Extensive Glass Lines Office
For Sale
$3,250,000
3600 Digital Drive, Dubuque, IA 52003
COMMERCIAL - Dubuque, IA
Property Size27,525 SF
Lot Size6.83 Acres
Price / SF$118.07
Days on Market1104
Property Features for 3600 Digital Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
PI
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 5
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: Aug 6
Last Checked: Aug 23 at 12:06PM
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.
3600 Digital Drive is a concrete office building offering approximately 27,525 square feet with distinctive architectural design and extensive glass lines. The property is 100% leased and has been meticulously maintained and professionally managed. Year built is 1999, with forced-air heating and central air.
Improvements between 2018 and 2021 include new rooftop HVAC units (12 total), LED lighting upgrades, a fully replaced roof, and new carpet, along with a paint refresh. In 2021, air purification units were added to all HVAC units.
The building sits on 6.83 acres in Dubuque’s Technology Park and includes outdoor seating and an abundance of parking, with countryside views and proximity to the Granger Creek Nature Trail. Access is supported by Highways 61/151 adjacent to the property and the Highway 52/Southwest Arterial Interchange about a mile away. Dubuque Regional Airport and downtown Dubuque are each about four miles away, supporting an easy commute for employees and tenants.
Improvements between 2018 and 2021 include new rooftop HVAC units (12 total), LED lighting upgrades, a fully replaced roof, and new carpet, along with a paint refresh. In 2021, air purification units were added to all HVAC units.
The building sits on 6.83 acres in Dubuque’s Technology Park and includes outdoor seating and an abundance of parking, with countryside views and proximity to the Granger Creek Nature Trail. Access is supported by Highways 61/151 adjacent to the property and the Highway 52/Southwest Arterial Interchange about a mile away. Dubuque Regional Airport and downtown Dubuque are each about four miles away, supporting an easy commute for employees and tenants.
Key Highlights
- Approximately 27,525 SF office building with extensive glass lines
- 100% leased office building with forced‑air heating and central air
- 6.83‑acre site in Dubuque’s Technology Park
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
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Yes
Paved road 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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 1999-built office building with extensive glass lines, 100% leased, and central air with forced-air HVAC.
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 SF office building with extensive glass lines; 100% leased office building with forced‑air heating and central air; 6.83‑acre site in Dubuque’s Technology Park
