415 Walnut Church: Historic Rehab Project or Opportunity Zone in Waterloo IA

By Jared Hottle | Published: 2025-06-26T19:48:57.378Z

🏛 Overview & Historic Context

Property: 415 Walnut St, Waterloo, IA

• Iconic 1908 church building designed by Clinton P. Shockley
• Listed on the National Register of Historic Places as Walnut Street Baptist Church
• Features: Soaring ceilings, stained glass, and classic early 20th-century architectural details

📍 Location Information

Address: 415 Walnut St, Waterloo, IA 50703

Neighborhood: Historic Walnut Neighborhood – a locally designated district northeast of downtown

Nearby Landmarks:

• Lincoln Park – 0.5 mi, local events hub
• KWWL Building – 0.5 mi, regional news station
• East High School – 0.25 mi, one of two high schools in Waterloo

💡 Investment Highlights

• Listed on the National Historic Registry
• Located in a TIF District and Opportunity Zone
• Eligible for Historic Tax Credits

💰 Office Space Pricing

• Asking Price: $199,900
• Price/SF: ~$10.27

🏗️ Building Specifications

• Stories: 2
• Ceiling Heights: ~50 feet
• Clock Tower: Iconic feature visible from Walnut St
• Parking: Off-site – options across the street or nearby city ramps

🍽️ Nearby Amenities

Restaurants & Services Within Walking Distance:

• All-In Grocers – Neighborhood grocery for fresh and healthy foods
• Screaming Eagle – American grill with live music
• El Patron – Iconic Mexican Food Downtown Waterloo
• **Savvy Bean - **locally owned coffee shop downtown Waterloo

🚍 Transportation & Accessibility

• Highway Access: Quick connection to Highway 63 (N/S)
• Public Transit: Near MET routes, walkable and bikeable location
• Bike Infrastructure: Access to established bike lanes

** Prominent Cross Streets:**

• 4th Street – Major N/S artery through Waterloo
• Walnut Street – Gateway into the Historic Walnut Neighborhood

🧠 Investment Ideas

• LIHTC Housing: Affordable housing demand + nearby comps
• Market-Rate Units: Blend of workforce housing & historic tax incentives
• Venue Space: Underserved need for indoor concert/event venues in Waterloo
• Co-Working Hub: Ideal layout for creative co-working/incubator concepts
• Church Use: Ready-to-use sanctuary with strong residential density nearby

📞 Contact Us

Interested in acquiring 415 Walnut St? Reach out today.

🔎 Explore more commercial listings at: HottleRealEstate.com