2020 E Locust St

Investment Overview

Former O’Reilly Auto Parts | Value-Add Retail + Excess Land | Davenport, IA Description: Former O’Reilly Auto Parts retail building available for sale in a high-visibility corridor in Davenport, Iowa. This 6,776 SF steel-frame building, constructed in 2001, sits on a total of 3.21 acres and offers a compelling value-add or owner-user opportunity. The property features approximately 1.56 acres of improved site area with an additional 1.65 acres of excess land, creating significant upside potential for future development. The adjacent parcel is currently zoned R- MF (Multi-Family Residential), allowing for a variety of compatible uses including residential, mixed-use, or limited commercial applications. Located along E Locust Street with traffic counts of approximately 17,800 vehicles per day, the site offers excellent exposure and accessibility. The building is currently vacant and ready for repositioning. A previously crushed sewer line has been fully repaired and is now functional, removing a major prior concern for buyers. This offering is priced below assessed value, presenting an attractive basis compared to both replacement cost and market comps. Property Highlights: 6,776 SF retail building (former auto parts store) Built in 2001 | Steel frame construction 3.21 total acres 1.56 acres improved 1.65 acres excess land Zoned Commercial + adjacent R-MF (Multi-Family) Traffic count: ~17,800 VPD Concrete parking lot (~19,200 SF) 1 overhead door (6’ x 7’) Vacant – immediate occupancy Sewer line repaired and fully operational Priced below assessed value ($912,190) Financials: Price: $859,031 Taxes: $27,720/year Investment Highlights: Below-market basis vs. recent comparable sales Strong redevelopment or adaptive reuse potential Excess land creates additional value and exit strategies Ideal for owner-user, investor, or developer Located in established retail corridor in Davenport Note: Had a crushed sewer line and that is now repaired and fully functional. Taxes: $27,720 / yr. Bonus adjacent lot currently zoned for multi-family. Assessor Site: https://beacon.schneidercorp.com/Application.aspx?AppID=1024&LayerID=21532&PageTypeID=4&PageID=9191&Q=1962953889&KeyValue=D0063-11