Two-Building Office
New
For Sale
$450,000
1698 Iowa Dr, Le Claire, IA 52753
Includes two suites, built-in cabinetry, separate bathrooms, and a kitchenette.
Property Size2,040 SF
Price / SF$175.23
Days on Market2
Property Features for 1698 Iowa Dr
General Information
Standard status
Active
Size
2,040 SF
Warehouse & Industrial
Office Build-Out
2,040 SF
Drive-In Doors
1
Sprinkler System
Yes
Additional Details
Office Units
2
Amenities
overhead garage door
floor drain
built in cabinetry
bathrooms
shower stall
HVAC systems
water heaters
air compressor
gas fireplace
security system
TV hookups
kitchenette
storage room
fire pit
patio area
green space
Building Details
Year Built
1996
Buildings
2
Stories
1
Building Size
2,040 SF
Construction
metal frame
Listing Agency:
eXp Realty
Listed By:
Austin Woods, Lonna Woods · License #B41271000/475.115537
(833) 835-5566
Source:
Grandviewrealtyservices
Added: Sep 7
Last Checked: Sep 7 at 2:45PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This office property includes two buildings totaling 2,568 SF. The primary metal-frame building was completed in 1996 and contains 2 separate suites within 2,040 SF. Interior features include HVAC, 2 water heaters, built-in cabinetry, 2 bathrooms with one shower stall, a kitchenette, storage room, security system, sprinklers, TV hookups, and an 8-foot-wide by 10-foot-high overhead garage door. A floor drain, air compressor, and gas fireplace are also included.
The second building is an insulated commercial garage measuring 528 SF and was built in 2017. The exterior includes multiple open parking spaces, a patio with fire pit, and green space. The property is located near the new YMCA and other Le Claire amenities.
The second building is an insulated commercial garage measuring 528 SF and was built in 2017. The exterior includes multiple open parking spaces, a patio with fire pit, and green space. The property is located near the new YMCA and other Le Claire amenities.
Key Highlights
- 2,568 SF property with 2 buildings
- Primary building includes 2 separate suites and 2,040 SF
- Second building is a 528 SF insulated commercial garage
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
$17,346
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
3.85%
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%
$346,920
$346.9K
Cap Rate 7%
$247,800
$247.8K
Cap Rate 9%
$192,733
$192.7K
Market Conditions
NOI Build-Up for 2,568 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
$29.3K $11.40/SF
− Vacancy
−$6.1K −$2.39/SF
EGI
$23.1K $9.01/SF
− OpEx
−$5.8K −$2.25/SF
NOI
$17.3K $6.75/SF
Area
Scott County, IA
Vacancy
21.00%
Lease Rate
$11.40 /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%
$346,920
Cap Rate 7%
$247,800
Cap Rate 9%
$192,733
Alternative Uses
Best Use
Industrial
$2.09M
$1.83M – $2.43M
NOI $146,063 @ 7.0% cap · market cap 32.46%
Second Best
Office B
$247.8K
$216.8K – $289.1K
NOI $17,346 @ 7.0% cap · market cap 3.85%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
2
Office units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Explore this area
Business Placement
Demographics for 52753, IA
6,176
Population
2,489
Households
2.5
Avg Household Size
41
Median Age
38%
College-Educated
96%
High-School Grad
24.7 sq mi
ZIP Area
250
Density / Sq Mi
$100,122
Median Household Income
$56,594
Median Earnings
$1,120
Median Rent
$306,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Includes two suites, built-in cabinetry, separate bathrooms, and a kitchenette.
Where is this office units located?
The property is located at 1698 Iowa Dr Le Claire, IA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,568 SF property with 2 buildings; Primary building includes 2 separate suites and 2,040 SF; Second building is a 528 SF insulated commercial garage
