Building Details

Year Built 1900

Year Renovated 2021

Listing Agency: EXIT Unlimited

Listed By: Cody Burger · License #B68799000 Show Phone

Source: Kwlegacyrealty

Added: Jul 19 Changed: Oct 6 Last Checked: Oct 19 at 12:25PM

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Investment Insights

Based on property information with market context.

This turnkey pizza parlor and bar has been beautifully renovated in 2021. Improvements include new electrical, plumbing, flooring, walls, restrooms, and a modernized bar, creating an updated interior designed for day-to-day restaurant operations.

The property includes an inviting covered porch at the front and a stamped concrete patio in the back, providing indoor-outdoor space for casual dining and events. The business is offered for sale as a ready-to-operate restaurant and bar opportunity.

The improvements described are focused on key building systems and guest-facing areas, including the restrooms and bar, with overall updates completed as part of the 2021 renovation.

Key Highlights

• Renovated pizza parlor and bar, updated in 2021
• Renovations include new electrical, plumbing, flooring, and walls
• Restrooms updated as part of the 2021 renovations

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$62,924

Cap Rate

8.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,258,480 $1.3M

Cap Rate 7%

$898,914 $898.9K

Cap Rate 9%

$699,156 $699.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,619 SF

Gross rent

$87.6K $18.96/SF

− Vacancy

−$3.7K −$0.80/SF

EGI

$83.9K $18.16/SF

− OpEx

−$21.0K −$4.54/SF

NOI

$62.9K $13.62/SF

Area

Dubuque County, IA

Vacancy

4.20%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,258,480

Cap Rate 7%

$898,914

Cap Rate 9%

$699,156

Alternative Uses

Best Use

Specialty Retail

$898.9K

$786.6K – $1.05M (±1% cap)

NOI $62,924 @ 7.0% cap · market cap 8.29%

Second Best

—

—

no second resolved use

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency HVAC Service Garden Center Plumbing Service Big Box & Wholesale Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

94

Businesses Nearby

4k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

BP Shops & Services

4,371 visits/mo 0.1 miles

Demographics for 52045, IA

2,739

Population

1,062

Households

2.6

Avg Household Size

38

Median Age

23%

College-Educated

97%

High-School Grad

48.0 sq mi

ZIP Area

57

Density / Sq Mi

$83,239

Median Household Income

$48,265

Median Earnings

$896

Median Rent

$248,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Renovated pizza restaurant and bar with updated electrical, plumbing, restrooms, and modernized bar plus front porch and back patio.

Where is this conventional restaurant located?

The property is located at 104 N Center Ave Epworth, IA.

What is the asking price?

The asking price for this property is $759,000.

What are key features of this property?

This property features: Renovated pizza parlor and bar, updated in 2021; Renovations include new electrical, plumbing, flooring, and walls; Restrooms updated as part of the 2021 renovations