4200 York StSioux City, IA 51106

Property Details for 4200 York St

Year built

2021

Lot size

0.84 AC

Property size (Sq ft)

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.

• CAP approach

  CAP return

  Valuation

  6%

  $990,673

  6.5%

  $914,468

  7%

  $849,148

• Comparable approach

  Method

  Valuation

  Relative Method

  $561,301

  Geo Method

  $561,301

• Alternative Use

  Use

  Valuation

  Residential

  $771,388

  Hospitality

  $706,587

  Educational

  $587,872

  Medical

  $608,090

  Retail

  $914,468

Location Insight

City

Sioux City

County

Woodbury

State

Iowa

Latitude

42.4344

Longitude

-96.3716

CBSA code

43580

CBSA name

SIOUX CITY, IA-NE-SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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