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    131 2Nd St Davenport, IA 52801

    Sponsored
    For Sale
    $399,000

    Prime Location, Restaurant Space, $399,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a first-floor restaurant condominium for sale within the prestigious Historic Redstone Building in Davenport, Iowa. Currently housing the operational Lemonade Stand Restaurant, this 3,703 square foot space (approximate, post-subdivision) offers an open floor plan ideal for dining, a sizable bar area, a stage, and a fully equipped kitchen. A substantial basement area adds further utility, complete with a second kitchen, walk-in cooler, and freezer. The prime downtown location boasts walkability to theaters, hotels, shops, the Mississippi River, and numerous other amenities. The building itself features a convenient elevator, adjacent city ramp access, and covered parking. This property is perfectly suited for a variety of food service businesses, including restaurants, bars, quick-service restaurants (QSRs), or coffee shops. The building's diverse tenant mix includes the Garrison Restaurant on the main level and thriving office spaces on the second and fourth floors, ensuring a vibrant and active environment. The condo unit will be a newly subdivided parcel. This is a rare chance to own a piece of Davenport's vibrant downtown core.

    Property Features for 131 2Nd St

    General Information

    Property type
    Restaurants

    Building Details

    Buildings
    1

    HighLights

    • $399,000 asking price.
    • 1st‑floor restaurant condo in Davenport, IA's historic Redstone Building.
    • 0.26‑acre lot, 3,703 sq ft (approx.), including basement space.
    • Currently operating restaurant; ideal for owner‑occupancy or investment.
    • Prime downtown location near amenities, Mississippi River, and parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Lemonade Stand Restaurant Restaurant Love Horoscope Psychic ... Psychic Vantage Architects LLC Architecture Firm Estes Construction Construction Company

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Law Firm Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Davenport
    County
    Scott
    State
    Iowa
    Longitude
    -90.5751843
    Latitude
    41.5210831

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    FAQs

    What type of property is this?
    Restaurant - Prime Location, Restaurant Space, $399,000
    Where is this restaurant located?
    The property is located at 131 2Nd St Davenport, IA.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: $399,000 asking price.; 1st-floor restaurant condo in Davenport, IA's historic Redstone Building.; 0.26-acre lot, 3,703 sq ft (approx.), including basement space.
    Request Owner's contact information
    131 2Nd St Davenport, IA 52801
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    Davenport, IA 52801
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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
    131 2Nd St Davenport, IA 52801
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