1805 Brady St Davenport, IA 52803

Property Details for 1805 Brady St

Year built

2008

Lot size

1.63 lot acres

Property size

14,736 SF

Property type

Retail space

APN

G0008-16A

APU

G000816A

Description

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.

Location Insight

City

Davenport

County

Scott

State

Iowa

Longitude

-90.5734

Latitude

41.5378

CBSA code

19340

CBSA name

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

Property Tax & Assessments