Contractor/Warehouse Property For
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2935 W 73RD Street, Davenport, IA 52806
I-zoned warehouse with paved lot, leased through May 2027.
Property Size3,750 SF
Lot Size1.14 Acres
Price / SF$93.33
Days on Market276
Property Features for 2935 W 73RD Street
General Information
Standard status
Active
Size
3,750 SF
Lot size
1.14 Acres
Property subtype
Industrial
Zoning
I-1
Lease Type
Modified Gross
Building Details
Year Built
1991
Buildings
1
Tenancy
Single
Listing Agency:
NAI Ruhl Commercial Company
(563) 355-4000
Listed By:
Shawn Langan · License #475162291
Source:
Crexi
Added: Nov 14, 2025
Changed: Aug 16
Last Checked: Aug 15 at 6:53PM
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 NAI Ruhl Commercial Company
Investment Insights
Based on property information with market context.
Located on Davenport’s northwest industrial side, this property is zoned I-1 and suitable for contractor or warehouse use. It features an approximate 3,000 square foot warehouse with two 12’ x 14’ power overhead doors, a heated office area, a restroom, and a suspended gas unit heater. The site is fully improved with approximately 1.14 acres (approximately 50,000 square feet) of extensive asphalt and concrete paving. Perimeter fencing with barbed wire and exterior lighting are present. Ample space is available for parking, equipment, or outdoor storage. The building is currently leased under a fixed-term agreement through May 2027 with a renewal option, and the additional lot is leased under a short-term agreement with a renewal option. It offers immediate connectivity to I-80 and I-74. The property includes parcels W0405A05 and W0405A06.
Key Highlights
- Excellent location with immediate connectivity to I‑80 and I‑74.
- Approximately 1.14 acres of extensive asphalt/concrete paving for parking, equipment, or outdoor storage.
- 3,000 SF warehouse with two 12’ x 14’ power overhead doors.**
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
$29,223
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
8.35%
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%
$584,460
$584.5K
Cap Rate 7%
$417,471
$417.5K
Cap Rate 9%
$324,700
$324.7K
Market Conditions
NOI Build-Up for 3,750 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
$36.0K $9.60/SF
− Vacancy
−$1.6K −$0.43/SF
EGI
$34.4K $9.17/SF
− OpEx
−$5.2K −$1.38/SF
NOI
$29.2K $7.79/SF
Area
Davenport, IA
Vacancy
4.50%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$584,460
Cap Rate 7%
$417,471
Cap Rate 9%
$324,700
Alternative Uses
Best Use
Warehouse
$417.5K
$365.3K – $487.1K
NOI $29,223 @ 7.0% cap · market cap 8.35%
Second Best
Industrial
$320.6K
$280.6K – $374.1K
NOI $22,444 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$809.4K
$708.2K – $944.3K
NOI $56,657 @ 7.0% cap · market cap 16.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 52806, IA
28,191
Population
12,092
Households
2.3
Avg Household Size
38
Median Age
32%
College-Educated
94%
High-School Grad
31.1 sq mi
ZIP Area
906
Density / Sq Mi
$73,682
Median Household Income
$42,744
Median Earnings
$976
Median Rent
$188,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - I-zoned warehouse with paved lot, leased through May 2027.
Where is this warehouse located?
The property is located at 2935 W 73RD Street Davenport, IA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Excellent location with immediate connectivity to I‑80 and I‑74.; Approximately 1.14 acres of extensive asphalt/concrete paving for parking, equipment, or outdoor storage.; 3,000 SF warehouse with two 12’ x 14’ power overhead doors.**
