Building Details

Year Built 1997

Listing Agency: Platinum Realty LLC a***@movewithplatinum.com Show Phone

Listed By: Baldeep Dhingra Show Phone

Source: Prometrorealty

Added: Jun 22 Changed: Nov 1 Last Checked: Nov 1 at 1:43AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Platinum Realty LLC

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This self-service car wash property includes three self-service bays, one automatic bay, vacuum stations, and equipment that remains on site and is included in the sale. The facility is not currently operating. Built in 1997, the 3,090-square-foot property sits on a half-acre lot.

The property is located on Highway 65 in Bondurant, Iowa, at 1105 Lincoln Street SE.

Key Highlights

• Three self‑service wash bays and one automatic bay
• On‑site vacuum stations
• Equipment currently at the property is included in the sale

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,500

Cap Rate

7.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$570,000 $570.0K

Cap Rate 7%

$407,143 $407.1K

Cap Rate 9%

$316,667 $316.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,090 SF

Gross rent

$44.5K $14.40/SF

− Vacancy

−$3.8K −$1.22/SF

EGI

$40.7K $13.18/SF

− OpEx

−$12.2K −$3.95/SF

NOI

$28.5K $9.22/SF

Area

Polk County, IA

Vacancy

8.50%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$570,000

Cap Rate 7%

$407,143

Cap Rate 9%

$316,667

Alternative Uses

Best Use

Specialty Retail

$563.2K

$492.8K – $657.0K (±1% cap)

NOI $39,421 @ 7.0% cap · market cap 10.52%

Second Best

Retail

$407.1K

$356.3K – $475.0K (±1% cap)

NOI $28,500 @ 7.0% cap · market cap 7.60%

Theoretical Best

Flex RnD

$2.97M

$2.60M – $3.47M (±1% cap)

NOI $208,217 @ 7.0% cap · market cap 55.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Car Wash Car Wash

Suggested Use

Top Pick Building Supply Electrical Service Auto Parts Store Nail Salon (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

192

Businesses Nearby

37k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 68% Groceries 30% Dining 1%

Bondurant #2 Shops & Services

19,665 visits/mo 0.4 miles

Fareway Groceries

11,221 visits/mo 0.3 miles

BP Shops & Services

5,643 visits/mo 0.0 miles

SUBWAY Dining

509 visits/mo 0.3 miles

Demographics for 50035, IA

8,968

Population

3,394

Households

2.6

Avg Household Size

32

Median Age

52%

College-Educated

97%

High-School Grad

43.2 sq mi

ZIP Area

208

Density / Sq Mi

$126,915

Median Household Income

$61,139

Median Earnings

$1,097

Median Rent

$297,100

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Self service car wash - Existing wash equipment and multiple service bays are in place for a potential renovation and return to operation.

Where is this self service car wash located?

The property is located at 1105 Lincoln Street SE Bondurant, IA.

What is the asking price?

The asking price for this property is $374,900.

What are key features of this property?

This property features: Three self‑service wash bays and one automatic bay; On‑site vacuum stations; Equipment currently at the property is included in the sale