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Property profile & analytics
OFF-MARKET
Car washes
2101 University Ave Des Moines, IA 50311-4403
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0346023
Property summary
AI-generated overview
This exceptional investment opportunity presents a 2,520-square-foot auto shop and car wash located at 2101 University Avenue in Des Moines, Iowa's desirable Drake neighborhood. Built in 1978, this property sits on a 0.364-acre lot and is zoned RX2 Mixed Use District. The facility boasts four drive-in stalls, ensuring efficient operation and convenient access for customers. Currently operating as a self-service car wash, this property offers a compelling 9.48% cap rate, promising immediate and substantial cash flow for investors. The attractive tax benefits further enhance the investment appeal. This property is ideal for both new and experienced investors seeking a profitable venture in a prime location. The asking price is $485,000. This is a rare chance to acquire a well-established business with significant upside potential in a thriving Des Moines neighborhood. Don't miss this opportunity to secure a strong return on investment.
Property profile
Verified
Property type
Car washes
Use group
CAR WASH
Year built
1978
Construction
STEEL FRAME
Total area
2,520 SF
Lot
0.36 ac (15,840 SF)
Zoning code
C-2
APN
080/06733-000-000
UPID
US25-0346023
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Casa Car Wash Car Wash
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Perrys Service INC · 1 yrs held
Perrys Service INC
since 2025
Last sale
$300,000
4 recorded transactions
Zoning & alternative use
C-2 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Moines submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$3,914
Tax year 2020
Assessed value
$186,000
Assessed 2023
Previous assessed
$186,000
+0.0% YoY
Effective rate
2.10%
On assessed value
Assessed land
$101,000
Assessed improvement
$85,000
Land market value
$101,000
Improvement market value
$85,000
Total market value
$186,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Car washes
Use group
CAR WASH
Status
Off-Market
Year built
1978
Construction
STEEL FRAME
Heating
FLOOR/WALL FURNACE
Buildings
1
Stories
1
Rooms
4
Bathrooms
1
Total area
2,520 SF
Lot
0.36 ac (15,840 SF)
Zoning code
C-2
APN
080/06733-000-000
UPID
US25-0346023
Jurisdiction
POLK
Zoning & alternative use
C-2 · Des Moines, IAZoning C-2 · permitted uses
C-2 · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1978
Construction
STEEL FRAME
Heating
FLOOR/WALL FURNACE
Stories
1
Buildings
1
Rooms
4
Bathrooms
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
Perrys Service INC
Entity
Mailing address
4437 170TH AVE, CARLISLE, IA 50047-5343
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2025
$415,000
Perrys Service INC
Wash Iowa LLC
Warranty Deed
$292,500 · Veridian Cu
Apr 21, 2022
$300,000
Wash Iowa LLC
Casa Car Wash LLC
Warranty Deed
$272,000 · Midwest Heritage Bank Fsb
Apr 21, 2022
—
Wesh Lowa LLC
—
Deed
related
$272,000 · Midwest Heritage Bank Fsb
Mar 17, 2010
—
Casa Car Wash LLC
Watts Jerald F Trust
Warranty Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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