Turn-Key Building: Restaurant or
For Sale
Contact for pricing
605 S 10th. St., Burlington, IA 52601
Turn-key building suitable for restaurant, retail, or office use.
Property Size3,716 SF
Price / SF$94.16
Days on Market120
Property Features for 605 S 10th. St.
General Information
Standard status
Active
Size
3,716 SF
Total Parking Spaces
62
Property subtype
Special Purpose
Zoning
Mixed
Occupancy
100%
Building Details
Year Built
1989
Units
1
Listing Agency:
Century 21 Property Professionals
Listed By:
Deb Fowler · License #B39034000
Source:
Crexi
Added: May 12
Changed: Sep 2
Last Checked: Sep 7 at 12:12PM
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 Century 21 Property Professionals
Investment Insights
Based on property information with market context.
This turn-key building presents an opportunity for various business ventures, including a restaurant, retail space, or office. Currently operating as RonDavoo Pizza, the property includes equipment and furnishings. The building has a size of 3716 square feet.
Key Highlights
- Turn‑key building ready for immediate use.
- Includes equipment and furnishings for a restaurant.
- Suitable for restaurant, office, retail, or other business.
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
$31,998
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
9.14%
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%
$639,960
$640.0K
Cap Rate 7%
$457,114
$457.1K
Cap Rate 9%
$355,533
$355.5K
Market Conditions
NOI Build-Up for 3,716 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
$45.5K $12.24/SF
− Vacancy
−$2.8K −$0.76/SF
EGI
$42.7K $11.48/SF
− OpEx
−$10.7K −$2.87/SF
NOI
$32.0K $8.61/SF
Area
Des Moines County, IA
Vacancy
6.20%
Lease Rate
$12.24 /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%
$639,960
Cap Rate 7%
$457,114
Cap Rate 9%
$355,533
Alternative Uses
Best Use
Specialty Retail
$457.1K
$400.0K – $533.3K
NOI $31,998 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$928.6K
$812.5K – $1.08M
NOI $65,000 @ 7.0% cap · market cap 18.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
33k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Groceries 35%
Dining 9%
Home Improvements & Furnishings 2%
Hy-Vee
Groceries
11,783 visits/mo
0.0 miles
Circle K
Shops & Services
5,499 visits/mo
0.3 miles
Dollar General
Shops & Services
5,187 visits/mo
0.4 miles
Dollar Tree
Shops & Services
4,356 visits/mo
0.1 miles
SUBWAY
Dining
2,914 visits/mo
0.5 miles
Demographics for 52601, IA
27,899
Population
14,107
Households
2
Avg Household Size
43
Median Age
24%
College-Educated
94%
High-School Grad
109.3 sq mi
ZIP Area
255
Density / Sq Mi
$57,123
Median Household Income
$35,594
Median Earnings
$921
Median Rent
$125,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turn-key building suitable for restaurant, retail, or office use.
Where is this conventional restaurant located?
The property is located at 605 S 10th. St. Burlington, IA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Turn‑key building ready for immediate use.; Includes equipment and furnishings for a restaurant.; Suitable for restaurant, office, retail, or other business.
