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Gasser Building 626-632 Sycamore St 9,344 SF 100% Leased Retail Building Waterloo, IA 50703 $475,000 ($50.83/SF)
EXECUTIVE SUMMARY
Welcome to the Gasser Building! Offering a unique blend of commercial and residential opportunities. This 9,344 SF building sits on .18 acres in the heart of downtown Waterloo. The building features (3) commercial units and (3) residential units. The commercial suites are roughly (+/-) 1,500 SF featuring historical touches throughout. One unit is currently leased and two units are ready to be white-boxed and re-leased. The three residential units include a mix of floorplans: Two units with (2) bedrooms and (2) bathrooms, and one unit with (2) bedrooms and (1) bathroom. Each unit features a beautiful historic fireplace, an in-unit washer and dryer, and original hardwood flooring throughout. The building’s central location provides easy access to local amenities, making it an ideal spot for tenants seeking visibility, foot traffic, and proximity to a surplus of retailers and restaurants. The property is located in the Downtown TIF district and opportunity zone with incentives available. With its rich history and modern upgrades, the Gasser Building presents a rare opportunity for a viable restoration project for the commercial units, and cash-flow on the residential units.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
9,344 SF
Building Class
B
Year Built/Renovated
1903/2018
Price
$475,000
Price Per SF
$50.83
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.19
Lot Size
0.18 AC
Opportunity Zone
Yes
Zoning
Commercial
Frontage
AMENITIES
- Storage Space
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Beauty Shop/Barbour Shop
- Services
- -
- $6.75
- Plus Utilities
- -
- Warren
- -
- -
- -
- Triple Net
- Jun 2020
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Beauty Shop/Barbour Shop | Services | - | $6.75 | Plus Utilities | - | |
| Warren | - | - | - | Triple Net | Jun 2020 |
Walk Score®
Very Walkable (73)
Bike Score®
Very Bikeable (84)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 8913-25-102-004 | Improvements Assessment | $244,440 |
| Land Assessment | $46,800 | Total Assessment | $291,240 |
PROPERTY TAXES
Parcel Number
8913-25-102-004
Land Assessment
$46,800
Improvements Assessment
$244,440
Total Assessment
$291,240
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Gasser Building | 626-632 Sycamore St
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