Davenport Office Building For
For Sale
$5,500,000
908 W 35TH Street, Davenport, IA 52806
Sale-leaseback investment opportunity with a regional accounting firm.
Property Size20,836 SF
Price / SF$263.97
Days on Market259
Property Features for 908 W 35TH Street
General Information
Standard status
Active
Size
20,836 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$85,856
Building Details
Building Size
20,836 SF
Year Built
1989
Stories
1
Listing Agency:
Hawkeye Commercial Real Estate
(563) 344-4295
Listed By:
James Tansey · License #B41332000/471.018117
(563) 344-4295
Source:
Cavanaghrealty
Added: Dec 9, 2025
Changed: Aug 23
Last Checked: Aug 25 at 8:20AM
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 Hawkeye Commercial Real Estate
Investment Insights
Based on property information with market context.
This commercial real estate offering presents a sale-leaseback investment opportunity. The property is an office building with a total size of 20836 square feet. The current tenant is described as a well-respected regional accounting and advisory firm.
Key Highlights
- Sale‑leaseback investment opportunity
- Tenant is a well‑respected regional accounting and advisory firm
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
$236,280
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
4.30%
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%
$4,725,600
$4.7M
Cap Rate 7%
$3,375,429
$3.4M
Cap Rate 9%
$2,625,333
$2.6M
Market Conditions
NOI Build-Up for 20,836 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
$375.0K $18.00/SF
− Vacancy
−$60.0K −$2.88/SF
EGI
$315.0K $15.12/SF
− OpEx
−$78.8K −$3.78/SF
NOI
$236.3K $11.34/SF
Area
Davenport, IA
Vacancy
16.00%
Lease Rate
$18.00 /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%
$4,725,600
Cap Rate 7%
$3,375,429
Cap Rate 9%
$2,625,333
Alternative Uses
Best Use
Office B
$3.38M
$2.95M – $3.94M
NOI $236,280 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $314,800 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
Explore this area
Business Placement
Demographics for 52806, IA
28,191
Population
12,092
Households
2.3
Avg Household Size
38
Median Age
32%
College-Educated
94%
High-School Grad
31.1 sq mi
ZIP Area
906
Density / Sq Mi
$73,682
Median Household Income
$42,744
Median Earnings
$976
Median Rent
$188,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Sale-leaseback investment opportunity with a regional accounting firm.
Where is this office building located?
The property is located at 908 W 35TH Street Davenport, IA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Sale‑leaseback investment opportunity; Tenant is a well‑respected regional accounting and advisory firm
