2539 Arterial, Dubuque, IA 52002-0493
- Car washes
- 3,558 SF
- 1.75 lot acres
Current Use by Public Records
- Tidal Wave Auto Spa | Car Wash / Car Wash
Property Details for 2539 Arterial
- Year built
- 2022
- Lot size
- 1.75 lot acres
- Property type
- Car washes
- APN
- 10-17-426-012
- APU
- 1017426012
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 1, 2022 | $909,000 | Twas Properties LLC | Ruby 04 Asbrylnd LLC | Special Warranty Deed | — |
Description
This exceptional investment opportunity presents a 3,600 square foot Tidal Wave Auto Spa located at 2539 NW Arterial Rd, Dubuque, IA, 52002. Situated on a 1.8-acre lot, this property boasts a 20-year NNN lease, commencing December 28, 2022, and expiring December 27, 2042, with a remaining term of 18.1 years. The current annual net operating income (NOI) is $415,000, representing a 6.55% cap rate. The property benefits from a corporate guarantee and 100% occupancy. This prime location within a strong retail corridor features high traffic counts exceeding 18,800 vehicles daily on NW Arterial Rd. The surrounding area includes numerous power centers and retailers such as ALDI, Sam's Club, and Kohl's, along with a strong academic presence from institutions like the University of Dubuque. Average household incomes within a 3-mile and 5-mile radius exceed $117,300 and $100,900 respectively, indicating a robust market for car wash services. The building was constructed in 2022. This is a turnkey investment with significant long-term potential. Annual rent increases of 2.00% are scheduled, commencing in year seven.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,785,000
- ML approach
- $4,875,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Dubuque
- County
- Dubuque
- State
- Iowa
- Longitude
- -90.7413
- Latitude
- 42.5199
- CBSA code
- 20220
- CBSA name
- DUBUQUE, IA METROPOLITAN STATISTICAL AREA
