Improved Commercial Land for Sale in Waterloo, Iowa
3556 Marnie Ave, Waterloo, IA 50701
Beautiful self-storage complex located at the high-traffic intersection of Hwy 20 & Hwy 63 in Waterloo, IA. Phase 1 opened in October 2023 and offers a total of 100,880 SF of leasable space across 5.19 acres. The site includes 28,800 SF of indoor storage with 157 drive-up units (10x15, 10x20, 10x30), a 1,280 SF climate-controlled office/shop (owner-occupied, but leasable), and 70,800 SF of outdoor parking with 177 spaces (10x40). Total unit count: 335 + office/shop.
Property is averaging 4 new leases per week with projected stabilization by September 2025. Security features include perimeter fencing, an automated gate, and high-definition security cameras. The site also benefits from a 15-year TIF package (90% for the first 10 years, then 60% thereafter). Financials and pro forma updated monthly by CPA. Bi-annual tax reimbursements managed by CPA.
Seller financing available. Owners open to staying on for operations post-sale at below-market management rates. Excellent opportunity for investors or owner-users.
Location
- Street address
- 3556 Marnie Ave
- County
- Black Hawk County
- Elevation
- 889 feet
Directions
Hwy 20 W to the Hwy 63 exit, N on Hwy 63 to Cyclone Dr, turn Rt on Cyclone Dr to Marnie Ave, Rt on Marnie Ave to the end of the cul-de-sac
Property details
- Acreage
- 5.19 acres
- Zoning
- Comm
- MLS #
- CRAAR 2500689
- Posted
Parcels
- 881306426059
Resources
Details and features
Listing
- Type
- Commercial Sale
Structure
- Heating
- Central
- Cooling
- Central Air
- Roof
- Metal
Interior
- Flooring
- Concrete
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| Nov 18, 2025 | Price drop | $4,395,000 | $55,000 -1.2% | CRAAR |
| Aug 11, 2025 | Price drop | $4,450,000 | $330,000 -6.9% | CRAAR |
| June 24, 2025 | Price drop | $4,780,000 | $170,000 -3.4% | CRAAR |
| Mar 19, 2025 | Price drop | $4,950,000 | $456,382 -8.4% | CRAAR |
| Jan 29, 2025 | New listing | $5,406,382 | — | CRAAR |