Multi-Tenant Office
For Sale
$799,000
120 Bryant St, Dubuque, IA 52003
Well-maintained office building is fully leased to four tenants and includes shared conference and break rooms.
Property Size9,450 SF
Price / SF$84.55
Days on Market41
Property Features for 120 Bryant St
General Information
Standard status
Active
Size
9,450 SF
Zoning
OR
Occupancy
100%
Amenities
off street parking
conference room
break room
Building Details
Year Built
1961
Tenancy
Multi
Listing Agency:
American Realty of Dubuque, Inc.
(563) 590-7411
Listed By:
David Frommelt · License #B36201
Source:
Kwlegacyrealty
Added: Jul 21
Changed: Aug 8
Last Checked: Aug 29 at 12:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of American Realty of Dubuque, Inc.
Investment Insights
Based on property information with market context.
This well-maintained commercial office building totals approximately 9,400 square feet and is currently fully leased to four tenants, with the seller considering a lease-back. The property includes shared conference room and break room amenities and is described as having many improvements.
The building is positioned near the corner of Bryant St and Dodge St, offering great visibility and easy access. Off-street parking is available on-site.
The property is zoned OR. Showings and details can be coordinated based on tenant occupancy, with the seller indicating willingness to entertain a lease-back arrangement.
The building is positioned near the corner of Bryant St and Dodge St, offering great visibility and easy access. Off-street parking is available on-site.
The property is zoned OR. Showings and details can be coordinated based on tenant occupancy, with the seller indicating willingness to entertain a lease-back arrangement.
Key Highlights
- 9400 sq ft commercial building built in 1961, near the corner of Bryant St and Dodge St
- Fully leased with 4 tenants (seller would entertain lease back)
- OR zoning and well‑maintained building
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
$45,384
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
5.68%
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%
$907,680
$907.7K
Cap Rate 7%
$648,343
$648.3K
Cap Rate 9%
$504,267
$504.3K
Market Conditions
NOI Build-Up for 9,450 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
$79.4K $8.40/SF
− Vacancy
−$18.9K −$2.00/SF
EGI
$60.5K $6.40/SF
− OpEx
−$15.1K −$1.60/SF
NOI
$45.4K $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%
$907,680
Cap Rate 7%
$648,343
Cap Rate 9%
$504,267
Alternative Uses
Best Use
Office B
$648.3K
$567.3K – $756.4K
NOI $45,384 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.15M
NOI $128,735 @ 7.0% cap · market cap 16.11%
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
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office building is fully leased to four tenants and includes shared conference and break rooms.
Where is this office building located?
The property is located at 120 Bryant St 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: 9400 sq ft commercial building built in 1961, near the corner of Bryant St and Dodge St; Fully leased with 4 tenants (seller would entertain lease back); OR zoning and well‑maintained building
