Self-Service Car Wash with Redevelopment
For Sale
Contact for pricing
600/600 1/5 Lewis Blvd, Sioux City, IA 51105
Corner-site automotive property with self-service and automatic wash bays, vacuum stations, and GC zoning.
Property Size3,150 SF
Lot Size1.67 Acres
Price / SF$350.48
Days on Market9
Property Features for 600/600 1/5 Lewis Blvd
General Information
Standard status
Active
Size
3,150 SF
Lot size
1.67 Acres
Property subtype
Retail
Zoning
GC
Investment Type
Redevelopment
Site & Location
Traffic Count
21,000 vehicles/day
Road Access
Yes
Additional Details
Car Wash Bays
6
Amenities
vacuum stations
Building Details
Year Built
1996
Buildings
1
Stories
1
Listing Agency:
NAI United
(712) 204-6261
Listed By:
Chris Bogenrief, SIOR, CCIM, MBA · License #B43451000
Source:
Crexi
Added: Aug 13
Changed: Aug 18
Last Checked: Aug 21 at 9:57AM
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.
This 3,150 SF automotive property at 600/600 1/5 Lewis Blvd includes six wash bays: four self-service and two automatic. Each bay is roughly 300 SF and features 10' x 10' overhead doors on both sides, with 12' clear height. Two vacuum stations are also located on the 1.67-acre site. Built in 1996, the property is zoned GC.
The corner parcel has entrances from both Lewis Blvd and 6th Street and sits across from McDonald's. Over 21,000 vehicles pass the site per day. Potential redevelopment concepts identified for the property include drive-thru contractor bays, storage units, auto repair, and QSR redevelopment.
The corner parcel has entrances from both Lewis Blvd and 6th Street and sits across from McDonald's. Over 21,000 vehicles pass the site per day. Potential redevelopment concepts identified for the property include drive-thru contractor bays, storage units, auto repair, and QSR redevelopment.
Key Highlights
- 1.67‑acre site at the corner of Lewis Blvd and 6th Street
- Current layout includes 4 self‑service and 2 automatic wash bays
- Each wash 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
396
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 - Corner-site automotive property with self-service and automatic wash bays, vacuum stations, and GC zoning.
Where is this self service car wash located?
The property is located at 600/600 1/5 Lewis Blvd 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 site at the corner of Lewis Blvd and 6th Street; Current layout includes 4 self‑service and 2 automatic wash bays; Each wash bay is roughly 300 SF with 10' x 10' overhead doors on both sides
