Rate (Stabilized): ~7.3%
Investor PositioningThis is a classic split-bay industrial value-add opportunity:
Anchored by credit-style tenancy (MHC Kenworth)
22,800 SF of vacancy provides direct upside control
Strong functionality supports quick lease-up.
Return Profile
~4.4% cap on in-place income
~7.3% cap stabilized
Let me know if you have any questions. Happy to help.
Property Facts
| Price | $7,650,000 | No. Stories | 1 |
| Price Per SF | $147.40 | Year Built | 2021 |
| Sale Type | Investment or Owner User | Parking Ratio | 0.58/1,000 SF |
| Cap Rate | 6.63% | Clear Ceiling Height | 20’ |
| Property Type | Industrial | No. Dock-High Doors/Loading | 6 |
| Building Class | B | No. Drive In / Grade-Level Doors | 1 |
| Rentable Building Area | 51,900 SF | ||
| Zoning | C2-M1 - Flex Zoning | ||
| Price | $7,650,000 |
| Price Per SF | $147.40 |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.63% |
| Property Type | Industrial |
| Building Class | B |
| Rentable Building Area | 51,900 SF |
| No. Stories | 1 |
| Year Built | 2021 |
| Parking Ratio | 0.58/1,000 SF |
| Clear Ceiling Height | 20’ |
| No. Dock-High Doors/Loading | 6 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | C2-M1 - Flex Zoning |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Property owner is flexible on lease terms. Open warehouse with three loading docks.
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl - B | 22,800 SF | Industrial | Full Build-Out | Now |
1st Fl - B
| Size |
| 22,800 SF |
| Space Use |
| Industrial |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Fl - B
| Size | 22,800 SF |
| Space Use | Industrial |
| Build-Out | Full Build-Out |
| Available | Now |
Property owner is flexible on lease terms. Open warehouse with three loading docks.
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
1 of 28
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
3530 Marnie Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.