Building Details

Year Built 2001

Stories 1

Listing Agency: Pinnacle Realty Show Phone

Listed By: Trev Adair · License #322502720 Show Phone

Source: Pinnaclerealtyia

Added: Jan 9 Changed: Oct 3 Last Checked: Oct 14 at 8:51PM

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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 Pinnacle Realty

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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 / Yr

$65,456

Cap Rate

9.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,309,120 $1.3M

Cap Rate 7%

$935,086 $935.1K

Cap Rate 9%

$727,289 $727.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,776 SF

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 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 (±1% cap)

NOI $65,456 @ 7.0% cap · market cap 9.02%

Second Best

Industrial

$579.3K

$506.9K – $675.9K (±1% cap)

NOI $40,554 @ 7.0% cap · market cap 5.59%

Theoretical Best

Office A

$1.46M

$1.28M – $1.71M (±1% cap)

NOI $102,375 @ 7.0% cap · market cap 14.10%

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

Property Analytics

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Current Use

O'Reilly Auto Parts Auto Parts Store

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Restaurant Building Supply Big Box & Wholesale Store

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

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

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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Similar Off Market Nearby

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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 Street 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.