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    601 2Nd St Davenport, IA 52801

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    601 2Nd St Davenport, IA 52801

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    • Commercial real estate
    Off-Market
    Property ID
    US25-1245868
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bowstring Lofts / Apartment Building

    Property Details for 601 2Nd St

    Property type
    Commercial real estate

    Description

    This exceptional commercial property at 601 W 2nd Street in Davenport, IA, offers a unique opportunity for a variety of businesses. The single-tenant building encompasses 2,191 square feet and is zoned for commercial use (APN: l0013-08). Its versatile design allows for use as land, office, restaurant, or retail space. The building features high ceilings and abundant natural light, creating a bright and inviting atmosphere. The high-visibility corner location, with full window frontage, ensures excellent exposure to pedestrian and vehicular traffic. While on-street parking is available, the property itself does not include dedicated parking spaces. Its strategic location in the heart of downtown Davenport offers unparalleled access to key amenities and attractions. Just off the Centennial Bridge, it's within two blocks of the River Walk, Freight House Farmers Market, and River Bandit Stadium, providing significant foot traffic and visibility. This one-of-a-kind space presents a rare chance to establish a thriving business in a vibrant and desirable location. The property is a single-suite building, ideal for a business seeking a unique and well-positioned space. This is an excellent opportunity to secure a prominent location in a thriving downtown area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Davenport
    County
    Scott
    State
    Iowa
    Longitude
    -90.5818986
    Latitude
    41.5209971

    Comparable in this City

    • $14 SF/Yr
      2,000 SF

      Bucktown Lofts Commercial Space

      Prime Office/Retail, 2,000 sq ft
      225 2Nd St, Davenport, IA 52801
      View Details
    • $18 SF/Yr
      355 SF

      Davenport Commercial Space: Prime Location

      355 sq ft Office/Retail Space in Bucktown Lofts
      225 2Nd St, Davenport, IA 52801
      View Details
    • $7 SF/Yr
      3,783 SF

      Davenport Commercial Property - Prime Location

      Two Suites, 3,783 sq ft, Iowa
      222 Harrison St, Davenport, IA 52801
      View Details
    • $11 SF/Yr
      25,582 SF

      Downtown Davenport Office Space

      Prime Office, Flexible Suites, Ample Parking
      331 3Rd St, Davenport, IA 52801
      View Details
    • Contact for pricing

      Davenport Office and Retail Space

      Office and retail spaces available for lease in Davenport, Iowa.
      212 N Brady St, Davenport, IA 52801
      View Details
    • $11 SF/Yr
      7,899 SF

      Downtown Davenport Office Space

      Prime office space, flexible layouts, ample parking.
      331 3Rd St, Davenport, IA 52801
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      22,912 SF

      Historic Redstone Building Restaurant Space

      Restaurant space in downtown Davenport's iconic Redstone Building.
      131 W 2Nd St, Davenport, IA 52801
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    • $1,800,000
      25,664 SF

      Historic Multifamily Project in Davenport

      Partially renovated multifamily property in excellent downtown location.
      401 West 4Th St, Davenport, IA 52801
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    • $780,000
      10,692 SF

      Downtown Davenport Commercial Building

      Multi-tenant investment opportunity, 10,692 sq ft.
      207 2Nd St, Davenport, IA 52801
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      2,000 SF

      Bucktown Lofts Commercial Space

      Prime Office/Retail, 2,000 sq ft
      225 2Nd St, Davenport, IA 52801
      View Details
    • $18 SF/Yr
      355 SF

      Davenport Commercial Space: Prime Location

      355 sq ft Office/Retail Space in Bucktown Lofts
      225 2Nd St, Davenport, IA 52801
      View Details
    • $7 SF/Yr
      3,783 SF

      Davenport Commercial Property - Prime Location

      Two Suites, 3,783 sq ft, Iowa
      222 Harrison St, Davenport, IA 52801
      View Details
    • $11 SF/Yr
      25,582 SF

      Downtown Davenport Office Space

      Prime Office, Flexible Suites, Ample Parking
      331 3Rd St, Davenport, IA 52801
      View Details
    • Contact for pricing

      Davenport Office and Retail Space

      Office and retail spaces available for lease in Davenport, Iowa.
      212 N Brady St, Davenport, IA 52801
      View Details
    • $11 SF/Yr
      7,899 SF

      Downtown Davenport Office Space

      Prime office space, flexible layouts, ample parking.
      331 3Rd St, Davenport, IA 52801
      View Details
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    601 2Nd St
    Davenport, IA 52801
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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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