Dairy Freez: From Repairing to Revitalizing a Neighborhood Ice Cream Shop

Story and Photos by Jonathan Turner
Loan Product: Small Business Loan

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Jeff Holmes is in the business of making people happy. The neon logo on his soft-serve ice cream joint, Dairy Freez, boldly declares – “Ice cream can solve everything.” And for the easygoing Davenport native, it’s more than a motto -- it’s a mission.

Dairy Freez, located at 3950 Rockingham Road, in the southwest area of Davenport, Iowa, has been a neighborhood staple since 1954 and was formerly known as Tastee Freez. Holmes, who lives in the west end of Davenport, noticed the once-thriving spot was struggling. “They were always closed on Monday, closed early, that sort of thing,” Holmes recalls. He had often told the previous owners’ son, “If you ever want to sell, give me a call.”

That call came in the fall of 2022. With the help of Bridge Investment, Holmes and his wife Shonnie secured the necessary financing to purchase the business. Holmes heard about Bridge Investment from his bank. “I didn’t have enough equity to pull together the whole deal,” he says. “They would only go so much.”

The couple wasted no time revamping the beloved spot. “Most all the property and equipment were in good shape,” Holmes says. They revamped the walk-in cooler, cleaned up the premises, and brought Dairy Freez back to life. Today, the small yet historic restaurant, with its limited outdoor seating, operates from 11 a.m. to 9 p.m. seven days a week, from late March through October. Dairy Freez offers 24 flavors of ice cream, with two special flavors of the week, available for just that week. The menu extends beyond ice cream to include sundaes, a variety of burgers, tenderloins, pizza, hot dogs, nachos, and sodas.

He and his wife basically run it themselves. It serves a true niche in southwest Davenport. In an area with few food options, especially after the 2024 closure of Hy-Vee on Rockingham Road, Dairy Freez fills a much-needed community niche in the community. “Right now, there’s not a lot of food places to eat down here in the west end,” Holmes says, noting the 2024 closure of Hy-Vee on Rockingham. “Talk about ice cream? There’s none."

With the help of Bridge Investment, Holmes and his wife Shonnie secured the necessary financing to purchase the business. Holmes heard about Bridge Investment from his bank. “I didn’t have enough equity to pull together the whole deal,” he says. “They would only go so much.”
- Jeff Holmes, Owner & Operator, Dairy Freez

Beyond his ice cream venture, Holmes runs Holmes Services, his own equipment repair business. His customers include Rhythm City Casino, and area restaurants and 7-11 stores. He used to do sales, but now focuses on repairs only. “I’m just a one-man horse now,” Holmes says, noting he goes as far as Cedar Rapids. He has two grown daughters, including one who runs and does equipment sales for a restaurant supply store in Davenport, similar to his old business

Jeff Holmes, Owner of the Dairy Freez, takes a photo in front of the Dairy Freez located in Davenport, IA.

Quad City Times article published on Dairy Freez acquistion by Jeff & Shonnie Holmes. Per the article, Shonnie is quoted, "I’m getting close to 70 years old. I’m bored. Let’s buy the Tastee Freez." Click on image to read the full story by the Quad City Times.