Corner Storefront with River
New
For Sale
$350,000
606 N Cody Rd, Le Claire, IA 52753
C-2 commercial property with original architectural details, a wraparound porch, and flexible space for retail or other approved uses.
Property Size1,920 SF
Price / SF$182.29
Days on Market7
Property Features for 606 N Cody Rd
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Commercial
Zoning
C-2
Additional Details
Corner Location
Yes
Amenities
river views
original stained-glass windows
original wood floors
wrap-around porch
Building Details
Year Built
1915
Listing Agency:
NAI Ruhl Commercial Company
Listed By:
Ethan Simons · License #S65924000/475.178290
(309) 281-9183
Source:
Searchillinoishomesforsale
Added: Sep 7
Changed: Sep 12
Last Checked: Sep 13 at 12:09PM
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 NAI Ruhl Commercial Company
Investment Insights
Based on property information with market context.
Built in 1915, this 1,920-square-foot storefront occupies a corner site and retains original stained-glass windows, wood flooring, and a wraparound porch. The property includes a small paved parking area and a second lot to the north that could support future development or additional parking, subject to applicable requirements. A new roof was installed in 2025, and a retaining wall was added during the Cody Road construction project.
The building has river views and visibility from US Hwy 67, also known as Cody Road. On-street parking was added as part of the same roadway project. C-2 commercial zoning supports a variety of uses. The upper level was previously configured as an apartment and may be convertible back to residential or short-term lodging use, with commercial space below, subject to local zoning and use laws.
The building has river views and visibility from US Hwy 67, also known as Cody Road. On-street parking was added as part of the same roadway project. C-2 commercial zoning supports a variety of uses. The upper level was previously configured as an apartment and may be convertible back to residential or short-term lodging use, with commercial space below, subject to local zoning and use laws.
Key Highlights
- 1,920 SF storefront built in 1915
- C‑2 commercial zoning allows a variety of uses
- Original stained‑glass windows, wood floors, and wrap‑around porch
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
$19,141
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
5.47%
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%
$382,820
$382.8K
Cap Rate 7%
$273,443
$273.4K
Cap Rate 9%
$212,678
$212.7K
Market Conditions
NOI Build-Up for 1,920 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
$29.7K $15.48/SF
− Vacancy
−$2.4K −$1.24/SF
EGI
$27.3K $14.24/SF
− OpEx
−$8.2K −$4.27/SF
NOI
$19.1K $9.97/SF
Area
Scott County, IA
Vacancy
8.00%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$382,820
Cap Rate 7%
$273,443
Cap Rate 9%
$212,678
Alternative Uses
Best Use
Retail
$273.4K
$239.3K – $319.0K
NOI $19,141 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$1.56M
$1.37M – $1.82M
NOI $109,206 @ 7.0% cap · market cap 31.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
5k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 38%
Le Claire
Shops & Services
3,282 visits/mo
0.4 miles
Happy Joe's
Dining
2,048 visits/mo
0.4 miles
Demographics for 52753, IA
6,176
Population
2,489
Households
2.5
Avg Household Size
41
Median Age
38%
College-Educated
96%
High-School Grad
24.7 sq mi
ZIP Area
250
Density / Sq Mi
$100,122
Median Household Income
$56,594
Median Earnings
$1,120
Median Rent
$306,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Cody Rose Flower Co. — 423 N Cody Rd, Le Claire, IA 52753
Frequently Asked Questions
What type of property is this?
Storefront property - C-2 commercial property with original architectural details, a wraparound porch, and flexible space for retail or other approved uses.
Where is this storefront property located?
The property is located at 606 N Cody Rd Le Claire, IA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,920 SF storefront built in 1915; C‑2 commercial zoning allows a variety of uses; Original stained‑glass windows, wood floors, and wrap‑around porch
