1398 Central AveDubuque, IA 52001

Property Details for 1398 Central Ave

Year built

1922

Lot size

1.29 AC

Property size (Sq ft)

42,288 SF

Property type

Banks

APN

10-24-413-014

APU

1024413014

Description

This exceptional Class A mixed-use property, located at 1398 Central Avenue in the heart of Dubuque, Iowa, presents a unique investment opportunity. The 49,080 square foot building, constructed in 1922 with significant renovations in 2018, boasts a three-story design and sits on a 1.99-acre lot. Currently operating as a bank, the property features a grand main floor lobby, ornate details, high ceilings, a passenger elevator, and original bank vaults. The second floor underwent extensive updates in 2018-2019 and includes existing furniture. The C-4 zoning allows for diverse uses, including commercial, multi-family conversion, condos, and mixed-use development. The sale includes six parcels (1024413014, 1024434005, 1024429004, 1024429005, 1024429003, 1024408020) providing 148 parking spaces and a storage garage. Two parcels feature billboards generating additional income. The asking price is $3,300,000 ($67.24/sq ft). An adjacent property (1301 Central Avenue) is also available for purchase, connected via an underground conditioned walkway included in this sale. This presents a rare campus development opportunity. The property's prime downtown location offers easy access to dining, retail, and entertainment. City incentives may be available. Floor plans are available from the Dubuque County Assessor's site.

• CAP approach

  CAP return

  Valuation

  6%

  $11,224,333

  6.5%

  $10,360,922

  7%

  $9,620,856

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,818,895

  Geo Method

  $13,880,190

• Alternative Use

  Use

  Valuation

  Residential

  $8,739,826

  Hospitality

  $8,005,634

  Educational

  $6,660,593

  Medical

  $6,889,661

  Retail

  $10,360,922

Location Insight

City

Dubuque

County

Dubuque

State

Iowa

Latitude

42.5061

Longitude

-90.667

CBSA code

20220

CBSA name

DUBUQUE, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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