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    1805 Brady St Davenport, IA 52803

    Sponsored
    For Sale
    $5,650,000

    High-yield Walgreens NNN lease

    Property size:
    14,820 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 14,820 square foot, single-story Class A Walgreens pharmacy located at 1805 N Brady St, Davenport, IA 52803. The property sits on a 1.63-acre lot zoned C-2 (Corridor Commercial District) and boasts a prime location on US Highway 61, experiencing a high daily traffic volume of 37,600 vehicles. Built in 2008, this well-maintained building is currently under an absolute NNN lease with a corporate guarantee from Walgreens, minimizing owner responsibilities. The lease commenced January 19, 2009, and extends to January 31, 1984 (Lease Expiration date appears to be an error, and should be reviewed). The current remaining lease term is 60 years. The property offers a substantial net operating income (NOI) of $435,000, resulting in an attractive 7.70% cap rate. The asking price is $5,650,000, translating to a price per square foot of $381.24. This location benefits from strong tenant synergy, with neighboring businesses including St. Ambrose University, Aldi, Ascentra Credit Union, KFC, Village Inn, and Domino's. Davenport, part of the Quad Cities MSA with a population of 380,000, provides a robust and stable market for this investment-grade property. The property features no rent bumps and no lease options are available.

    Property Features for 1805 Brady St

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,820 SF
    Class
    A
    Lot Size
    71,003 SF

    Building Details

    Year Built
    2008
    Buildings
    1
    Stories
    1

    HighLights

    • Investment‑grade Walgreens tenant (S&P: BBB-).
    • Absolute NNN lease; no owner responsibilities.
    • 2008‑built, well‑maintained building.
    • High‑traffic location on US Highway 61 (Brady St), 37,600 VPD.
    • Strong tenant synergy with nearby St. Ambrose University, Aldi, Ascentra Credit Union, KFC, Village Inn, and Domino's.
    • Located in Davenport, IA, part of the Quad Cities MSA (380,000 population).
    Property Profile Location Intelligence

    Current Use by Public Records

    Karla K. Ruiter, ... Pharmacy Walgreens Photo Passport Photo Processor Kevin D. Bobst, ... Pharmacy COVID-19 Drive-thru Testing ... Pharmacy FedEx OnSite Mailing Service

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Davenport
    County
    Scott
    State
    Iowa
    Longitude
    -90.573759725007
    Latitude
    41.537725521821

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    FAQs

    What type of property is this?
    Individual retail property - High-yield Walgreens NNN lease
    Where is this individual retail property located?
    The property is located at 1805 Brady St Davenport, IA.
    What is the asking price?
    The asking price for this property is $5,650,000.
    What are key features of this property?
    This property features: Investment-grade Walgreens tenant (S&P: BBB-).; Absolute NNN lease; no owner responsibilities.; 2008-built, well-maintained building.
    Request Owner's contact information
    1805 Brady St Davenport, IA 52803
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1805 Brady St Davenport, IA 52803
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