Downtown Multifamily
For Sale
$846,511
1337 Main Street, Dubuque, IA 52001
Downtown multifamily property located along Dubuque’s Main Street corridor.
Property Size6,540 SF
Days on Market45
Property Features for 1337 Main Street
General Information
Standard status
Active
Size
6,540 SF
Property subtype
Multifamily
Building Details
Building Size
6,540 SF
Listing Agency:
Ferguson Commercial Real Estate Services
(515) 803-2895
Listed By:
Roy Jensen · License #IA #S72747000
Source:
Fergusoncres
Added: Jul 18
Changed: Aug 26
Last Checked: Aug 30 at 3:32PM
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 Ferguson Commercial Real Estate Services
Investment Insights
Based on property information with market context.
1337 Main Street is a downtown multifamily property positioned along the Main Street corridor in Dubuque. The offering is described as a convenient downtown location for residents.
The property is presented as being within walking distance to local restaurants, retail shops, entertainment venues, and the Mississippi River riverfront district. The remarks also note easy access to major employment centers, public transportation, and nearby attractions throughout the downtown area.
The information provided supports this as a multifamily residential income asset in a walkable, centrally located setting within Dubuque.
The property is presented as being within walking distance to local restaurants, retail shops, entertainment venues, and the Mississippi River riverfront district. The remarks also note easy access to major employment centers, public transportation, and nearby attractions throughout the downtown area.
The information provided supports this as a multifamily residential income asset in a walkable, centrally located setting within Dubuque.
Key Highlights
- Downtown Dubuque multifamily property located along the Main Street corridor
- Year built: 1900
- Walkable to local restaurants, retail shops, entertainment venues, and the Mississippi River riverfront district
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
$49,725
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
5.87%
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%
$994,500
$994.5K
Cap Rate 7%
$710,357
$710.4K
Cap Rate 9%
$552,500
$552.5K
Market Conditions
NOI Build-Up for 6,540 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
$94.2K $14.40/SF
− Vacancy
−$3.8K −$0.58/SF
EGI
$90.4K $13.82/SF
− OpEx
−$40.7K −$6.22/SF
NOI
$49.7K $7.60/SF
Area
Dubuque County, IA
Vacancy
4.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$994,500
Cap Rate 7%
$710,357
Cap Rate 9%
$552,500
Alternative Uses
Best Use
Apartment 5plus
$710.4K
$621.6K – $828.8K
NOI $49,725 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $89,093 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,560
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Downtown multifamily property located along Dubuque’s Main Street corridor.
Where is this multifamily property located?
The property is located at 1337 Main Street Dubuque, IA.
What is the asking price?
The asking price for this property is $846,511.
What are key features of this property?
This property features: Downtown Dubuque multifamily property located along the Main Street corridor; Year built: 1900; Walkable to local restaurants, retail shops, entertainment venues, and the Mississippi River riverfront district
