$1 Auction - REIT Sale | Former Hy-Vee 3019 Rockingham Rd 35,152 SF Retail Building Davenport, IA 52802 $243,110 CAD ($6.92 CAD/SF)

Marcus & Millichap is pleased to present the opportunity to acquire a vacant, free-standing, single-tenant retail/big box building located at 3019 Rockingham Road in Davenport, Iowa 52802 (the “Property”). Formerly occupied by Hy-Vee Supermarket, the Property is being offered significantly below replacement cost, presenting a compelling opportunity for owner-users or investors to acquire a highly visible retail asset at an attractive basis. FIRST BID MEETS RESERVE!
Constructed in 1971, the Property consists of a ±35,152 SF single-story retail/big box supermarket building situated on a ±2.67-acre parcel (±116,181 SF). The site features a surface parking lot with 144 total spaces, multiple points of ingress and egress, and efficient internal circulation, supporting a variety of retail, grocery, service, or commercial uses. The Property benefits from exceptional frontage and visibility, occupying a full city block with signalized hard-corner frontage along four roads, including ±230 feet along Rockingham Road, a primary retail and commuter corridor carrying ±11,953 vehicles per day, as well as additional frontage along Concord Street (±339 feet, ±3,847 VPD), Faxon Avenue (±361 feet), and Dittmer Street (±369 feet). Positioned within a dense industrial corridor, the Property provides strong exposure and convenient access for both local and pass-through traffic. Previously leased to Hy-Vee on a triple-net (NNN) basis, the asset presents a value-add opportunity through re-tenanting at prevailing market rents, with CoStar estimating retail rental rates in the range of $13 to $16/SF NNN. Zoned C-2, Corridor Commercial District, the site permits a wide range of retail and service-oriented uses, enhancing operational flexibility and long-term redevelopment potential.
The Property is located in Davenport, Scott County, Iowa, within the Davenport-Moline-Rock Island, IA-IL MSA, commonly known as the Quad Cities. The bi-state region serves as a major economic, logistics, healthcare, education, and manufacturing hub along the Mississippi River, with a regional population approaching 400,000 across Davenport, Bettendorf, Rock Island, Moline, and East Moline. The area’s economy is anchored by major employers and institutions including Deere & Company, Rock Island Arsenal, Genesis Health System, Kraft Foods, Nestlé Purina, and St. Ambrose University (2,500+ students), creating a diverse employment base that supports long-term consumer demand and daily-needs activity. The immediate area is characterized by a dense industrial and employment corridor, supporting consistent weekday traffic from workers, vendors, contractors, logistics users, and nearby residents. Located less than ±4-Mi from Downtown Davenport and St. Ambrose University, the Property benefits from access to key regional demand drivers, employment centers, and established neighborhoods throughout western Davenport. The Property is located ±3-Mi from both I-280 and the Centennial Bridge with additional regional access supported by nearby connections to IL-92, U.S. Route 67, I-74, I-80, and I-88, providing connectivity throughout the Illinois and Iowa sides of the Quad Cities. The Property is also positioned within ±15-minutes of Quad Cities International Airport, which serves more than 500,000 passengers annually and has demonstrated strong post-pandemic recovery and year-over-year passenger growth. The Property is located within a stable trade area of over 51k residents within ±3-Mi and over 119k people within ±5-Mi, with an average household income of ±$79,055, providing a solid consumer base to support retail, service, and commercial uses.