Fully Leased Office
For Sale
$799,000
120 Bryant Street, Dubuque, IA 52003
COMMERCIAL - Dubuque, IA
Property Size9,400 SF
Price / SF$85
Days on Market3301
Property Features for 120 Bryant Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OR
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bathroom 3, Bathroom 4
Parking
20
Subdivision
DUBUQUE AREA
Standard status
Active
APN
1025357025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
shared conference room
break room
Building Details
Year built
1961
Floors in Building
1
Flooring type
Concrete
Building materials
Block, Stucco
Roof type
Metal
Listing Agency:
American Realty of Dubuque, Inc.
(563) 556-4577
Listed By:
David Frommelt · License #B36201
(563) 590-7411
Added: Aug 10, 2017
Changed: Aug 4
Last Checked: Aug 23 at 11:06AM
MLS# 133527
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.
Investment Insights
Based on property information with market context.
This well-maintained office building offers approximately 9,400 sq ft of commercial space on a block and stucco structure built in 1961. The building is currently fully leased with four tenants, and the seller would entertain a lease back. Interior features include a shared conference room, a break room, concrete flooring, and four bathrooms. Heating is forced air and cooling is central air, complemented by a metal roof.
Located near the corner of Bryant St and Dodge St, the property is positioned for visibility and easy access. Off-street parking supports tenant and visitor arrival.
Served by public water and public sewer, the building is zoned OR.
Located near the corner of Bryant St and Dodge St, the property is positioned for visibility and easy access. Off-street parking supports tenant and visitor arrival.
Served by public water and public sewer, the building is zoned OR.
Key Highlights
- Approximately 9,400 sq ft office building built in 1961
- Fully leased with 4 tenants; seller would entertain a lease back
- Zoned OR
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,143
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$902,860
$902.9K
Cap Rate 7%
$644,900
$644.9K
Cap Rate 9%
$501,589
$501.6K
Market Conditions
NOI Build-Up for 9,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$79.0K $8.40/SF
− Vacancy
−$18.8K −$2.00/SF
EGI
$60.2K $6.40/SF
− OpEx
−$15.0K −$1.60/SF
NOI
$45.1K $4.80/SF
Area
Dubuque County, IA
Vacancy
23.77%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$902,860
Cap Rate 7%
$644,900
Cap Rate 9%
$501,589
Alternative Uses
Best Use
Office B
$644.9K
$564.3K – $752.4K
NOI $45,143 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.83M
$1.60M – $2.13M
NOI $128,054 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
Explore this area
Business Placement
Demographics for 52003, IA
14,060
Population
5,855
Households
2.4
Avg Household Size
45
Median Age
44%
College-Educated
97%
High-School Grad
56.4 sq mi
ZIP Area
249
Density / Sq Mi
$96,714
Median Household Income
$53,211
Median Earnings
$953
Median Rent
$261,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Zoned OR with off-street parking and shared conference and break room in a fully leased office building.
Where is this office building located?
The property is located at 120 Bryant Street Dubuque, IA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Approximately 9,400 sq ft office building built in 1961; Fully leased with 4 tenants; seller would entertain a lease back; Zoned OR
