Former Auto Parts
For Sale
Contact for pricing
2020 E Locust St, Davenport, IA 52803
Former O’Reilly Auto Parts store for sale.
Property Size6,776 SF
Price / SF$126.78
Days on Market166
Property Features for 2020 E Locust St
General Information
Standard status
Active
Size
6,776 SF
Class
A
Property subtype
Mixed Use, Retail
Zoning
C-409
Building Details
Year Built
2001
Buildings
1
Stories
1
Units
1
Listing Agency:
Pinnacle Realty
(319) 350-9476
Listed By:
Trev Adair · License #322502720
Source:
Crexi
Added: Feb 26
Changed: Aug 11
Last Checked: Aug 11 at 10:11AM
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 Pinnacle Realty
Investment Insights
Based on property information with market context.
This is a 6,776 square-foot building that formerly housed an O’Reilly Auto Parts store. The property is for sale and priced below its assessed value. The annual taxes are $27,720. An adjacent lot is included, which is currently zoned for multi-family use. The property was previously used as an auto shop, automotive property, retail space, and storefront.
Key Highlights
- Priced below assessed value.
- Bonus adjacent lot zoned for multi‑family.
- Former O’Reilly Auto Parts store.
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
$65,456
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
7.62%
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%
$1,309,120
$1.3M
Cap Rate 7%
$935,086
$935.1K
Cap Rate 9%
$727,289
$727.3K
Market Conditions
NOI Build-Up for 6,776 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
$101.6K $15.00/SF
− Vacancy
−$8.1K −$1.20/SF
EGI
$93.5K $13.80/SF
− OpEx
−$28.1K −$4.14/SF
NOI
$65.5K $9.66/SF
Area
Davenport, IA
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,309,120
Cap Rate 7%
$935,086
Cap Rate 9%
$727,289
Alternative Uses
Best Use
Retail
$935.1K
$818.2K – $1.09M
NOI $65,456 @ 7.0% cap · market cap 7.62%
Second Best
Industrial
$579.3K
$506.9K – $675.9K
NOI $40,554 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,375 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
71k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Groceries 27%
Dining 26%
Electronics 3%
Aldi
Groceries
19,072 visits/mo
0.3 miles
Dollar Tree
Shops & Services
13,068 visits/mo
0.2 miles
Shell
Shops & Services
10,111 visits/mo
0.3 miles
Village Inn
Dining
9,330 visits/mo
0.3 miles
KFC
Dining
5,279 visits/mo
0.3 miles
Demographics for 52803, IA
22,896
Population
10,427
Households
2.2
Avg Household Size
34
Median Age
35%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
4,489
Density / Sq Mi
$61,082
Median Household Income
$32,163
Median Earnings
$871
Median Rent
$157,900
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.
Similar Off Market Nearby
- Dadaian Auto Repairs — 2306 Kirkwood Blvd, Davenport, IA 52803
- KKA Mobile Detailing — 1111 College Ave, Davenport, IA 52803
- Browning Marine — 1255 Belle Ave #114, Davenport, IA 52803
- Mr. Amazing Auto Mobile Mechanic — 1510 Christie St, Davenport, IA 52803
- Swartout's Care & Repair — 1016 kirkwood blvd, davenport, ia 52803
Frequently Asked Questions
What type of property is this?
Auto shop - Former O’Reilly Auto Parts store for sale.
Where is this auto shop located?
The property is located at 2020 E Locust St Davenport, IA.
What is the asking price?
The asking price for this property is $859,031.
What are key features of this property?
This property features: Priced below assessed value.; Bonus adjacent lot zoned for multi‑family.; Former O’Reilly Auto Parts store.
