1655 Kimberly RdDavenport, IA 52806

Property Details for 1655 Kimberly Rd

Year built

1997

Lot size

1.65 AC

Property size (Sq ft)

17,200 SF

Property type

Retail space

APN

M1511-03B

APU

M151103B

Description

This exceptional investment opportunity presents a fee-simple ownership of a 17,200-square-foot CVS Pharmacy located at 1655 W Kimberly Rd, Davenport, IA 52806. The property boasts a strong 15.9-year remaining lease term (commencing October 7, 2020 and expiring October 6, 2040) with eight 5-year renewal options, each including a 5% rent increase. The absolute net lease structure (NNN) ensures zero landlord responsibilities. The property features a drive-thru and benefits from a prime location at a signalized intersection with high traffic counts exceeding 31,234 vehicles daily. The building, constructed in 1988, sits on a 1.61-acre lot and is classified as Class A. The tenant, CVS Pharmacy, is a credit-rated, Fortune 500 company providing a corporate guarantee. The property's strong financials include a $3,831,440 asking price, a 5.00% cap rate, and a net operating income (NOI) of $191,572. The location enjoys excellent visibility and proximity to major amenities, including Genesis Medical Center, Select Medical Hospital, and NorthPark Mall. The property's strong demographics, with a population exceeding 129,128 within a 5-mile radius, further enhance its investment appeal. This CVS Pharmacy location also holds a liquor license, expanding its revenue streams. The property's size and location make it an attractive investment for discerning buyers seeking a stable, high-yield, long-term net lease opportunity.

Location Insight

City

Davenport

County

Scott

State

Iowa

Latitude

41.5594

Longitude

-90.6001

CBSA code

19340

CBSA name

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

Property Tax & Assessments

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