Multi-Tenant Flex
For Sale
$2,000,000
5217 & 5233 Grand Ave, Davenport, IA 52807
Two-building commercial property with dock and overhead door access for varied business operations.
Property Size23,640 SF
Lot Size4.46 Acres
Price / SF$84.60
Days on Market49
Property Features for 5217 & 5233 Grand Ave
General Information
Standard status
Active
Size
23,640 SF
Lot size
4.46 Acres
Building Details
Year Built
1993
Buildings
2
Tenancy
Multi
Listing Agency:
Mel Foster Co. Commercial
Listed By:
Thad Denhartog, SIOR · License #B39654000/471.002649
(563) 650-8676
Source:
Realtopiare
Added: Sep 12
Changed: Oct 25
Last Checked: Oct 7 at 1:13PM
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 Mel Foster Co. Commercial
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Investment Insights
Based on property information with market context.
Hillcrest Commons is a 23,640-square-foot flex property comprising two multi-tenant buildings, each measuring 11,820 square feet. Constructed in 1993, the improvements sit on 4.46 acres and include both overhead doors and dock doors, providing functional access for a range of commercial and industrial activities. Reported occupancy is 0.635.
The property is located at 5217 & 5233 Grand Ave in Davenport, Iowa, near the intersection of 53rd Street and Grand Avenue. Its two-building layout provides separate leasable areas within a larger commercial property, while the combination of dock and overhead access supports different operational requirements.
The property is located at 5217 & 5233 Grand Ave in Davenport, Iowa, near the intersection of 53rd Street and Grand Avenue. Its two-building layout provides separate leasable areas within a larger commercial property, while the combination of dock and overhead access supports different operational requirements.
Key Highlights
- 23,640 SF across two 11,820 SF multi‑tenant buildings
- 4.46‑acre commercial property in Davenport, IA
- Both overhead doors and dock doors included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$141,485
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,829,700
$2.8M
Cap Rate 7%
$2,021,214
$2.0M
Cap Rate 9%
$1,572,056
$1.6M
Market Conditions
NOI Build-Up for 23,640 SF
Gross rent
$212.8K $9.00/SF
− Vacancy
−$10.6K −$0.45/SF
EGI
$202.1K $8.55/SF
− OpEx
−$60.6K −$2.56/SF
NOI
$141.5K $5.98/SF
Area
Davenport, IA
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,829,700
Cap Rate 7%
$2,021,214
Cap Rate 9%
$1,572,056
Alternative Uses
Best Use
Flex RnD
$2.97M
$2.60M – $3.47M
NOI $207,994 @ 7.0% cap · market cap 10.40%
Second Best
Warehouse
$2.63M
$2.30M – $3.07M
NOI $184,222 @ 7.0% cap · market cap 9.21%
Theoretical Best
Office A
$5.10M
$4.46M – $5.95M
NOI $357,164 @ 7.0% cap · market cap 17.86%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 52807, IA
15,851
Population
8,136
Households
1.9
Avg Household Size
40
Median Age
43%
College-Educated
94%
High-School Grad
28.6 sq mi
ZIP Area
554
Density / Sq Mi
$71,866
Median Household Income
$44,203
Median Earnings
$910
Median Rent
$323,900
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Two-building commercial property with dock and overhead door access for varied business operations.
Where is this flex space located?
The property is located at 5217 & 5233 Grand Ave Davenport, IA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 23,640 SF across two 11,820 SF multi‑tenant buildings; 4.46‑acre commercial property in Davenport, IA; Both overhead doors and dock doors included
