Operating Car Wash Investment
For Sale
$895,000
1408 1 Street, Cedar Falls, IA 50613
Car wash for sale, prime location, investment opportunity.
Property Size4,340 SF
Price / SF$206.22
Days on Market725
Property Features for 1408 1 Street
General Information
Standard status
Active
Size
4,340 SF
Property subtype
Commercial
Zoning
c
Taxes and HOA fees
Annual Taxes
$16,048
Amenities
0.38
4340
Building Details
Building Size
4,340 SF
Year Built
2002
Listing Agency:
Lockard Realty Company
(319) 393-0900
Listed By:
Jaime Hymer
(319) 651-9617
Source:
Pinnaclerealtyia
Added: Sep 19, 2024
Changed: Sep 12
Last Checked: Sep 13 at 4:45AM
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 Lockard Realty Company
Investment Insights
Based on property information with market context.
This property presents an investment opportunity as an existing operating car wash. Alternatively, the site could be redeveloped. The property is 4340 square feet and is suitable for car washes, automotive properties, retail spaces, and general commercial real estate.
Key Highlights
- Prime location
- Existing operating car wash
- Investment opportunity
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
$46,135
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
5.15%
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%
$922,700
$922.7K
Cap Rate 7%
$659,071
$659.1K
Cap Rate 9%
$512,611
$512.6K
Market Conditions
NOI Build-Up for 4,340 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
$67.2K $15.48/SF
− Vacancy
−$5.7K −$1.31/SF
EGI
$61.5K $14.17/SF
− OpEx
−$15.4K −$3.54/SF
NOI
$46.1K $10.63/SF
Area
Black Hawk County, IA
Vacancy
8.44%
Lease Rate
$15.48 /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%
$922,700
Cap Rate 7%
$659,071
Cap Rate 9%
$512,611
Alternative Uses
Best Use
Industrial
$3.61M
$3.16M – $4.22M
NOI $252,995 @ 7.0% cap · market cap 28.27%
Second Best
Specialty Retail
$659.1K
$576.7K – $768.9K
NOI $46,135 @ 7.0% cap · market cap 5.15%
Theoretical Best
Mixed Use
$5.44M
$4.76M – $6.35M
NOI $380,835 @ 7.0% cap · market cap 42.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Dining 39%
Beauty & Spa 2%
Cedar Falls #6
Shops & Services
11,788 visits/mo
0.1 miles
SUBWAY
Dining
3,513 visits/mo
0.1 miles
Pita Pit
Dining
3,155 visits/mo
0.2 miles
Papa John's Pizza
Dining
1,256 visits/mo
0.1 miles
Cost Cutters
Beauty & Spa
435 visits/mo
0.2 miles
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Car wash for sale, prime location, investment opportunity.
Where is this car wash located?
The property is located at 1408 1 Street Cedar Falls, IA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Prime location; Existing operating car wash; Investment opportunity
