The Grand Crossing | 45 Jefferson St
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The Grand Crossing 45 Jefferson St
108 Unit Block of Flats For Sale Waterloo, IA 50701
Investment Highlights
- Attractive assumable debt
- Long-term annual real estate tax rebates
- Unrivaled amenities
- Significant revenue upside
Executive Summary
CBRE is pleased to present to qualified investors the rare opportunity to acquire Grand Crossing, an award winning two-phase mixed-use development in Waterloo, Iowa. Completed in 2017, Phase I is a 68-unit apartment complex outfitted with unrivaled amenities such as heated underground parking, community room, bar/lounge, and fitness center. Completed in the following year, Phase II is a mixed-use with four
complimentary commercial tenants on the main floor and 36 upscale lofts above.
This irreplaceable asset in total boasts 104 apartment units and 8,612 square
feet of commercial space. The apartments feature a wide variety of ten different
one-bedroom and two-bedroom units. The 21 Jefferson building hosts the four
NNN commercial tenants, consisting of Jimmy John’s, Sidecar Coffee (drive thru),
Mercy Medical Clinic, and Empeople Credit Union.
This national and local award-winning project was developed by Merge Urban Development Group and collaboratively designed by ISG and Slingshot Architecture. Grand Crossing is strategically located along Highway 218 at the corner of Jefferson Street and Westfield Avenue in a thriving area surrounded by local shopping, dining and night life.
Grand Crossing Phase I is part of the Community Development Block Program which means the project is reserved for subsidized housing. The Grand Crossing portfolio offers investors a generational opportunity to purchase a first-class asset well below replacement cost. This is all showcased with
assumable debt and generous long term annual TIF rebates.
complimentary commercial tenants on the main floor and 36 upscale lofts above.
This irreplaceable asset in total boasts 104 apartment units and 8,612 square
feet of commercial space. The apartments feature a wide variety of ten different
one-bedroom and two-bedroom units. The 21 Jefferson building hosts the four
NNN commercial tenants, consisting of Jimmy John’s, Sidecar Coffee (drive thru),
Mercy Medical Clinic, and Empeople Credit Union.
This national and local award-winning project was developed by Merge Urban Development Group and collaboratively designed by ISG and Slingshot Architecture. Grand Crossing is strategically located along Highway 218 at the corner of Jefferson Street and Westfield Avenue in a thriving area surrounded by local shopping, dining and night life.
Grand Crossing Phase I is part of the Community Development Block Program which means the project is reserved for subsidized housing. The Grand Crossing portfolio offers investors a generational opportunity to purchase a first-class asset well below replacement cost. This is all showcased with
assumable debt and generous long term annual TIF rebates.
Property Facts
Unit Amenities
- Dishwasher
- Microwave
- Washer/Dryer
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Deck
- Patio
Site Amenities
- Fitness Centre
- Bicycle Storage
- Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 63 | - | 675 - 925 |
| 2+1 | 11 | - | 1,132 - 1,225 |
| 2+2 | 34 | - | 1,030 - 1,225 |
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Bike Score ®
Very Bikeable (74)
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The Grand Crossing | 45 Jefferson St
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