Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    2901 Central Ave Dubuque, IA 52001

    Sponsored
    For Sale
    $3,663,000

    5 OR MORE UNITS, Other - Dubuque, IA

    Property size:
    25,544 SF
    Days on Market:
    6
    Last Refresh:
    Jan 20 at 6:06 am

    Property Features for 2901 Central Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    M - Residential (MR R3+)
    Rooms
    Basement
    APN
    1013155016 & 1013155017
    Parking features
    None, Off Street, Other
    Exterior features
    Fire Escape
    Basement Y/N
    1
    Appliances
    Dishwasher, Dryer, Range, Refrigerator, Washer
    Size
    25,544 SF

    Taxes and HOA fees

    Expense value
    1640
    Expense
    Security Deposit

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1896
    Number of units
    28
    Building materials
    Brick
    Roof type
    Composition, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Austin Healey
    Austin Healey

    Remax Advantage Realty (563) 588-3078 [email protected]

    Listing agent Austin Healey (563) 588-3078

    Listing date Jan 15, 2026

    MLS# 153344 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

    Property Insight Report

    Overview

    Renovated Multifamily Investment Opportunity

    This multifamily property features two buildings totaling 28 units, accompanied by a parking lot with space for over 40 vehicles. The buildings have been completely renovated, including new water lines, sewer lines, electrical systems, HVAC, framing, insulation, windows, plumbing, and roofing. The units feature updated cosmetics such as trim, doors, cabinets, appliances, and light fixtures, along with a full sprinkler and alarm system in both buildings. The unit mix includes three 3-bedroom units, sixteen 2-bedroom units, seven 1-bedroom units, and two efficiency apartments. All units are equipped with private laundry facilities. Rents range from $600 to $1640 per month, depending on unit size. Currently, 27 units are occupied, with one vacancy. The property generates approximately $30,500 per month when fully occupied and has a consistent rental history. The buildings are code compliant per the city of Dubuque. The 18-unit building recently passed rental inspections, and the 10-unit building passed inspection in 2021. Tenants are responsible for all utilities in their units. The owner covers trash removal for the buildings and electricity for common areas. The sale includes both 2887 Central and 2901 Central Avenue, as well as the attached parking lot. The Old School Building has a finished area of 23,249 square feet, and the Old Convent Building has a finished area of 9,560 square feet. The property is zoned M - Residential (MR R3+).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Gym & Fitness Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Dubuque
    County
    Dubuque
    State
    Iowa
    Longitude
    -90.6798037
    Latitude
    42.5240092

    Nearby Similar for Sale

    • $965,000
      12,972 SF

      Unique Dubuque Commercial Opportunity

      Two updated buildings with bar, restaurant, retail, and residential spaces.
      62 E 7Th St, Dubuque, IA 52001
      View Details
    • $750,000
      6,372 SF

      Eight-Unit Multifamily Investment Opportunity

      Eight rental units with views in a convenient Dubuque location.
      1735 Madison St, Dubuque, IA 52001
      View Details
    • $285,000
      3,624 SF

      Main Street Triplex Investment Opportunity

      Triplex near downtown Dubuque, close to colleges and future campus.
      1374 Main St, Dubuque, IA 52001
      View Details
    • $2,440,000
      5,568 SF

      Dubuque Riverfront Restaurant and Bar

      Thriving restaurant and cruise business on the Mississippi River.
      1630 E 16 Ext, Dubuque, IA 52001
      View Details
    • $680,000
      9,300 SF

      Versatile Mixed-Use Building in Dubuque

      Three-story building with commercial space and renovated apartment.
      900 Central Ave, Dubuque, IA 52001
      View Details
    • $169,000
      2,816 SF

      Income-Producing Duplex in Dubuque, IA

      Fully rented duplex with hardwood floors and brick exterior.
      364 W Locust St, Dubuque, IA 52001
      View Details
    • $3,751,000
      127.65 Acres

      127-Acre Property Near Dubuque

      127.65-acre property with rental cabins and ponds near Dubuque, IA.
      11838 Lorelei Ln, Dubuque, IA 52003
      View Details
    • New
      $350,000
      2,475 SF

      Renovated Duplex in Millwork District

      Historical duplex in Dubuque's Millwork District, walkable to amenities.
      902 White St, Dubuque, IA 52001
      View Details
    • New
      $222,900
      1,904 SF

      Dubuque Duplex with Garage

      Two-story duplex with garage and carport, suitable for owner occupancy.
      853 W Locust St, Dubuque, IA 52001
      View Details
    • $230,000
      3,129 SF

      Dubuque Triplex Investment Opportunity

      Triplex in Dubuque, Iowa with strong rental income potential.
      800 W 5Th St, Dubuque, IA 52001
      View Details
    • $400,000
      3,480 SF

      Updated Fourplex in Dubuque, Iowa

      Updated fourplex with four spacious units and off-street parking.
      251 W 17Th St, Dubuque, IA 52001
      View Details
    • $1,250,000
      12,540 SF

      Historic Dubuque Building with Development Potential

      Five-story building in downtown Dubuque with development opportunities.
      100 Main St, Dubuque, IA 52001
      View Details

    FAQs

    What type of property is this?
    Apartment building - Completely renovated 28-unit multifamily property with strong rental income.
    Where is this apartment building located?
    The property is located at 2901 Central Ave Dubuque, IA.
    What is the asking price?
    The asking price for this property is $3,663,000.
    What are key features of this property?
    This property features: - Fully renovated and remodeled buildings with new systems throughout.; - Substantial income potential with 28 units and a current monthly rental income of approximately $30,500 when fully occupied.; - All units feature private laundry.
    (563) 599-6912
    Request Owner's contact information
    2901 Central Ave Dubuque, IA 52001
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2901 Central Ave
    Dubuque, IA 52001
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2901 Central Ave Dubuque, IA 52001
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Austin Healey
    Austin Healey
    (563) 599-6912
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.