Self-Serve and Touchless Car
For Sale
$525,000
875 Sherrylynn Boulevard, Pleasant Hill, IA 50327
Established car wash facility includes three self-serve bays, two touchless automatic bays, and multiple vacuum stations.
Property Size2,444 SF
Price / SF$214.81
Days on Market36
Property Features for 875 Sherrylynn Boulevard
General Information
Standard status
Active
Size
2,444 SF
Additional Details
Business Included
Yes
Road Access
Yes
Service Bays
3
Building Details
Year Built
1997
Listing Agency:
Real Broker, LLC
(515) 313-7103
Listed By:
Tim Scheib
Source:
Kwlegacyrealty
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 23 at 5:40AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This established car wash facility is well-maintained and designed for multiple service types. The site features three self-serve bays, two touchless automatic bays, and multiple vacuum stations, creating a mixed configuration for customer use.
The property is situated in a high-traffic area and is positioned for easy access from major roads. Public remarks indicate strong local demand and steady traffic year-round.
As a low-maintenance car wash asset, it is offered for sale as a turnkey facility with the existing car wash improvements in place.
The property is situated in a high-traffic area and is positioned for easy access from major roads. Public remarks indicate strong local demand and steady traffic year-round.
As a low-maintenance car wash asset, it is offered for sale as a turnkey facility with the existing car wash improvements in place.
Key Highlights
- Established car wash facility with 3 self‑serve bays
- Includes 2 touchless automatic bays
- Multiple vacuum stations on site
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,179
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$623,580
$623.6K
Cap Rate 7%
$445,414
$445.4K
Cap Rate 9%
$346,433
$346.4K
Market Conditions
NOI Build-Up for 2,444 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.0K $18.00/SF
− Vacancy
−$2.4K −$0.99/SF
EGI
$41.6K $17.01/SF
− OpEx
−$10.4K −$4.25/SF
NOI
$31.2K $12.76/SF
Area
Polk County, IA
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$623,580
Cap Rate 7%
$445,414
Cap Rate 9%
$346,433
Alternative Uses
Best Use
Specialty Retail
$445.4K
$389.7K – $519.7K
NOI $31,179 @ 7.0% cap · market cap 5.94%
Second Best
Retail
$322.0K
$281.8K – $375.7K
NOI $22,542 @ 7.0% cap · market cap 4.29%
Theoretical Best
Flex RnD
$2.35M
$2.06M – $2.74M
NOI $164,687 @ 7.0% cap · market cap 31.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 50327, IA
11,807
Population
5,077
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
97%
High-School Grad
15.8 sq mi
ZIP Area
747
Density / Sq Mi
$90,759
Median Household Income
$46,177
Median Earnings
$1,219
Median Rent
$303,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - Established car wash facility includes three self-serve bays, two touchless automatic bays, and multiple vacuum stations.
Where is this self service car wash located?
The property is located at 875 Sherrylynn Boulevard Pleasant Hill, IA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Established car wash facility with 3 self‑serve bays; Includes 2 touchless automatic bays; Multiple vacuum stations on site
