Self-Service Car Wash with Enclosed
For Sale
$200,000
3740 Easton Blvd, Des Moines, IA 50317
Automotive service property with wash equipment, vacuum areas, and convenient in-and-out access.
Property Size3,275 SF
Price / SF$61.07
Days on Market131
Property Features for 3740 Easton Blvd
General Information
Standard status
Active
Size
3,275 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Amenities
multiple wash bays
enclosed bays
vacuum/service areas
Building Details
Year Built
1964
Listing Agency:
RE/MAX Precision
(515) 612-2702
Listed By:
Beatris Mayorga (515) 612-2702 · License #S66769000
Source:
Desmoineshomesforsale
Added: Apr 21
Changed: Aug 28
Last Checked: Aug 25 at 6:05AM
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 RE/MAX Precision
Investment Insights
Based on property information with market context.
This self-service car wash occupies a 3,275 SF property built in 1964 and includes multiple enclosed wash bays, self-service equipment, and dedicated vacuum and service areas. The recently replaced roof adds a current building improvement to the existing automotive-use configuration.
Located at 3740 Easton Boulevard in Des Moines, the property provides direct access from Easton Boulevard with visibility near east-side residential and commuter corridors. The operation has served the Des Moines metro for more than 40 years, supporting an established local presence. Its combination of wash infrastructure, enclosed bays, and vehicle-access features suits continued car wash use.
Located at 3740 Easton Boulevard in Des Moines, the property provides direct access from Easton Boulevard with visibility near east-side residential and commuter corridors. The operation has served the Des Moines metro for more than 40 years, supporting an established local presence. Its combination of wash infrastructure, enclosed bays, and vehicle-access features suits continued car wash use.
Key Highlights
- 3,275 SF self‑service car wash property
- Multiple enclosed wash bays with self‑service equipment
- Dedicated vacuum and service areas
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
$13,428
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
6.71%
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%
$268,560
$268.6K
Cap Rate 7%
$191,829
$191.8K
Cap Rate 9%
$149,200
$149.2K
Market Conditions
NOI Build-Up for 3,275 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
$20.8K $6.36/SF
− Vacancy
−$1.6K −$0.50/SF
EGI
$19.2K $5.86/SF
− OpEx
−$5.8K −$1.76/SF
NOI
$13.4K $4.10/SF
Area
Des Moines, IA
Vacancy
7.90%
Lease Rate
$6.36 /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%
$268,560
Cap Rate 7%
$191,829
Cap Rate 9%
$149,200
Alternative Uses
Best Use
Specialty Retail
$554.1K
$484.9K – $646.5K
NOI $38,789 @ 7.0% cap · market cap 19.39%
Second Best
Retail
$454.4K
$397.6K – $530.1K
NOI $31,808 @ 7.0% cap · market cap 15.90%
Theoretical Best
Office A
$806.6K
$705.8K – $941.0K
NOI $56,460 @ 7.0% cap · market cap 28.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
Explore this area
Business Placement
Demographics for 50317, IA
37,221
Population
15,193
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
87%
High-School Grad
22.1 sq mi
ZIP Area
1,684
Density / Sq Mi
$61,569
Median Household Income
$36,641
Median Earnings
$1,079
Median Rent
$165,200
Median Home Value
Market
Vacancy Rate% for Retail in Des Moines, IA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - Automotive service property with wash equipment, vacuum areas, and convenient in-and-out access.
Where is this self service car wash located?
The property is located at 3740 Easton Blvd Des Moines, IA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 3,275 SF self‑service car wash property; Multiple enclosed wash bays with self‑service equipment; Dedicated vacuum and service areas
