3530 Marnie Ave, Waterloo, IA 50701

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 & Access

Strategically 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 Positioning

This 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.