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

Listed By: Stephanie Bishop · License #S63299 Show Phone

Source: Exprealty

Added: Aug 28 Changed: Sep 4 Last Checked: Sep 4 at 2:19PM

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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 = 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

$8,485

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

6.58%

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%

$169,700 $169.7K

Cap Rate 7%

$121,214 $121.2K

Cap Rate 9%

$94,278 $94.3K

Market Conditions

NOI Build-Up for 1,800 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

$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 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%

$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.

Property Analytics

Property Profile

Current Use

Self service car ...

Suggested Use

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this car washes located? What is the asking price? Find similar properties What are key features of this property?

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