West End Commercial
For Sale
Contact for pricing
Pending
2115 John F Kennedy Rd, Dubuque, IA 52002
Commercial building with established tenants and growth potential for sale.
Property Size5,520 SF
Days on Market179
Property Features for 2115 John F Kennedy Rd
General Information
Standard status
Pending
Size
5,520 SF
Total Parking Spaces
20
Property subtype
Mixed Use, Office
Zoning
OS
Occupancy
90%
Building Details
Year Built
1987
Buildings
1
Stories
2
Listing Agency:
Equity Real Estate Group
(563) 542-6829
Listed By:
Karl Dolter · License #IA S61488000
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Jul 24 at 3:48PM
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
Investment Insights
Based on property information with market context.
This commercial building, located in the west end, offers an opportunity to own a property with high visibility. The building features established tenants and additional space for growth. It includes both front and back parking lots, with access to a neighboring lot from Monday to Saturday. The property has undergone numerous updates in the past two years and provides a consistent income stream. Signage is available at the front of the building, and a ramp is located at the back. Inside, there is a directory of businesses and a central mail bank. The building has been well-maintained and updated. The property size is 5520 square feet.
Key Highlights
- High visibility location in the West End.
- Established tenants providing an income stream.
- Additional space for business growth.
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
$40,075
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
6.85%
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%
$801,500
$801.5K
Cap Rate 7%
$572,500
$572.5K
Cap Rate 9%
$445,278
$445.3K
Market Conditions
NOI Build-Up for 5,520 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
$72.9K $13.20/SF
− Vacancy
−$8.7K −$1.58/SF
EGI
$64.1K $11.62/SF
− OpEx
−$24.0K −$4.36/SF
NOI
$40.1K $7.26/SF
Area
Dubuque County, IA
Vacancy
12.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
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%
$801,500
Cap Rate 7%
$572,500
Cap Rate 9%
$445,278
Alternative Uses
Best Use
Mixed Use
$572.5K
$500.9K – $667.9K
NOI $40,075 @ 7.0% cap · market cap 6.85%
Second Best
Office B
$378.7K
$331.4K – $441.8K
NOI $26,510 @ 7.0% cap · market cap 4.53%
Theoretical Best
Specialty Retail
$1.07M
$940.0K – $1.25M
NOI $75,198 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 52002, IA
17,177
Population
7,535
Households
2.3
Avg Household Size
41
Median Age
40%
College-Educated
97%
High-School Grad
29.2 sq mi
ZIP Area
588
Density / Sq Mi
$88,060
Median Household Income
$50,161
Median Earnings
$1,051
Median Rent
$273,400
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?
Mixed-use property - Commercial building with established tenants and growth potential for sale.
Where is this mixed-use property located?
The property is located at 2115 John F Kennedy Rd Dubuque, IA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: High visibility location in the West End.; Established tenants providing an income stream.; Additional space for business growth.
