Building Details

Building Size 34,412 SF

Listing Agency: Hawkeye Commercial Real Estate

Listed By: Bobbie Slavens Show Phone

Source: Commercialcafe

Added: Sep 1 Changed: Oct 16 Last Checked: Oct 16 at 6:20AM

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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

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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.

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 / Yr

$44,623

Cap Rate

4.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$892,460 $892.5K

Cap Rate 7%

$637,471 $637.5K

Cap Rate 9%

$495,811 $495.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,928 SF

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 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 (±1% cap)

NOI $44,623 @ 7.0% cap · market cap 4.58%

Second Best

Retail

$542.1K

$474.3K – $632.4K (±1% cap)

NOI $37,944 @ 7.0% cap · market cap 3.89%

Theoretical Best

Office A

$847.8K

$741.8K – $989.1K (±1% cap)

NOI $59,346 @ 7.0% cap · market cap 6.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Northwest Bank & Trust ... Loan Service

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Parking Lot & Garage Accounting Firm Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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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