4200 York St Sioux City, IA 51106-5125
- Car washes
- 4,364 SF
- 0.84 lot acres
Mar 08, 2022
Current Use by Public Records
- Silverstar Car Wash / Car Wash
Property Details for 4200 York St
- Year built
- 2021
- Lot size
- 0.84 lot acres
- Property size
- 4,364 SF
- Property type
- Car washes
- APN
- 884813427001
- APU
- 884813427001
Description
This exceptional investment opportunity presents a fee-simple 4,370 square-foot car wash located at 4200 S York St, Sioux City, IA, in Woodbury County. Built in 2021, the property sits on a 0.84-acre lot and boasts a 100% occupancy rate under a 20-year NNN lease (commencing December 29, 2021, and expiring December 28, 2041), leaving 17.1 years remaining. The lease features a corporate guarantee from Mammoth Holdings, LLC, a significant operator with 100+ units. The current annual net operating income (NOI) is $152,384, representing a compelling 5.75% cap rate and a price per square foot of $606.44. The lease includes annual rent increases, starting at 2.00% in January 2024 and then 1.50% annually thereafter. This property offers significant long-term income potential with minimal landlord responsibilities, making it an attractive addition to any investment portfolio. The asking price is $2,650,161. This is a single-tenant property with a strong tenant and a long-term lease. The property qualifies for 15-year accelerated depreciation and bonus depreciation, further enhancing its investment appeal.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,190,000
- ML approach
- $2,030,000
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Location Insight
- Map
- Local Demand
- City
- Sioux City
- County
- Woodbury
- State
- Iowa
- Longitude
- -96.3716
- Latitude
- 42.4344
- CBSA code
- 43580
- CBSA name
- SIOUX CITY, IA-NE-SD METROPOLITAN STATISTICAL AREA