3717 Fairmount StDavenport, IA 52806

Property Details for 3717 Fairmount St

Year built

1960

Lot size

5.32 AC

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

O1633-10C

APU

O163310C

Description

This exceptional 3.71-acre commercial lot is situated at the highly visible, signalized intersection of Fairmount Street and Hickory Grove Road in Davenport, Iowa. Located directly west of a Super Walmart, this property boasts impressive visibility and accessibility. The lot is zoned C-2, ensuring a wide range of development possibilities. With an approximate daily traffic count of 20,000 vehicles, this location offers unparalleled exposure for businesses. The property is ideally suited for a variety of commercial uses, including retail, restaurants, offices, convenience stores, or other service-related establishments. This prime location benefits from its position within both the Urban Renewal Tax Increment Financing (URTE) and Opportunity Corridor Tax Increment Financing (OCT) areas, making it eligible for city tax exemptions and incentives. The asking price has been reduced to $275,000. The seller is also willing to subdivide the property into two 1.855-acre lots, providing flexibility for potential buyers. This is a rare opportunity to acquire a strategically located commercial parcel in a thriving area of Davenport. The property's size, zoning, and location combine to create an exceptional investment opportunity. Don't miss out on this chance to secure a prominent location in a high-traffic area with significant development potential. The zip code is 52806.

• CAP approach

  CAP return

  Valuation

  6%

  $51,856,496

  6.5%

  $47,867,532

  7%

  $44,448,424

• Comparable approach

  Method

  Valuation

  Relative Method

  $36,446,208

  Geo Method

  $46,758,960

• Alternative Use

  Use

  Valuation

  Residential

  $47,867,532

  Hospitality

  $43,846,404

  Educational

  $36,479,692

  Medical

  $37,734,284

  Retail

  $56,746,188

Location Insight

City

Davenport

County

Scott

State

Iowa

Latitude

41.5575

Longitude

-90.6283

CBSA code

19340

CBSA name

DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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