410 Community DrNorth Liberty, IA 52317

Property Details for 410 Community Dr

Year built

2004

Construction

WOOD

Lot size

0.61 AC

Property size (Sq ft)

3,958 SF

Property type

Self service car washes

APN

612426012

APU

612426012

Description

This exceptional investment opportunity presents a thriving car wash business located at 410 Community Dr, North Liberty, IA 52317. The property boasts a substantial 3,958 square feet situated on a 0.61-acre lot, built in 2004. The car wash features three manual bays and three touchless automatic bays, complemented by a vending machine and six vacuum stations, ensuring a comprehensive customer experience. The property enjoys a strong 9.76% cap rate, generating a net operating income (NOI) of $92,732, with an asking price of $950,000. Its strategic location off Highway 965, near the Penn Street intersection, provides convenient access to Interstate 380, benefiting from increased traffic due to nearby commercial and residential development, including the University of Iowa Hospitals & Clinics North Liberty Medical Campus. This presents a compelling investment opportunity with potential for future redevelopment, capitalizing on the area's robust growth and high traffic volume. The property's strong financial performance and prime location make it an attractive asset for discerning investors seeking a high-return, established business. The single building is well-maintained and ready for continued operation or future expansion.

• CAP approach

  CAP return

  Valuation

  6%

  $1,556,626

  6.5%

  $1,436,885

  7%

  $1,334,251

• Comparable approach

  Method

  Valuation

  Relative Method

  $777,586

  Geo Method

  $777,586

• Alternative Use

  Use

  Valuation

  Residential

  $1,212,067

  Hospitality

  $1,110,246

  Educational

  $923,712

  Medical

  $955,480

  Retail

  $1,436,885

Location Insight

City

North Liberty

County

Johnson

State

Iowa

Latitude

41.7506

Longitude

-91.6071

CBSA code

26980

CBSA name

IOWA CITY, IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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