Truck Wash with Three
For Sale
$1,750,000
16157 190th St, Monticello, IA 52033
Full-service truck wash with heated bays, driver amenities, and overhead-door access.
Property Size13,200 SF
Price / SF$132.58
Days on Market9
Property Features for 16157 190th St
General Information
Standard status
Active
Size
13,200 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Car Wash Bays
3
Amenities
reception area
driver waiting area
driver showers
cistern/elevator room
in floor heat
Building Details
Year Built
2019
Buildings
1
Construction
tilt-up concrete
Abandoned
No
Listing Agency:
SKOGMAN REALTY COMMERCIAL
(319) 350-8450
Listed By:
Brian Rosteck · License #B59904000
Source:
Kwlegacyrealty
Added: Aug 17
Changed: Aug 18
Last Checked: Aug 24 at 10:03AM
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 SKOGMAN REALTY COMMERCIAL
Investment Insights
Based on property information with market context.
Built in 2019, this full-service truck wash occupies a 13,200-square-foot tilt-up concrete building with a pitched membrane roof and 20-foot clear height. The facility includes three wash bays, a reception area, a driver waiting area, driver showers, in-floor heat throughout, and a cistern/elevator room designed for waste collection and disposal. Seven overhead doors support service operations, including six measuring 12 feet by 15 feet and one measuring 12 feet by 14 feet.
The property provides access to Highway 151 at Exit 63 and is next to Karde’s 151 Travel Plaza, which operates 24/7 and offers concrete semi parking and a CAT scale. A skid loader, dump truck, and additional equipment are available through a separate bill of sale.
The property provides access to Highway 151 at Exit 63 and is next to Karde’s 151 Travel Plaza, which operates 24/7 and offers concrete semi parking and a CAT scale. A skid loader, dump truck, and additional equipment are available through a separate bill of sale.
Key Highlights
- 13,200‑square‑foot truck wash built in 2019
- Three wash bays, each measuring 110 feet by 29 feet
- Six 12‑foot by 15‑foot overhead doors plus one 12‑foot by 14‑foot door
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
$133,732
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
7.64%
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%
$2,674,640
$2.7M
Cap Rate 7%
$1,910,457
$1.9M
Cap Rate 9%
$1,485,911
$1.5M
Market Conditions
NOI Build-Up for 13,200 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
$193.2K $14.64/SF
− Vacancy
−$14.9K −$1.13/SF
EGI
$178.3K $13.51/SF
− OpEx
−$44.6K −$3.38/SF
NOI
$133.7K $10.13/SF
Area
Jones County, IA
Vacancy
7.73%
Lease Rate
$14.64 /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%
$2,674,640
Cap Rate 7%
$1,910,457
Cap Rate 9%
$1,485,911
Alternative Uses
Best Use
Specialty Retail
$1.91M
$1.67M – $2.23M
NOI $133,732 @ 7.0% cap · market cap 7.64%
Second Best
Retail
$1.78M
$1.56M – $2.08M
NOI $124,817 @ 7.0% cap · market cap 7.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
4,931 visits/mo
0.3 miles
Demographics for 52033, IA
3,478
Population
1,399
Households
2.5
Avg Household Size
39
Median Age
26%
College-Educated
95%
High-School Grad
98.4 sq mi
ZIP Area
35
Density / Sq Mi
$70,833
Median Household Income
$44,006
Median Earnings
$887
Median Rent
$210,600
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 - Full-service truck wash with heated bays, driver amenities, and overhead-door access.
Where is this car wash located?
The property is located at 16157 190th St Monticello, IA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 13,200‑square‑foot truck wash built in 2019; Three wash bays, each measuring 110 feet by 29 feet; Six 12‑foot by 15‑foot overhead doors plus one 12‑foot by 14‑foot door
