224 Tower Park DrWaterloo, IA 50701

Property Details for 224 Tower Park Dr

Year built

1995

Lot size

1.06 AC

Property size (Sq ft)

12,250 SF

Property type

Car washes

APN

8813-09-227-005

APU

881309227005

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,964,233

  6.5%

  $2,736,215

  7%

  $2,540,771

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,575,605

  Geo Method

  $1,575,605

• Alternative Use

  Use

  Valuation

  Residential

  $2,308,100

  Hospitality

  $2,114,207

  Educational

  $1,758,995

  Medical

  $1,819,490

  Retail

  $2,736,215

Location Insight

City

Waterloo

County

Black Hawk

State

Iowa

Latitude

42.4572

Longitude

-92.3597

CBSA code

47940

CBSA name

WATERLOO-CEDAR FALLS, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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