Self-Service Car Wash on
New
For Sale
$1,104,000
600/600 1/5 Lewis Blvd + 2423 6th St Sioux, Sioux City, IA 51105
Existing wash improvements include automated and manual bays, dual street access, and vacuum stations.
Property Size3,150 SF
Lot Size1.67 Acres
Days on Market2
Property Features for 600/600 1/5 Lewis Blvd + 2423 6th St Sioux
General Information
Standard status
Active
Size
3,150 SF
Lot size
1.67 Acres
Property subtype
Big Box Retail
Site & Location
Traffic Count
21,000 vehicles/day
Road Access
Yes
Additional Details
Car Wash Bays
6
Amenities
vacuum stations
Building Details
Building Size
3,150 SF
Year Built
1996
Listing Agency:
NAI United
(712) 204-6261
Listed By:
Chris Bogenrief, SIOR, CCIM, MBA · License #B43451000
(712) 204-6261
Source:
Thebrokerlist
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 5:31AM
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 NAI United
Investment Insights
Based on property information with market context.
Built in 1996, the property occupies a 1.67-acre corner site with entrances from Lewis Blvd and 6th Street. The existing improvements contain 4 self-service bays and 2 automatic bays, with each bay measuring roughly 300 sf. Bays include 10' x 10' overhead doors on both sides and 12' clear height. Two vacuum stations are also located on the property.
The site is positioned across from McDonald's, and reported traffic exceeds 21,000 vehicles per day. Its current configuration supports continued car wash operations, while the property information identifies potential redevelopment concepts including drive-thru contractor bays, storage units, auto repair, and QSR redevelopment. The property is located at 600/600 1/5 Lewis Blvd and 2423 6th St in Sioux City, Iowa.
The site is positioned across from McDonald's, and reported traffic exceeds 21,000 vehicles per day. Its current configuration supports continued car wash operations, while the property information identifies potential redevelopment concepts including drive-thru contractor bays, storage units, auto repair, and QSR redevelopment. The property is located at 600/600 1/5 Lewis Blvd and 2423 6th St in Sioux City, Iowa.
Key Highlights
- 1.67‑acre corner site at Lewis Blvd and 6th Street
- 4 self‑service bays and 2 automatic wash bays
- Each bay is roughly 300 sf with 10' x 10' overhead doors on both sides
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
$33,134
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
3.00%
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%
$662,680
$662.7K
Cap Rate 7%
$473,343
$473.3K
Cap Rate 9%
$368,156
$368.2K
Market Conditions
NOI Build-Up for 3,150 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
$47.3K $15.00/SF
− Vacancy
−$3.1K −$0.98/SF
EGI
$44.2K $14.03/SF
− OpEx
−$11.0K −$3.51/SF
NOI
$33.1K $10.52/SF
Area
Woodbury County, IA
Vacancy
6.50%
Lease Rate
$15.00 /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%
$662,680
Cap Rate 7%
$473,343
Cap Rate 9%
$368,156
Alternative Uses
Best Use
Specialty Retail
$473.3K
$414.2K – $552.2K
NOI $33,134 @ 7.0% cap · market cap 3.00%
Second Best
Retail
$446.5K
$390.7K – $520.9K
NOI $31,253 @ 7.0% cap · market cap 2.83%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
21,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Demographics for 51105, IA
10,565
Population
4,197
Households
2.5
Avg Household Size
31
Median Age
7%
College-Educated
64%
High-School Grad
6.0 sq mi
ZIP Area
1,761
Density / Sq Mi
$46,940
Median Household Income
$33,152
Median Earnings
$855
Median Rent
$84,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - Existing wash improvements include automated and manual bays, dual street access, and vacuum stations.
Where is this self service car wash located?
The property is located at 600/600 1/5 Lewis Blvd + 2423 6th St Sioux Sioux City, IA.
What is the asking price?
The asking price for this property is $1,104,000.
What are key features of this property?
This property features: 1.67‑acre corner site at Lewis Blvd and 6th Street; 4 self‑service bays and 2 automatic wash bays; Each bay is roughly 300 sf with 10' x 10' overhead doors on both sides
