Former Auto Parts
For Sale
$726,042
2020 E Locust St, Davenport, IA 52803
Former O’Reilly Auto Parts store for sale.
Property Size6,776 SF
Price / SF$107.15
Days on Market184
Property Features for 2020 E Locust St
General Information
Standard status
Active
Size
6,776 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$27,624
Amenities
ConcreteSlabGrade
139827
3.21
CountyRoad
Building Details
Year Built
2001
Listing Agency:
Pinnacle Realty LLC
(319) 393-0900
Listed By:
Trev Adair · License #322502720
(319) 550-2125
Source:
Pinnaclerealtyia
Added: Mar 27
Changed: Sep 21
Last Checked: Sep 26 at 4:53AM
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 LLC
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
9.02%
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 9.02%
Second Best
Industrial
$579.3K
$506.9K – $675.9K
NOI $40,554 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,375 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
866
Businesses Nearby
27k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 38%
Checkers
Dining
10,354 visits/mo
0.1 miles
BP
Shops & Services
7,044 visits/mo
0.5 miles
Dollar Tree
Shops & Services
6,781 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
2,898 visits/mo
0.1 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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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 $726,042.
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.
