Dave & Buster’s-Anchored Shopping
5248 5250 5266 Elmore Avenue, Davenport, IA 52807
For Sale
$9,500,000
Renovation work since 2022 included a new roof.
Property Size47,871 SF
Price / SF$198.45
Days on Market47
Property Features for 5248 5250 5266 Elmore Avenue
General Information
Standard status
Size
Property subtype
Site & Location
Anchor Co-Tenants
Traffic Count
Additional Details
Cap Rate
Amenities
100 Percent Occupied by Three Tenants with Triple-Net Leases
Significant Capital Investment to BioLife and Dave & Buster's Units - New Roof, New HVAC Units and Extensive Tenant Build-Outs
Dave & Busters Occupies 66.97 Percent on a New Fifteen Year Triple Net Lease with Eight Percent Rent Increases Every Five Years
BioLife Occupies 32.26 Percent on a Triple Net Lease Through March 2033 with a 6.45 Percent Rent Increase in 2028
Extremely Dense Retail Corridor with Great Visibility from Elmore Avenue (Over 25,000 Vehicles Per Day)
Building Details
Building Size
Year Built
Listing Agency:
Minneapolis Office
Listed By:
Jon Ruzicka
(952) 852-9700
Source:
Marcusmillichap
Added: Sep 26
Changed: Oct 26
Last Checked: Nov 10 at 5:03AM
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 Minneapolis Office
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2002, this 47,871-square-foot shopping center has undergone a complete renovation since 2022, including a new roof. Dave & Buster’s is the anchor tenant, with its lease scheduled to begin in January 2026 and run through January 2041. The lease provides for 8.00% increases every five years.
The center fronts Elmore Avenue, which carries more than 25,000 vehicles per day. More than 133,000 residents live within five miles. An adjacent property with three units occupied by Plato’s Closet, Weight Watchers and Style Encore is also available for sale.
The center fronts Elmore Avenue, which carries more than 25,000 vehicles per day. More than 133,000 residents live within five miles. An adjacent property with three units occupied by Plato’s Closet, Weight Watchers and Style Encore is also available for sale.
Key Highlights
- 47,871 square feet; built in 2002
- Complete renovation since 2022 included a new roof
- Dave & Buster’s lease runs January 2026 through January 2041, with 8.00% increases every five years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$462,434
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,248,680
$9.2M
Cap Rate 7%
$6,606,200
$6.6M
Cap Rate 9%
$5,138,156
$5.1M
Market Conditions
NOI Build-Up for 47,871 SF
Gross rent
$718.1K $15.00/SF
− Vacancy
−$57.4K −$1.20/SF
EGI
$660.6K $13.80/SF
− OpEx
−$198.2K −$4.14/SF
NOI
$462.4K $9.66/SF
Area
Davenport, IA
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,248,680
Cap Rate 7%
$6,606,200
Cap Rate 9%
$5,138,156
Alternative Uses
Best Use
Retail
$6.61M
$5.78M – $7.71M
NOI $462,434 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.33M
$9.04M – $12.05M
NOI $723,258 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
25,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
825k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 49%
Dining 19%
Shops & Services 18%
Electronics 7%
Target
Superstores
153,452 visits/mo
0.2 miles
Walmart
Superstores
149,492 visits/mo
0.5 miles
Costco Wholesale
Superstores
101,492 visits/mo
0.3 miles
Raising Cane's Chicken Fingers
Dining
52,908 visits/mo
0.3 miles
Costco Gasoline
Shops & Services
45,530 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Heritage Place Inc — 2406 E 53rd St Ste 1, Davenport, IA 52807
- Coin Cloud Bitcoin ATM — 3020 e 53rd st, davenport, ia 52807
- Sweet Tooth Snacks — 3012 E 53rd St, Davenport, IA 52807
- North Ridge Shopping Center — 4026 E 53rd St, Davenport, IA 52807
- Davenport Commons — 5811 Elmore Avenue, Davenport, IA 52807
Frequently Asked Questions
What type of property is this?
Shopping center - Renovation work since 2022 included a new roof.
Where is this shopping center located?
The property is located at 5248 5250 5266 Elmore Avenue Davenport, IA.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: 47,871 square feet; built in 2002; Complete renovation since 2022 included a new roof; Dave & Buster’s lease runs January 2026 through January 2041, with 8.00% increases every five years
