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    Versatile Commercial Building in Burlington Title is generated by Realmo AI

    2601 Madison Avenue, Burlington, IA 52601

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    For Sale
    $499,000

    COMMERCIAL - Other - Burlington, IA

    Added:
    Nov 26, 2025
    Days on Market:
    171
    Last Refresh:
    May 16 at 9:06 pm

    Property Features for 2601 Madison Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    16-17-204-023

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    as pr abstract & title opinion
    Tax Annual Amount
    17784

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1942
    Number of units
    1
    Building materials
    Block, Wood Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Tiffini Brockway
    Tiffini Brockway

    Listing agent Tiffini Brockway License #***

    Listing office RE/MAX Real Estate Specialists 123 Broadway, WEST BURLINGTON, IA

    Listing date Nov 26, 2025

    MLS# 6334008

    Copyright © 2026 NoCoast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Over 18,000 SF building on 1.89 acres.
    • Large 12,750 SF former brewing room with 11' x 12' automatic door.
    • Located near Dankwardt and Crapo Parks in South Burlington.
    • Includes approximately 2,500 SF restaurant/lounge space.
    • Features a large outdoor patio area and spacious parking lot.
    • Offers a 1,200 SF office area with a private bathroom.

    Overview

    This commercial property, situated on 1.89 acres in Burlington, Iowa, offers over 18,000 square feet of space. Located on the south end of Burlington, it is near Dankwardt and Crapo Parks. The building's layout includes a large front entrance area and approximately 2,500 square feet of restaurant and lounge space featuring epoxy flooring, a kitchen and dishwashing area, and restrooms. The south end of the building contains a former 1,000 square foot party room with separate bathrooms. The former brewing room encompasses 12,750 square feet and includes an 11' x 12' automatic door. An office area on the north end provides 1,200 square feet of space with a private bathroom. The property also features a large outdoor patio area and a spacious parking lot. Previously used as a bowling alley, brewing company, and restaurant, this property presents various business opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bowling alleys

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Skin Care Clinic Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Des Moines
    State
    Iowa
    Longitude
    -91.108738
    Latitude
    40.779697

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    FAQs

    What type of property is this?
    Restaurant - Adaptable 18,000+ SF building on 1.89 acres in Burlington.
    Where is this restaurant located?
    The property is located at 2601 Madison Avenue Burlington, IA.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Over 18,000 SF building on 1.89 acres.; Large 12,750 SF former brewing room with 11' x 12' automatic door.; Located near Dankwardt and Crapo Parks in South Burlington.
    (319) 671-0110
    We can help!
    Listing Contact
    Tiffini Brockway
    Tiffini Brockway
    Real Estate License ID: ***
    Learn More
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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.

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