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    114 Myrtle St Davenport, IA 52802-1433

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    114 Myrtle St Davenport, IA 52802-1433

    View on Map
    • Strip malls
    • 8,780 SF
    • 0.87 lot acres
    Off-Market
    Property ID
    US25-0671112
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CHILL VIBEZ BAR / Bar & Pub / Restaurant
    • El Tikal Guatemalan Restaurant / Restaurant
    • NIYO'S BEAUTY&HAIR BRAIDING / (Bike/Boat/Book/etc) Store / Cosmetic Store
    • Sisters Hair Braiding / Hair Salon / Nail Salon
    • Davi’s Good ‘Ol Fashioned Soul Food / Restaurant

    Property Details for 114 Myrtle St

    Year built
    2014
    Lot size
    0.87 lot acres
    Property size
    8,780 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    L0015-01A
    APU
    L001501A

    Description

    This exceptional 8,780 square foot commercial property, situated on 0.87 acres at 114 Myrtle Street in Davenport's vibrant downtown, offers a unique blend of office and retail space. Built in 2014, the single-building property boasts 72 parking spaces, a significant advantage in this high-traffic area. Currently, 7,500 square feet are available for lease, with a maximum contiguous space of 2,500 square feet. The flexible layout is ideal for a variety of uses, including retail establishments, salons, or office spaces. Its prime location on a busy corner, with excellent visibility on River Drive, ensures high foot traffic and exposure. The property's proximity to John O'Donell Stadium, River Edge, and Centennial Park adds to its appeal. The M-2 zoning provides flexibility for potential tenants. The property features one suite, with the available space ranging from 1,400 to 2,500 square feet. This is a rare opportunity to secure a well-located, versatile commercial space in a thriving downtown setting. The ample parking and convenient location make this property an attractive option for businesses seeking a high-profile presence in Davenport. The property's APN is L0015-01A, located in Scott County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $393,000
      Market price range: $240k - $528k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $750,000
      Current use
      RESTAURANT
      $690,000
      Change: -8% Conversion: Difficult
      RETAIL STORES
      $640,000
      Change: -15% Conversion: Easy
      WAREHOUSE, STORAGE
      $625,000
      Change: -17% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Davenport
    County
    Scott
    State
    Iowa
    Longitude
    -90.5892
    Latitude
    41.5205
    CBSA code
    19340
    CBSA name
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $33,198
    $179,760
    $983,160
    $1,162,920
    -
    $0.00
    $0.00
    $1,256,380

    Comparable in this City

    • Value Estimation by Request
      10,443 SF

      1610 Rockingham Rd

      SHOPPING CENTER, STRIP CENTER • 10,443 SF
      1610 Rockingham Rd, Davenport, IA 52802-1140
      View Details
    • Value Estimation by Request
      4,400 SF

      1115 2nd St

      SHOPPING CENTER, STRIP CENTER • 4,400 SF
      1115 2nd St, Davenport, IA 52802-1421
      View Details
    • Value Estimation
      $935,000
      16,012 SF

      2255 Rockingham Rd

      SHOPPING CENTER, STRIP CENTER • 16,012 SF
      2255 Rockingham Rd, Davenport, IA 52802-2860
      View Details
    • Value Estimation by Request
      6,870 SF

      3112 Rockingham Rd

      SHOPPING CENTER, STRIP CENTER • 6,870 SF
      3112 Rockingham Rd, Davenport, IA 52802-2071
      View Details
    • Value Estimation by Request
      2,618 SF

      530 Vine St

      RETAIL STORES (PERSONAL SERVICES) • 2,618 SF
      530 Vine St, Davenport, IA 52802-3459
      View Details
    • Value Estimation by Request
      1,775 SF

      3153 Rockingham Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,775 SF
      3153 Rockingham Rd, Davenport, IA 52802-2066
      View Details

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      Iowa Warehouse & Office Space for Sale
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    • $250,000
      25,000 SF

      Versatile Commercial Property on River Drive

      Multi-use commercial property with warehouse, office, and redevelopment potential.
      1609 West River Dr, Davenport, IA 52802
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      Davenport Warehouse - Great Location!

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    • Contact for pricing
      7,678 SF

      7,678 SF Warehouse For Sale

      Warehouse with drive-in access and gas heating units for sale.
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    114 Myrtle St
    Davenport, IA 52802-1433
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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