328 59Th StDavenport, IA 52807

Property Details for 328 59Th St

Year built

1976

Lot size

0.39 AC

Property size (Sq ft)

4,176 SF

Property type

Office buildings

APN

X1201-07B

APU

X120107B

Description

This single-tenant industrial flex space, totaling 4,176 square feet, is available for lease with possession on July 1, 2024. Located at 328 E 59th St, Davenport, IA 52807, this Class B building sits on 0.39 acres and offers excellent access to State Hwy 61 (Brady Street) and US I-80. Built in 1976, the one-story building features 1,656 square feet of office space, including a private office, reception area, training room, and two restrooms. The 2,520-square-foot warehouse area boasts three grade-level drive-in doors (two measuring 9'H x 10'W and one 10'W x 9'H), a floor drain, utility sink, and eye wash station. The property includes ten parking spaces. The zoning is I-1. Taxes are $1.25 per square foot. Base rent is $8.00 per square foot net, plus taxes and insurance of $1.60 per square foot. Tenant is responsible for utilities, janitorial services, snow removal, lawn care, dumpster, and general property maintenance. The previous tenant will vacate on June 30, 2024. This property presents a fantastic opportunity for a business seeking efficient and well-located industrial space in Davenport.

• CAP approach

  CAP return

  Valuation

  6%

  $754,026

  6.5%

  $696,024

  7%

  $646,308

• Comparable approach

  Method

  Valuation

  Relative Method

  $423,961

  Geo Method

  $543,924

• Alternative Use

  Use

  Valuation

  Residential

  $863,070

  Hospitality

  $790,568

  Educational

  $657,743

  Medical

  $680,364

  Retail

  $1,023,156

Location Insight

City

Davenport

County

Scott

State

Iowa

Latitude

41.5802

Longitude

-90.5702

CBSA code

19340

CBSA name

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

Property Tax & Assessments

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