Car Wash With Hand And Automatic
For Sale
$375,000
1324 E LOCUST Street, Davenport, IA 52803
Operating facility combines hand-wash bays, automatic bays, and vacuum stations.
Property Size3,606 SF
Days on Market326
Property Features for 1324 E LOCUST Street
General Information
Standard status
Active
Size
3,606 SF
Property subtype
Commercial
Site & Location
Traffic Count
21,300 vehicles/day
Road Access
Yes
Additional Details
Car Wash Bays
6
Taxes and HOA fees
Annual Taxes
$4,862
Amenities
vacuums
Building Details
Building Size
3,606 SF
Year Built
1987
Stories
1
Listing Agency:
NAI Ruhl Commercial Company
(563) 355-4000
Listed By:
Ethan Simons · License #S65924000/475.178290
(563) 355-4000
Source:
Midwestrealestate
Added: Sep 29, 2025
Changed: Aug 17
Last Checked: Aug 20 at 1:35PM
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 NAI Ruhl Commercial Company
Investment Insights
Based on property information with market context.
This operating car wash includes the land and building, with a service mix designed around both hand-wash and automatic cleaning. The property contains 4 hand wash bays, 2 automatic wash bays, and vacuum equipment. Constructed in 1987, the facility is positioned on E Locust Street in Davenport and benefits from reported traffic volume of 21,300 VPD.
Key Highlights
- 4 hand wash bays
- 2 automatic wash bays
- Vacuum stations included
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
$21,582
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
5.76%
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%
$431,640
$431.6K
Cap Rate 7%
$308,314
$308.3K
Cap Rate 9%
$239,800
$239.8K
Market Conditions
NOI Build-Up for 3,606 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
$32.5K $9.00/SF
− Vacancy
−$1.6K −$0.45/SF
EGI
$30.8K $8.55/SF
− OpEx
−$9.2K −$2.56/SF
NOI
$21.6K $5.98/SF
Area
Davenport, IA
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$431,640
Cap Rate 7%
$308,314
Cap Rate 9%
$239,800
Alternative Uses
Best Use
Specialty Retail
$585.2K
$512.1K – $682.8K
NOI $40,965 @ 7.0% cap · market cap 10.92%
Second Best
Retail
$497.6K
$435.4K – $580.6K
NOI $34,834 @ 7.0% cap · market cap 9.29%
Theoretical Best
Office A
$778.3K
$681.0K – $908.0K
NOI $54,481 @ 7.0% cap · market cap 14.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21,300 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
829
Businesses Nearby
35k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Dining 34%
Checkers
Dining
10,354 visits/mo
0.2 miles
BP
Shops & Services
7,044 visits/mo
0.2 miles
Dollar Tree
Shops & Services
6,781 visits/mo
0.1 miles
Sinclair
Shops & Services
3,657 visits/mo
0.2 miles
EZPAWN
Shops & Services
3,069 visits/mo
0.2 miles
Demographics for 52803, IA
22,896
Population
10,427
Households
2.2
Avg Household Size
34
Median Age
35%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
4,489
Density / Sq Mi
$61,082
Median Household Income
$32,163
Median Earnings
$871
Median Rent
$157,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - Operating facility combines hand-wash bays, automatic bays, and vacuum stations.
Where is this car wash located?
The property is located at 1324 E LOCUST Street Davenport, IA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 4 hand wash bays; 2 automatic wash bays; Vacuum stations included
