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    Property profile & analytics

    311 3rd St Davenport, IA 52801-1229

    • Office buildings
    • 27,694 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimation
    $960,000
    Last Sale
    May 04, 2022
    $999,500
    Location Intelligence
    Property ID
    US25-2557590
    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.

    Current Use by Public Records

    • The Dorothea Apartments / Apartment Building
    • Quad City Solar / Solar Energy Company

    Property Details for 311 3rd St

    Year built
    1910
    Lot size
    0.26 lot acres
    Property size
    27,694 SF
    Property type
    Office buildings
    APN
    L0006-27
    APU
    L000627

    Description

    Exceptional value-add opportunity in Davenport, Illinois, presents a 24-unit multifamily property with two ground-floor commercial spaces. This Class C building, situated on a 11,540 square foot lot at 311 W 3RD Street (APN L0006-27), boasts a total of 27,694 square feet across four stories. Constructed in 1910 and significantly renovated in 2022, 2023, and 2024, the property offers a mix of six studio and eighteen one-bedroom apartments. The building currently enjoys an 87% occupancy rate, generating a substantial Net Operating Income (NOI) of $174,093, resulting in an attractive 9.70% capitalization rate. The asking price is $1,795,000. On-site laundry facilities cater to residents, while six parking spaces are available for the commercial units, supplemented by ample on-street parking. Tenants are responsible for their gas and electric utilities. The property is zoned C-D and is owned by an LLC. This is a for-sale-by-owner opportunity. Don't miss this chance to acquire a strong-performing multifamily asset with significant upside potential in a thriving downtown location.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $895,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,005,000
      6.5%
      $1,040,000
      7%
      $940,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $920,000
      Geo Method
      $1,015,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,010,000
      Retail
      $980,000
      Mixed-Use
      $1,115,000
      Hospitality
      $820,000
      Educational
      $825,000
      Residential Income
      $1,015,000
      Energy
      $835,000
      Income-Based Land
      $930,000
      Food Service
      $895,000

    Location Insight

    • Map
    • Local Demand
    City
    Davenport
    County
    Scott
    State
    Iowa
    Longitude
    -90.5777
    Latitude
    41.5221
    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
    $20,268
    $171,750
    $826,620
    $998,370
    -
    $171,750
    $826,620
    $998,370

    Comparable in this City

    • Value Estimation by Request
      122,806 SF

      500 3rd St

      OFFICE BUILDING • 122,806 SF
      500 3rd St, Davenport, IA 52801-1708
      View Details
    • Value Estimation
      $415,000
      4,500 SF

      101 2nd St, Unit 2

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 4,500 SF
      101 2nd St, Davenport, IA 52801-1813
      View Details
    • Value Estimation by Request
      11,791 SF

      101 2nd St, Unit 3

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 11,791 SF
      101 2nd St, Davenport, IA 52801-1813
      View Details
    • Value Estimation by Request
      143,006 SF

      203 3rd St

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 143,006 SF
      203 3rd St, Davenport, IA 52801-1901
      View Details
    • Value Estimation
      $375,000
      2,457 SF

      101 2nd St, Unit 2

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 2,457 SF
      101 2nd St, Davenport, IA 52801-1813
      View Details
    • Value Estimation
      $375,000
      2,441 SF

      101 2nd St, Unit 2

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 2,441 SF
      101 2nd St, Davenport, IA 52801-1813
      View Details

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    Similar Nearby for Lease

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      Prime Office/Retail, 2,000 sq ft
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    • $8 SF/Yr
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      Class B Office, Multiple Suites Available
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    • $12 SF/Yr
      12,000 SF

      Historic Davenport Office Building

      Downtown Davenport, IA: 12,000 SF Office
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    • $8 SF/Yr
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      Davenport Office Space Available

      Flexible workspace solutions in downtown Davenport.
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    • $9 SF/Yr
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      Downtown Davenport Office Space

      Prime office space, flexible layouts, ample parking.
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      View Details
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    311 3rd St
    Davenport, IA 52801-1229
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    Realmo Value Estimation

    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.

    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.

    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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