3415 STONEMAN RD, Dubuque, IA 52002

Building Details

Year Built 2023 More

Tenancy Multi More

Listing Agency: Equity Real Estate Group

Listed By: Steve Davis, CCIM · License IA B66573000 Show Phone

Source: Crexi

Added: Oct 9 Changed: Nov 8 Last Checked: Nov 8 at 5:32PM

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Investment Insights

Based on property information with market context.

Completed in 2023, this approximately 12,000-square-foot shopping center has multiple tenants, including Pizza Hut, Burn Boot Camp, Milan Laser Hair Removal, and Switch Homes. The property has NNN leases with contractual rent increases and lease expirations spread across different dates. Lease-up opportunities are also identified as a potential source of additional income.

The center is adjacent to Kennedy Mall, near John F. Kennedy Road and U.S. Highway 20. Retailers and restaurants are among the surrounding commercial uses, and a 7 Brew Coffee location has been announced across the street.

Key Highlights

• Approximately 12,000 square feet of multi‑tenant retail space
• Constructed in 2023
• Tenants include Pizza Hut, Burn Boot Camp, Milan Laser Hair Removal, and Switch Homes

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$104,227

Cap Rate

2.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,084,540 $2.1M

Cap Rate 7%

$1,488,957 $1.5M

Cap Rate 9%

$1,158,078 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,000 SF

Gross rent

$158.4K $13.20/SF

− Vacancy

−$9.5K −$0.79/SF

EGI

$148.9K $12.41/SF

− OpEx

−$44.7K −$3.72/SF

NOI

$104.2K $8.69/SF

Area

Dubuque County, IA

Vacancy

6.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,084,540

Cap Rate 7%

$1,488,957

Cap Rate 9%

$1,158,078

Alternative Uses

Best Use

Retail

$1.49M

$1.30M – $1.74M (±1% cap)

NOI $104,227 @ 7.0% cap · market cap 2.99%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$2.34M

$2.04M – $2.72M (±1% cap)

NOI $163,473 @ 7.0% cap · market cap 4.68%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Nekter Juice Bar Restaurant Switch Homes Construction Company Burn Boot Camp Gym & Fitness Center Milan Laser Hair ... Skin Care Clinic

Suggested Use

Top Pick Law Firm Grocery & Convenience Store Parking Lot & Garage Carpet & Flooring Store (Bike/Boat/Book/etc) Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

888

Businesses Nearby

Under-served

Demand for This Use

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 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?

Shopping center - Pizza Hut, Burn Boot Camp, Milan Laser Hair Removal, and Switch Homes occupy the retail center.

Where is this shopping center located?

The property is located at 3415 STONEMAN RD Dubuque, IA.

What is the asking price?

The asking price for this property is $3,490,000.

What are key features of this property?

This property features: Approximately 12,000 square feet of multi‑tenant retail space; Constructed in 2023; Tenants include Pizza Hut, Burn Boot Camp, Milan Laser Hair Removal, and Switch Homes