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Property profile & analytics
OFF-MARKET
Estimated value
$13,065,000
Commercial kitchens
111 2nd St Davenport, IA 52801-1501
Individually Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US25-0609325
Property profile
Verified
Property type
Commercial kitchens
Use group
TAKE-OUT RESTAURANT
Year built
1996
Total area
133,712 SF
Lot
2.31 ac (100,704 SF)
APN
L0009-01B
UPID
US25-0609325
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
TRT Alternative Medicine Practice
-
DoubleTree by Hilton Davenport Hotel & Motel
-
Ballroom By Nick Training Center
-
ATM Atm
-
The Phoenix Restaurant & Martini Bar Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.76M
Blend (final)
Blend
$13.07M
Owner & transaction history
Atrium Finance III L P · 20 yrs held
Atrium Finance III L P
since 2005
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$13.9M
+31.5%
Neighborhood: shopping center
$11.5M
+8.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Davenport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Davenport submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$10,545,000
Current use
OFFICE BUILDING
$13,860,000
Change: +31% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$11,450,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$9,735,000
Change: -8% · Conversion: Easy
WAREHOUSE, STORAGE
$9,505,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$13.07M
Range $11.76M – $14.37M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$98 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$520,436
Tax year 2023
Assessed value
$11,000,000
Assessed 2024
Previous assessed
$13,479,060
-18.4% YoY
Effective rate
4.73%
On assessed value
Assessed land
$1,812,670
Assessed improvement
$9,187,330
Land market value
$1,812,670
Improvement market value
$9,187,330
Total market value
$11,000,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial kitchens
Use group
TAKE-OUT RESTAURANT
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
6
Total area
133,712 SF
Lot
2.31 ac (100,704 SF)
APN
L0009-01B
UPID
US25-0609325
Jurisdiction
SCOTT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$10.5M
OFFICE BUILDING
Est. value
$13.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.5M
RETAIL STORES
Est. value
$9.7M
WAREHOUSE, STORAGE
Est. value
$9.5M
RESTAURANT Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Heating
FORCED AIR
Cooling
Yes
Stories
6
Buildings
2
Lot
2.31 ac
Current owner
From public records · entity-resolved
Atrium Finance III L P
Individual
Free & Clear · 20 yrs held
Mailing address
2706 JAMES ST, CORALVILLE, IA 52241-1806
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 6, 2017
—
Bucktown Lodging LLC
—
Deed
related
$14,911 · University Of Iowa Community Cu
Oct 6, 2005
—
Atrium Finance III L P
John Q Hammons Hotels Two L P
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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