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    20756 Iowa 3 Durango, IA 52039

    Sponsored
    For Sale
    $1,350,000

    COMMERCIAL - Rickardsville, IA

    Property size:
    20,636 SF
    Days on Market:
    176
    Last Refresh:
    Jan 22 at 6:06 am

    Property Features for 20756 Iowa 3

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    B1, R1, A1
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    APN
    multiple
    Parking
    20
    Parking features
    Paved or Surfaced
    Size
    20,636 SF

    Utilities

    Heating system
    Forced Air, Other (Heating)
    Cooling system
    Other (Cooling)

    Building Details

    Year built
    1960
    Flooring type
    Concrete, Other
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Steve Davis

    Equity Real Estate Group LLC (563) 542-3519

    Listing agent Steve Davis (563) 542-3519 License #IL

    Listing date Jul 31, 2025

    MLS# 152420 Listing URL

    Copyright © 2026 East Central Iowa Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Rickardsville Commercial Land and Buildings

    Available for purchase are six parcels located in Rickardsville, Iowa. The offering includes operational and warehouse buildings with B1 zoning, vacant A1 lots, and an R1 walkout lot. Rickardsville is located in northeast Iowa within the Dubuque MSA, less than 20 miles from Dyersville, IA, and 10 miles from Dubuque's north/northwest corridor. Building 1 is an 8,000 sq ft brick structure currently operating as a vehicle service center with office space and four overhead doors. Building 2 is a 6,300 sq ft steel building with a shop accessed by a 20x14' overhead door and warehouse area. Building 3 is a two-level cold storage building with post frame/steel envelope construction. All of these buildings carry B1 (general business) zoning. On the north side of Iowa Route 3, three vacant lots are offered. Lot 1 is a +/- 3.5 acre level lot currently gravel with 750' of frontage. Lot 2 is a +/- 1.75 acre residential walk-out lot. Lot 3 is a +/- 13.25 acre pasture lot with access via James Road. The existing business is occupying and operating through June 2026.
    Location Intelligence

    Current Use by Public Records

    Auto shops

    Map

    City
    Durango
    County
    Dubuque
    State
    Iowa
    Longitude
    -90.8614
    Latitude
    42.5442

    FAQs

    What type of property is this?
    Auto shop - Six parcels with buildings and land in Rickardsville, Iowa.
    Where is this auto shop located?
    The property is located at 20756 Iowa 3 Durango, IA.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: - Six parcels offered as a bundle on a ridge in Rickardsville, Iowa.; - Includes an 8,000 sq ft vehicle service center and a 6,300 sq ft shop/warehouse with B1 zoning.; - Features a +/- 1.75 acre residential walk-out lot (R1) with exceptional views.
    (563) 542-3519
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    20756 Iowa 3 Durango, IA 52039
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    Durango, IA 52039
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    20756 Iowa 3 Durango, IA 52039
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    We can help!
    Listing Contact
    Steve Davis
    Real Estate License ID: IL
    (563) 542-3519
    Learn more
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