Glass-Front Office
For Sale
$3,250,000
3600 Digital Drive, Dubuque, IA 52003
Commercial Sale, Dubuque, IA
Property Size27,525 SF
Lot Size6.83 Acres
Price / SF$118.07
Days on Market1139
Property Features for 3600 Digital Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
PI
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Bathroom 6, Bathroom 5, Bathroom 4, Bathroom 2, Bathroom 3
Parking
150
Subdivision
DUBUQUE AREA
Standard status
Active
APN
1512376006
Lot size
6.83 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
outdoor seating
Building Details
Year built
1999
Floors in Building
2
Flooring type
Concrete
Building materials
Concrete
Roof type
Built-Up, Rubber
Listing Agency:
DBQ Property Group Inc.
(563) 557-7010
Listed By:
Nancy Kann
(563) 580-7257
Added: Aug 16, 2023
Changed: Sep 24
Last Checked: Sep 27 at 7:06AM
MLS# 147784
Copyright © 2026 East Central Iowa Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1999, this office building contains approximately 27,525 square feet on a 6.83-acre parcel. Efficient floor plates and extensive glass are part of its design. The property is 100% leased, with improvements completed between 2018 and 2026. Zoning is PI.
At 3600 Digital Drive in Dubuque’s Technology Park, the property sits beside Highways 61/151. The Highway 52/Southwest Arterial interchange is one mile away, and both Dubuque Regional Airport and downtown Dubuque are four miles from the site. Restaurants, banking, and a convenience store are nearby; Granger Creek Nature Trail is steps away. Outdoor seating, parking, and countryside views are also noted on the property.
At 3600 Digital Drive in Dubuque’s Technology Park, the property sits beside Highways 61/151. The Highway 52/Southwest Arterial interchange is one mile away, and both Dubuque Regional Airport and downtown Dubuque are four miles from the site. Restaurants, banking, and a convenience store are nearby; Granger Creek Nature Trail is steps away. Outdoor seating, parking, and countryside views are also noted on the property.
Key Highlights
- Approximately 27,525 square feet on 6.83 acres
- 100% leased office property
- PI zoning; built in 1999
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
$132,189
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
4.07%
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%
$2,643,780
$2.6M
Cap Rate 7%
$1,888,414
$1.9M
Cap Rate 9%
$1,468,767
$1.5M
Market Conditions
NOI Build-Up for 27,525 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
$231.2K $8.40/SF
− Vacancy
−$55.0K −$2.00/SF
EGI
$176.3K $6.40/SF
− OpEx
−$44.1K −$1.60/SF
NOI
$132.2K $4.80/SF
Area
Dubuque County, IA
Vacancy
23.77%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,643,780
Cap Rate 7%
$1,888,414
Cap Rate 9%
$1,468,767
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.20M
NOI $132,189 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.36M
$4.69M – $6.25M
NOI $374,966 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 52003, IA
14,060
Population
5,855
Households
2.4
Avg Household Size
45
Median Age
44%
College-Educated
97%
High-School Grad
56.4 sq mi
ZIP Area
249
Density / Sq Mi
$96,714
Median Household Income
$53,211
Median Earnings
$953
Median Rent
$261,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - The office property is fully leased and includes outdoor seating and on-site parking.
Where is this office building located?
The property is located at 3600 Digital Drive Dubuque, IA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Approximately 27,525 square feet on 6.83 acres; 100% leased office property; PI zoning; built in 1999
