Building Details

Building Size 6,000 SF

Year Built 2012

Listing Agency: NAI United | Dakota Dunes

Listed By: Madison Craighead · License #SD #21694 Show Phone

Source: Naiglobal

Added: May 27 Changed: Oct 7 Last Checked: Oct 7 at 8:59AM

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Investment Insights

Based on property information with market context.

An established independent NAPA Auto Parts store is available, including both the business and the real estate. Located in Correctionville, IA, Joy Auto Supply has been a supplier of auto parts for decades. The business generates consistent annual revenue of approximately $870,000. This is a turnkey operation. The 6,000 square foot building, constructed in 2012, features a clear span design with ceiling heights between 11 and 14 feet, and an 8-foot dock door at the rear. The property includes door-front parking and is located on a commercially active street. The sale encompasses all FF&E, inventory, and real estate, and the business can continue operating as an independent NAPA Auto Parts store. The listing price includes business valuation, real estate value, and partial inventory credit.

Key Highlights

• Established NAPA Auto Parts store with business and real estate included.
• Turnkey operation with consistent annual revenue around $870,000.
• Minimal debt and clean balance sheet.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$59,529

Cap Rate

7.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,190,580 $1.2M

Cap Rate 7%

$850,414 $850.4K

Cap Rate 9%

$661,433 $661.4K

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$92.9K $15.48/SF

− Vacancy

−$7.8K −$1.31/SF

EGI

$85.0K $14.17/SF

− OpEx

−$25.5K −$4.25/SF

NOI

$59.5K $9.92/SF

Area

Woodbury County, IA

Vacancy

8.44%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,190,580

Cap Rate 7%

$850,414

Cap Rate 9%

$661,433

Alternative Uses

Best Use

Retail

$850.4K

$744.1K – $992.2K (±1% cap)

NOI $59,529 @ 7.0% cap · market cap 7.94%

Second Best

Industrial

$421.6K

$368.9K – $491.9K (±1% cap)

NOI $29,514 @ 7.0% cap · market cap 3.94%

Theoretical Best

Specialty Retail

$901.6K

$788.9K – $1.05M (±1% cap)

NOI $63,113 @ 7.0% cap · market cap 8.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

NAPA Auto Parts Auto Parts Store

Suggested Use

Top Pick Parking Lot & Garage Dental Office Storage Facility Grocery & Convenience Store Building Supply Catering Service

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

Location Intelligence

Trade Area within ½ mile

113

Businesses Nearby

22k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Correctionville Shops & Services

13,973 visits/mo 0.4 miles

Dollar General Shops & Services

4,434 visits/mo 0.5 miles

Sinclair Shops & Services

3,264 visits/mo 0.4 miles

Napa Auto Parts Shops & Services

440 visits/mo 0.1 miles

Demographics for 51016, IA

1,361

Population

484

Households

2.8

Avg Household Size

43

Median Age

20%

College-Educated

87%

High-School Grad

104.8 sq mi

ZIP Area

13

Density / Sq Mi

$52,813

Median Household Income

$39,194

Median Earnings

$925

Median Rent

$88,300

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• K & J Automotive Repair — 213 ironwood st, correctionville, ia 51016
• Pinnacle Performance LLC — 816 Driftwood St, Correctionville, IA 51016
• Sioux Valley Automotive — 307 Sioux Ave, Correctionville, IA 51016

Frequently Asked Questions

What type of property is this?

Auto shop - Turnkey auto parts business with real estate for sale.

Where is this auto shop located?

The property is located at 319 5th St Correctionville, IA.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: Established NAPA Auto Parts store with business and real estate included.; Turnkey operation with consistent annual revenue around $870,000.; Minimal debt and clean balance sheet.