Touchless Car Wash with Truck
New
For Sale
Contact for pricing
803 State Hwy 92 East, Winterset, IA 50273
Automated touchless washing is paired with high-clearance manual bays designed for truck and RV washing.
Property Size2,460 SF
Price / SF$81.30
Days on Market6
Property Features for 803 State Hwy 92 East
General Information
Standard status
Active
Size
2,460 SF
Property subtype
Special Purpose
Additional Details
Car Wash Bays
2
Listing Agency:
Keller Williams Ankeny Metro
Listed By:
Tom Butler · License #S58866000
Source:
Crexi
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 16 at 9:20PM
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 Keller Williams Ankeny Metro
Investment Insights
Based on property information with market context.
This 2,460-square-foot car wash combines an automatic touchless system with two high-bay manual wash areas. The manual bays are configured for truck and RV use, adding capacity for larger vehicles alongside the automated operation.
The property is located at 803 State Hwy 92 East in Winterset, Iowa, on the east side of the community. Its combination of touchless automation and dedicated high-bay washing areas supports multiple vehicle-wash formats within one facility.
The property is located at 803 State Hwy 92 East in Winterset, Iowa, on the east side of the community. Its combination of touchless automation and dedicated high-bay washing areas supports multiple vehicle-wash formats within one facility.
Key Highlights
- Automatic touchless car wash system
- Two high‑bay manual wash bays
- Manual bays accommodate truck and RV washing
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
$10,087
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
5.04%
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%
$201,740
$201.7K
Cap Rate 7%
$144,100
$144.1K
Cap Rate 9%
$112,078
$112.1K
Market Conditions
NOI Build-Up for 2,460 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
$15.6K $6.36/SF
− Vacancy
−$1.2K −$0.50/SF
EGI
$14.4K $5.86/SF
− OpEx
−$4.3K −$1.76/SF
NOI
$10.1K $4.10/SF
Area
Madison County, IA
Vacancy
7.90%
Lease Rate
$6.36 /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%
$201,740
Cap Rate 7%
$144,100
Cap Rate 9%
$112,078
Alternative Uses
Best Use
Specialty Retail
$515.9K
$451.4K – $601.8K
NOI $36,110 @ 7.0% cap · market cap 18.06%
Second Best
Retail
$452.0K
$395.5K – $527.4K
NOI $31,641 @ 7.0% cap · market cap 15.82%
Theoretical Best
Flex RnD
$2.37M
$2.07M – $2.76M
NOI $165,765 @ 7.0% cap · market cap 82.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 50273, IA
8,570
Population
3,927
Households
2.2
Avg Household Size
41
Median Age
25%
College-Educated
96%
High-School Grad
195.2 sq mi
ZIP Area
44
Density / Sq Mi
$80,018
Median Household Income
$48,149
Median Earnings
$948
Median Rent
$216,100
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 - Automated touchless washing is paired with high-clearance manual bays designed for truck and RV washing.
Where is this car wash located?
The property is located at 803 State Hwy 92 East Winterset, IA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Automatic touchless car wash system; Two high‑bay manual wash bays; Manual bays accommodate truck and RV washing
