925 34th SW Ave Altoona, IA 50009
This exceptional investment opportunity presents a portfolio of three thriving car washes strategically located in Altoona and Urbandale, Iowa. The portfolio comprises three fee-simple properties, built between 1998 and 2009, and zoned for commercial/special purpose use. The Altoona location (925 34th Ave SW, 50009), established in 2003, features four PDQ Laserwash 360+ units with access entry pay stations, situated in a high-traffic area near Lowe's and Target, experiencing approximately 12,000+ daily vehicle counts. Two Urbandale locations (3969 NW Urbandale Dr, 50322 and 8500 Meredith Dr, 50322) contribute to the portfolio's success. The Urbandale location at 3969 NW Urbandale Dr, built in 2009 on a ±1.78-acre lot, boasts four PDQ Laserwash 360 units and four vacuum stations, attracting approximately 13,000+ vehicles daily from nearby residential and retail areas. The second Urbandale location at 8500 Meredith Dr also includes 4 PDQ laserwash machines and 4 vacuums. All locations benefit from established client bases, high daily traffic volumes (averaging 12,000-15,000 vehicles), and modern PDQ Laserwash systems. This portfolio offers a turnkey operation with significant potential for continued growth and is eligible for bonus depreciation under the Tax Cuts and Jobs Act of 2017. The asking price for this owner/user opportunity is $6,150,000.
8. C-2 General Commercial District. 9. C-3 Planned Commercial District. 10. C-4 Village Commercial District. 11. C-5 Office Park. 12. C-6 Commercial Entertainment or Recreational District. 13. C-7 Regional Commercial District. 14. M-1 Limited Industrial District. 15. M-1A Commercial And Limited Light Industrial Business Park. 16. M-2 Heavy Industrial Distric…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2020Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
C-2 · Altoona, IA8. C-2 General Commercial District. 9. C-3 Planned Commercial District. 10. C-4 Village Commercial District. 11. C-5 Office Park. 12. C-6 Commercial Entertainment or Recreational District. 13. C-7 Regional Commercial District. 14. M-1 Limited Industrial District. 15. M-1A Commercial And Limited Light Industrial Business Park. 16. M-2 Heavy Industrial District. 17. Floodway (Overlay) District (FW) - those areas identified as Floodway on the Official Flood Plain Zoning Map. 18. Floodway Fringe (Overlay) District (FF) - those areas identified as Zone AE on the Official Flood Plain Zoning Map but excluding those areas identified as Floodway. 19. General Floodplain (Overlay) District (GF) - those areas identified as Zone A on the Official Flood Plain Zoning Map. The Official Zoning Map shall bear the signature of the Mayor, attested by the Clerk, under the certification that it is the Official Zoning Map. If, in accordance with the provisions of the Zoning Code and Chapter 414 of the Code of Iowa , changes are made in district boundaries or other matters portrayed on the Official Zoning Map, copies of such changes shall be filed with the Official Zoning Map promptly after the amendment has been approved by the Council. The Council may, from time to time, adopt a new Official Zoning Map which shall supersede the prior Official Zoning Map, in the event that the Official Zoning Map becomes damaged or destroyed; or for purposes of clarity due to a number of boundary changes, or to correct drafting errors or omissions; provided, however, any such adoption shall not have the effect of amending the original zoning ordinance or any subsequent amendment thereof. The Official Zoning Map, together with amending ordinances, shall be the final authority as to the current zoning status of land and water areas, buildings, and other structures in the City. EDITOR’S NOTE The following ordinances have been adopted amending the Official Zoning Map described in Section 165.03 of this chapter and have not been codified herein, but have been specifically saved from repeal and are in full force and effect. ORDINANCE NO. DATE ADOPTED ORDINANCE NO. DATE ADOPTED EDITOR’S NOTE The following ordinances have been adopted amending the Official Zoning Map described in Section 165.03 of this chapter and have not been codified herein, but have been specifically saved from repeal and are in full force and effect. ORDINANCE NO. DATE ADOPTED ORDINANCE NO.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
