3530 Marnie Ave #B

Cedar Valley Crossing Lot 5, Lot 6, and Lot 751,900 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. Investment highlights TIF package approved by the City of Waterloo in 2024: 15 year - up to $3.6m.