Riverfront Restaurant and
New
For Sale
$2,440,000
1630 E 16th Ext St, Dubuque, IA 52001
Includes indoor and outdoor dining areas, a full bar, and a river cruise excursion business.
Property Size5,568 SF
Price / SF$438.22
Days on Market5
Property Features for 1630 E 16th Ext St
General Information
Standard status
Active
Size
5,568 SF
Building Details
Year Built
2005
Listing Agency:
Equity Real Estate Group LLC
(608) 778-8224
Listed By:
Troy Timmerman · License #S65989000,S8537094
Source:
Kwlegacyrealty
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 12:02AM
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 Equity Real Estate Group LLC
Investment Insights
Based on property information with market context.
This 5,568-square-foot restaurant and bar was built in 2005 along the Mississippi River. The operation includes a full bar, indoor dining, outdoor seating, and the American Lady Cruises business, which offers sightseeing, dinner, and happy hour excursions. The sale combines the restaurant operation with the cruise business.
Located at 1630 E 16th Ext St in Dubuque, the property can be reached by vehicle or boat. The surrounding area includes the ImOn Arena & Event Center, The Mystique and Diamond Jo Casinos, the Mississippi River Museum, the Millwork District, 5 Flags Event Center, a nearby campground, and multiple marinas. The restaurant and cruise operation has been established for more than 20 years.
Located at 1630 E 16th Ext St in Dubuque, the property can be reached by vehicle or boat. The surrounding area includes the ImOn Arena & Event Center, The Mystique and Diamond Jo Casinos, the Mississippi River Museum, the Millwork District, 5 Flags Event Center, a nearby campground, and multiple marinas. The restaurant and cruise operation has been established for more than 20 years.
Key Highlights
- 5,568‑square‑foot restaurant and bar built in 2005
- Mississippi River setting with access by vehicle and boat
- American Lady Cruises business included in the offering
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
$75,852
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
3.11%
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%
$1,517,040
$1.5M
Cap Rate 7%
$1,083,600
$1.1M
Cap Rate 9%
$842,800
$842.8K
Market Conditions
NOI Build-Up for 5,568 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
$105.6K $18.96/SF
− Vacancy
−$4.4K −$0.80/SF
EGI
$101.1K $18.16/SF
− OpEx
−$25.3K −$4.54/SF
NOI
$75.9K $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%
$1,517,040
Cap Rate 7%
$1,083,600
Cap Rate 9%
$842,800
Alternative Uses
Best Use
Specialty Retail
$1.08M
$948.2K – $1.26M
NOI $75,852 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Well-served
Demand for This Use
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Includes indoor and outdoor dining areas, a full bar, and a river cruise excursion business.
Where is this conventional restaurant located?
The property is located at 1630 E 16th Ext St Dubuque, IA.
What is the asking price?
The asking price for this property is $2,440,000.
What are key features of this property?
This property features: 5,568‑square‑foot restaurant and bar built in 2005; Mississippi River setting with access by vehicle and boat; American Lady Cruises business included in the offering
