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    1536 W Locust

    Davenport, IA 52804
    • $189,000
    • STATUS: Active
    • ON SITE: 89 days
    • ID#: QC4214993
    UPDATED: 44 min ago
    $189,000
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    County:
    Area:

    School Ratings & Info

    Description

    Great investment opportunity. Priced at almost an 11% CAP rate and an 18% cash on cash return. Highly visible building on W. Locust St with average daily traffic counts of 15,600. Mixed use space with 2400 sq ft commercial space on main floor and two 1,200 sq ft residential units on the 2nd floor. Currently commercial space is leased for $1,300 per month and one residential unit is rented for $675 per month. 2nd residential unit is currently vacant so it can be shown, but a 1 yr lease starting Oct. 1st for $725 per month was just signed. Basement is currently common space for all tenants with coin operated laundry. Commercial tenant also has access to private storage space. 3rd floor attic offers further storage potential. Off street parking in rear lot provides 12 parking spaces.

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    © 2020 RMLS Alliance, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Paramount Homes QC. Data last updated: 2020-12-03T19:45:06.263.
    www.paramounthomesqc.com/homes/109704402
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    1536 W Locust Davenport, IA 52804

    • Price: $189,000
    • Status: Active
    • Updated: 44 min ago
    • ID#: QC4214993
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    Neighborhood:
    Qcara Area
    County:
    Scott
    Area:
    Qcara Area
    Property Description
    Great investment opportunity. Priced at almost an 11% CAP rate and an 18% cash on cash return. Highly visible building on W. Locust St with average daily traffic counts of 15,600. Mixed use space with 2400 sq ft commercial space on main floor and two 1,200 sq ft residential units on the 2nd floor. Currently commercial space is leased for $1,300 per month and one residential unit is rented for $675 per month. 2nd residential unit is currently vacant so it can be shown, but a 1 yr lease starting Oct. 1st for $725 per month was just signed. Basement is currently common space for all tenants with coin operated laundry. Commercial tenant also has access to private storage space. 3rd floor attic offers further storage potential. Off street parking in rear lot provides 12 parking spaces.
    Property Features

    Annual Taxes 2970 For Lease No For Sale Yes Foreclosure No Sale Rent For Sale Short Sale No Type Commercial/Cie Zoning Commercial

    Listing provided courtesy of Otto Nobis of Ruhl&Ruhl Realtors Davenport.
    © 2020 RMLS Alliance, LLC. All Rights Reserved.


    © 2020 RMLS Alliance, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Paramount Homes QC. Data last updated: 2020-12-03T19:45:06.263.
     
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