Freestanding Bank
For Sale
Contact for pricing
1454 W Locust St, Davenport, IA 52804
Former financial service center with furniture and fixtures included, excluding the ATM.
Property Size3,928 SF
Lot Size0.79 Acres
Price / SF$248.22
Days on Market9
Property Features for 1454 W Locust St
General Information
Standard status
Active
Size
3,928 SF
Lot size
0.79 Acres
Property subtype
Office, Retail
Zoning
Commercial
Building Details
Year Built
2004
Buildings
1
Listing Agency:
Hawkeye Commercial Real Estate
Listed By:
Bobbie Slavens
(563) 344-4295
Source:
Crexi
Added: Aug 25
Changed: Sep 1
Last Checked: Sep 1 at 3:36PM
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 Hawkeye Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,928-square-foot commercial building occupies approximately 0.79 acres along West Locust Street in Davenport. The property was previously used as a financial service center and includes furniture and fixtures, while the ATM is excluded.
The building sits within an established commercial corridor with access from West Locust Street and visibility from the surrounding area. Its existing configuration supports continued consideration as a bank or financial-service property, subject to applicable use requirements.
The building sits within an established commercial corridor with access from West Locust Street and visibility from the surrounding area. Its existing configuration supports continued consideration as a bank or financial-service property, subject to applicable use requirements.
Key Highlights
- 3,928 SF commercial building on approximately 0.79 acres
- Former financial service center
- Furniture and fixtures included; ATM excluded
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
$44,623
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
4.58%
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%
$892,460
$892.5K
Cap Rate 7%
$637,471
$637.5K
Cap Rate 9%
$495,811
$495.8K
Market Conditions
NOI Build-Up for 3,928 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
$63.6K $16.20/SF
− Vacancy
−$4.1K −$1.05/SF
EGI
$59.5K $15.15/SF
− OpEx
−$14.9K −$3.79/SF
NOI
$44.6K $11.36/SF
Area
Davenport, IA
Vacancy
6.50%
Lease Rate
$16.20 /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%
$892,460
Cap Rate 7%
$637,471
Cap Rate 9%
$495,811
Alternative Uses
Best Use
Specialty Retail
$637.5K
$557.8K – $743.7K
NOI $44,623 @ 7.0% cap · market cap 4.58%
Second Best
Retail
$542.1K
$474.3K – $632.4K
NOI $37,944 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$847.8K
$741.8K – $989.1K
NOI $59,346 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
90k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 83%
Shops & Services 14%
Electronics 2%
Taco Bell
Dining
21,406 visits/mo
0.1 miles
Wendy's
Dining
14,906 visits/mo
0.2 miles
Hardee's
Dining
13,742 visits/mo
0.4 miles
Little Caesars Pizza
Dining
7,025 visits/mo
0.2 miles
SUBWAY
Dining
6,997 visits/mo
0.2 miles
Demographics for 52804, IA
25,836
Population
11,986
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
93%
High-School Grad
32.9 sq mi
ZIP Area
785
Density / Sq Mi
$64,450
Median Household Income
$41,036
Median Earnings
$909
Median Rent
$148,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Former financial service center with furniture and fixtures included, excluding the ATM.
Where is this bank located?
The property is located at 1454 W Locust St Davenport, IA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,928 SF commercial building on approximately 0.79 acres; Former financial service center; Furniture and fixtures included; ATM excluded
