Car Wash With Vacuum
For Sale
$391,000
4201 Mt Vernon Road SE, Cedar Rapids, IA 52403
Block construction and a newer asphalt roof support the existing automotive service use.
Property Size1,932 SF
Price / SF$202.38
Days on Market300
Property Features for 4201 Mt Vernon Road SE
General Information
Standard status
Active
Size
1,932 SF
Property subtype
Commercial
Lease Term
[]
Amenities
Vacuum islands
Building Details
Year Built
2009
Construction
Block
Listing Agency:
SKOGMAN REALTY COMMERCIAL
(319) 350-8450
Listed By:
Brian Rosteck · License #B59904000
(319) 364-8121
Source:
Cbhrealty
Added: Nov 3, 2025
Changed: Aug 29
Last Checked: Aug 26 at 1:03PM
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.
This Cedar Rapids car wash is a block-constructed facility built in 2009. The property includes established vacuum islands and a newer asphalt roof, providing key existing improvements for the automotive service operation.
The site is located at 4201 Mt Vernon Road SE, next to Hy-Vee. Zoning is S-MC. The offering includes the real estate together with the depreciated value of the equipment.
The site is located at 4201 Mt Vernon Road SE, next to Hy-Vee. Zoning is S-MC. The offering includes the real estate together with the depreciated value of the equipment.
Key Highlights
- Established car wash operation with vacuum islands in place
- Block construction with a newer asphalt roof
- Built in 2009
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
$19,574
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
5.01%
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%
$391,480
$391.5K
Cap Rate 7%
$279,629
$279.6K
Cap Rate 9%
$217,489
$217.5K
Market Conditions
NOI Build-Up for 1,932 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
$28.3K $14.64/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$26.1K $13.51/SF
− OpEx
−$6.5K −$3.38/SF
NOI
$19.6K $10.13/SF
Area
Cedar Rapids, 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%
$391,480
Cap Rate 7%
$279,629
Cap Rate 9%
$217,489
Alternative Uses
Best Use
Specialty Retail
$279.6K
$244.7K – $326.2K
NOI $19,574 @ 7.0% cap · market cap 5.01%
Second Best
Retail
$261.0K
$228.4K – $304.5K
NOI $18,269 @ 7.0% cap · market cap 4.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Explore this area
Business Placement
Demographics for 52403, IA
23,012
Population
10,759
Households
2.1
Avg Household Size
41
Median Age
40%
College-Educated
95%
High-School Grad
26.3 sq mi
ZIP Area
875
Density / Sq Mi
$73,848
Median Household Income
$46,148
Median Earnings
$857
Median Rent
$190,700
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 - Block construction and a newer asphalt roof support the existing automotive service use.
Where is this car wash located?
The property is located at 4201 Mt Vernon Road SE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $391,000.
What are key features of this property?
This property features: Established car wash operation with vacuum islands in place; Block construction with a newer asphalt roof; Built in 2009
