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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Car washes
224 Tower Park Dr Waterloo, IA 50701-9002
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US25-0370879
Property summary
AI-generated overview
This exceptional investment opportunity presents a well-established, full-service car wash located at 224 Tower Park Drive in Waterloo, Iowa. The property boasts a prime South Waterloo location, characterized by high traffic counts and excellent visibility, ensuring consistent customer flow. Spanning 12,500 square feet on a 1.06-acre lot, this single-unit facility was constructed in 1995 and is zoned C-2 and C-Z, allowing for diverse operational possibilities. The sale includes the business and all equipment, providing a turnkey operation for the new owner. The property's APN is 881309227005. This is a rare chance to acquire a profitable, established business in a desirable location with significant growth potential. The property's strategic positioning and operational history make it an attractive investment for experienced entrepreneurs seeking a stable and lucrative venture in the thriving Waterloo market. Serious inquiries are encouraged to schedule a viewing and explore this exceptional opportunity further. The asking price for this turnkey operation is $750,000.
Property profile
Verified
Property type
Car washes
Use group
CAR WASH
Year built
1995
Total area
12,250 SF
Lot
1.06 ac (45,999 SF)
APN
8813-09-227-005
UPID
US25-0370879
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
-
Waterfalls 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
$640k
Owner & transaction history
Speed Clean Properties LLC · 1 yrs held
Speed Clean Properties LLC
since 2025
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+18.5%
Restaurant
$985,000
+14.2%
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 Waterloo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waterloo 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$860,000
Current use
OFFICE BUILDING
$1,020,000
Change: +18% · Conversion: Difficult
RESTAURANT
$985,000
Change: +14% · Conversion: Difficult
WAREHOUSE, STORAGE
$840,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$640k
Range $576k – $704k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$52 / SF
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 2023Property tax & assessments
Tax year 2023
Tax billed
$44,542
Tax year 2023
Assessed value
$1,220,250
Assessed 2024
Previous assessed
$1,220,250
+0.0% YoY
Effective rate
3.65%
On assessed value
Assessed land
$616,800
Assessed improvement
$603,450
Land market value
$616,800
Improvement market value
$603,450
Total market value
$1,220,250
Applied tax rate
940,001.0000
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
1995
Heating
SPACE
Cooling
YES
Stories
1
Total area
12,250 SF
Lot
1.06 ac (45,999 SF)
APN
8813-09-227-005
UPID
US25-0370879
Jurisdiction
BLACK HAWK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$860,000
OFFICE BUILDING
Est. value
$1.0M
RESTAURANT
Est. value
$985,000
WAREHOUSE, STORAGE
Est. value
$840,000
AUTO REPAIR, GARAGE Current
OFFICE BUILDING
RESTAURANT
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Heating
SPACE
Cooling
Yes
Stories
1
Lot
1.06 ac
Current owner
From public records · entity-resolved
Speed Clean Properties LLC
Entity
Mailing address
224 TOWER PARK DR, WATERLOO, IA 50701-9002
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2025
—
Speed Clean Properties LLC
—
Deed
related
$400,000 · Dupaco Community Cu
Jul 21, 2017
—
Loveland Waterfalls Ltd
—
Deed
related
$700,000 · First Security State Bank
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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