Mixed-Use Property with
For Sale
$225,000
452 W 4th St, Dubuque, IA 52001
Street-level commercial space is leased, with a redesigned apartment above.
Property Size1,408 SF
Price / SF$159.80
Days on Market191
Property Features for 452 W 4th St
General Information
Standard status
Active
Size
1,408 SF
Zoning
OC
Additional Details
Multifamily Units
1
Building Details
Year Built
1886
Tenancy
Multi
Listing Agency:
Century 21 Signature Real Estate
Listed By:
Beth Gilbreath
(563) 542-5933
Source:
Kwlegacyrealty
Added: Mar 17
Changed: Sep 17
Last Checked: Sep 22 at 11:28PM
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 Century 21 Signature Real Estate
Investment Insights
Based on property information with market context.
This two-level mixed-use property combines a leased commercial area on the main floor with an apartment upstairs. The upper residence has been updated with new flooring, a fully remodeled kitchen, replacement windows, and a mini-split system, with these improvements completed within the last 5 years. The building dates to 1886 and is zoned Office Commercial, supporting a range of commercial and residential uses.
Located at 452 W 4th Street in Dubuque, the property sits at the base of the 4th Street Elevator, an established local landmark. The main-level tenancy provides an operating commercial presence, while the renovated apartment adds a residential component within the same building.
Located at 452 W 4th Street in Dubuque, the property sits at the base of the 4th Street Elevator, an established local landmark. The main-level tenancy provides an operating commercial presence, while the renovated apartment adds a residential component within the same building.
Key Highlights
- Mixed‑use building with leased main‑level commercial space and an upper‑level apartment
- Upper apartment improvements completed within the last 5 years
- Updated kitchen, flooring, windows, and mini‑split system
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
$19,181
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
8.52%
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%
$383,620
$383.6K
Cap Rate 7%
$274,014
$274.0K
Cap Rate 9%
$213,122
$213.1K
Market Conditions
NOI Build-Up for 1,408 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
$26.7K $18.96/SF
− Vacancy
−$1.1K −$0.80/SF
EGI
$25.6K $18.16/SF
− OpEx
−$6.4K −$4.54/SF
NOI
$19.2K $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 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%
$383,620
Cap Rate 7%
$274,014
Cap Rate 9%
$213,122
Alternative Uses
Best Use
Specialty Retail
$274.0K
$239.8K – $319.7K
NOI $19,181 @ 7.0% cap · market cap 8.52%
Second Best
Retail
$174.7K
$152.9K – $203.8K
NOI $12,229 @ 7.0% cap · market cap 5.44%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,615
Businesses Nearby
Explore this area
Business Placement
Demographics for 52001, IA
43,572
Population
20,102
Households
2.2
Avg Household Size
36
Median Age
30%
College-Educated
92%
High-School Grad
26.1 sq mi
ZIP Area
1,669
Density / Sq Mi
$60,882
Median Household Income
$35,571
Median Earnings
$916
Median Rent
$168,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space is leased, with a redesigned apartment above.
Where is this mixed-use property located?
The property is located at 452 W 4th St Dubuque, IA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Mixed‑use building with leased main‑level commercial space and an upper‑level apartment; Upper apartment improvements completed within the last 5 years; Updated kitchen, flooring, windows, and mini‑split system
