Listing Agency: Kesterson Realty Inc j***@gmail.com Show Phone

Listed By: Stephanie Bishop · License #S63299 Show Phone

Source: Exprealty

Added: Aug 28 Changed: Oct 15 Last Checked: Oct 19 at 10:09AM

Report an Issue

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 Kesterson Realty Inc

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This car wash property contains 1,800 square feet with one indoor bay and one outdoor wash bay. The improvements include a car vacuum station, plus washer and dryer hookups that support additional on-site service functions. A 12 ft. wide by 10 ft. high overhead door provides access for vehicles and equipment.

Located at 502 Main St. in Duncombe, Iowa, the property is configured for car wash operations with both enclosed and exterior washing areas. The combination of wash bays, vacuum equipment, and utility hookups creates a practical automotive service layout.

Key Highlights

• 1,800‑square‑foot car wash property
• One indoor wash bay and one outdoor wash bay
• Car vacuum station included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,485

Cap Rate

6.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$169,700 $169.7K

Cap Rate 7%

$121,214 $121.2K

Cap Rate 9%

$94,278 $94.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$13.2K $7.32/SF

− Vacancy

−$1.1K −$0.59/SF

EGI

$12.1K $6.73/SF

− OpEx

−$3.6K −$2.02/SF

NOI

$8.5K $4.71/SF

Area

Webster County, IA

Vacancy

8.00%

Lease Rate

$7.32 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$169,700

Cap Rate 7%

$121,214

Cap Rate 9%

$94,278

Alternative Uses

Best Use

Specialty Retail

$273.3K

$239.2K – $318.9K (±1% cap)

NOI $19,134 @ 7.0% cap · market cap 14.83%

Second Best

Retail

$266.9K

$233.6K – $311.4K (±1% cap)

NOI $18,686 @ 7.0% cap · market cap 14.49%

Theoretical Best

Office A

$324.4K

$283.8K – $378.4K (±1% cap)

NOI $22,706 @ 7.0% cap · market cap 17.60%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Self service car ...

Suggested Use

Top Pick Plumbing Service Big Box & Wholesale Store Kitchen & Bath Showroom Garden Center Pet Store & Service Discount Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

31

Businesses Nearby

Explore this area Business Placement

Demographics for 50532, IA

952

Population

397

Households

2.4

Avg Household Size

44

Median Age

12%

College-Educated

95%

High-School Grad

75.4 sq mi

ZIP Area

13

Density / Sq Mi

$65,000

Median Household Income

$27,450

Median Earnings

$663

Median Rent

$169,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Car wash - Automotive property with indoor and outdoor wash areas, vacuum equipment, and laundry hookups for expanded service capability.

Where is this car wash located?

The property is located at 502 Main St. Duncombe, IA.

What is the asking price?

The asking price for this property is $129,000.

What are key features of this property?

This property features: 1,800‑square‑foot car wash property; One indoor wash bay and one outdoor wash bay; Car vacuum station included