1805 Brady St Davenport, IA 52803-4729

This exceptional investment opportunity presents a 14,820 square foot, single-story Class A Walgreens pharmacy located at 1805 N Brady St, Davenport, IA 52803. The property sits on a 1.63-acre lot zoned C-2 (Corridor Commercial District) and boasts a prime location on US Highway 61, experiencing a high daily traffic volume of 37,600 vehicles. Built in 2008, this well-maintained building is currently under an absolute NNN lease with a corporate guarantee from Walgreens, minimizing owner responsibilities. The lease commenced January 19, 2009, and extends to January 31, 1984 (Lease Expiration date appears to be an error, and should be reviewed). The current remaining lease term is 60 years. The property offers a substantial net operating income (NOI) of $435,000, resulting in an attractive 7.70% cap rate. The asking price is $5,650,000, translating to a price per square foot of $381.24. This location benefits from strong tenant synergy, with neighboring businesses including St. Ambrose University, Aldi, Ascentra Credit Union, KFC, Village Inn, and Domino's. Davenport, part of the Quad Cities MSA with a population of 380,000, provides a robust and stable market for this investment-grade property. The property features no rent bumps and no lease options are available.