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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3425 Locust St Davenport, IA 52807

    • Office buildings
    • 25,157 SF
    • 2.53 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Last Sale
    Dec 13, 2022
    $1,600,000
    Value Estimations
    $1,535,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-1364314
    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

    • Brooks Law Firm / Law Firm
    • Mc Cullough William T / Law Firm
    • Marthen's / Medical Clinic
    • Dr. Samantha Boyd, DDS / Physician

    Property Details for 3425 Locust St

    Year built
    1981
    Lot size
    2.53 lot acres
    Property size
    25,157 SF
    Property type
    Office buildings
    APN
    N2902B15
    APU
    N2902B15

    Description

    This exceptional 3,024 sq. ft. commercial property is situated at the highly visible corner of E Locust Street and Kimberly Road in East Davenport. The single-tenant space, located within a well-maintained building, offers convenient access to I-74, connecting businesses to the entire Quad Cities region. Ample parking and elevator service to the second-floor suite are key features, enhanced by key fob access for added security. The versatile layout includes an open floor plan, large private offices, a spacious kitchenette, and a substantial filing/storage room. Expansive windows provide abundant natural light, creating a bright and productive work environment. Common area restrooms are easily accessible. The C-T zoning allows for a variety of business uses, making this a perfect location for companies seeking high visibility and convenient access to major transportation routes. The property features one building with one suite and is identified by APN N2902B15. This high-traffic location offers excellent exposure and is ideal for businesses seeking a prominent presence in the East Davenport area. The property includes land, office, and retail space, making it a truly versatile investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,435,000
      ML approach
      $1,510,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,155,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Davenport
    County
    Scott
    State
    Iowa
    Longitude
    -90.5234
    Latitude
    41.5379
    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
    $64,430
    $474,310
    $1,635,250
    $2,109,560
    -
    $474,310
    $1,635,250
    $2,109,560

    Comparable in this City

    • Value Estimation
      $9,345,000
      63,359 SF

      518 Locust St

      OFFICE BUILDING • 63,359 SF
      518 Locust St, Davenport, IA 52803-2829
      View Details
    • Value Estimation
      $1,700,000
      19,916 SF

      1410 Perry St

      OFFICE BUILDING • 19,916 SF
      1410 Perry St, Davenport, IA 52803-4527
      View Details
    • Value Estimation
      $1,660,000
      10,368 SF

      531 Main St

      OFFICE BUILDING • 10,368 SF
      531 Main St, Davenport, IA 52803-5202
      View Details
    • Value Estimation
      $695,000
      10,080 SF

      2829 Brady St

      OFFICE BUILDING • 10,080 SF
      2829 Brady St, Davenport, IA 52803-1519
      View Details
    • Value Estimation by Request
      3,040 SF

      316 29th St

      OFFICE BUILDING • 3,040 SF
      316 29th St, Davenport, IA 52803-1609
      View Details
    • Value Estimation
      $1,195,000
      7,448 SF

      1828 Locust St

      OFFICE BUILDING • 7,448 SF
      1828 Locust St, Davenport, IA 52803-2038
      View Details

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      Well-located duplex near transportation and universities, ideal for investors.
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    Similar Nearby for Lease

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      Davenport Office Building For Sale

      Prime Davenport Office Space, 1285 sq ft
      736 Federal St, Davenport, IA 52803
      View Details
    • $13 SF/Yr
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      Midtown Plaza Office Suites

      Davenport, IA Office Space Available
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      View Details
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      Davenport Flex Space - River Drive

      Versatile Commercial Space, Excellent Location.
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      View Details
    • $26 SF/Yr
      20,720 SF

      Davenport Commercial Land Opportunity

      Prime Davenport location, build-to-suit potential.
      321 Locust St, Davenport, IA 52803
      View Details
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    3425 Locust St
    Davenport, IA 52807
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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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