1655 Kimberly Rd Davenport, IA 52806-5532
- Retail space
- 17,200 SF
- 1.65 lot acres
Current Use by Public Records
- CVS Photo / Print Shop / Digital Printer
- CVS / Cosmetics Store / Greeting Card Shop
- UPS Access Point location / Shipping And Mailing Service / Mailing Service
- Kellie Byrd / Pharmacy
- MoneyGram / Money Transfer Service
Property Details for 1655 Kimberly Rd
- Year built
- 1997
- Lot size
- 1.65 lot acres
- Property size
- 17,200 SF
- Property type
- Retail space
- APN
- M1511-03B
- APU
- M151103B
Description
This exceptional investment opportunity presents a fee-simple ownership of a 17,200-square-foot CVS Pharmacy located at 1655 W Kimberly Rd, Davenport, IA 52806. The property boasts a strong 15.9-year remaining lease term (commencing October 7, 2020 and expiring October 6, 2040) with eight 5-year renewal options, each including a 5% rent increase. The absolute net lease structure (NNN) ensures zero landlord responsibilities. The property features a drive-thru and benefits from a prime location at a signalized intersection with high traffic counts exceeding 31,234 vehicles daily. The building, constructed in 1988, sits on a 1.61-acre lot and is classified as Class A. The tenant, CVS Pharmacy, is a credit-rated, Fortune 500 company providing a corporate guarantee. The property's strong financials include a $3,831,440 asking price, a 5.00% cap rate, and a net operating income (NOI) of $191,572. The location enjoys excellent visibility and proximity to major amenities, including Genesis Medical Center, Select Medical Hospital, and NorthPark Mall. The property's strong demographics, with a population exceeding 129,128 within a 5-mile radius, further enhance its investment appeal. This CVS Pharmacy location also holds a liquor license, expanding its revenue streams. The property's size and location make it an attractive investment for discerning buyers seeking a stable, high-yield, long-term net lease opportunity.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $4,290,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $4,040,000
- 6.5%
- $4,425,000
- 7%
- $3,725,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,985,000
- Geo Method
- $4,110,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,650,000
- Retail
- $3,680,000
- Mixed-Use
- $4,200,000
- Hospitality
- $4,730,000
- Educational
- $4,480,000
- Residential Income
- $4,565,000
- Energy
- $4,330,000
- Income-Based Land
- $4,775,000
- Food Service
- $3,805,000
Location Insight
- Map
- Local Demand
- City
- Davenport
- County
- Scott
- State
- Iowa
- Longitude
- -90.6001
- Latitude
- 41.5594
- CBSA code
- 19340
- CBSA name
- DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA
