1324 Harrison StDavenport, IA 52803

Property Details for 1324 Harrison St

Year built

1930

Construction

FRAME

Lot size

0.17 AC

Property size (Sq ft)

2,076 SF

Property type

Retail space

APN

G0022-05

APU

G002205

Description

This exceptional investment opportunity presents a 2,692 square foot mixed-use commercial building situated on a 0.17-acre lot at 1324 Harrison Street in Davenport, IA. The property boasts a full basement and a separate garage/shop, adding significant versatility. Currently, the building generates substantial rental income from two established tenants. One tenant, a furniture business, occupies a portion of the main building and pays a monthly rent of $1,500. A second tenant occupies a one-bedroom apartment, contributing $800 per month to the property's cash flow. The heated garage/shop, currently used for personal storage, offers further income potential, with a projected rental value of $500 or more per month. This presents a unique opportunity to increase the property's overall return on investment. The existing tenants are on month-to-month leases and are open to remaining, providing immediate and consistent income. However, they are also prepared to vacate, allowing for complete flexibility in future tenant selection and property utilization. The property's prime location and diverse income streams make it an attractive investment for both seasoned and aspiring commercial property owners. The building's adaptable layout and various potential uses cater to a wide range of business ventures. This is a rare chance to acquire a well-maintained, income-producing property in a desirable location. The asking price is $179,700.

• CAP approach

  CAP return

  Valuation

  6%

  $551,024

  6.5%

  $508,638

  7%

  $472,307

• Comparable approach

  Method

  Valuation

  Relative Method

  $531,121

  Geo Method

  $681,406

• Alternative Use

  Use

  Valuation

  Residential

  $429,055

  Hospitality

  $393,012

  Educational

  $326,981

  Medical

  $338,227

  Retail

  $508,638

Location Insight

City

Davenport

County

Scott

State

Iowa

Latitude

41.5337

Longitude

-90.5776

CBSA code

19340

CBSA name

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

Property Tax & Assessments

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