2145 Kimberly RdDavenport, IA 52807

Property Details for 2145 Kimberly Rd

Year built

2001

Lot size

1.75 AC

Property size (Sq ft)

12,412 SF

Property type

Car washes

APN

N1815-01B

APU

N181501B

Description

Exceptional investment opportunity: This thriving Pro Clean Car Wash, located at 2145 E Kimberly Rd, Davenport, IA 52807, offers a compelling return. The 12,403 square foot facility sits on a 1.77-acre lot and boasts a strong 6.50% cap rate, generating a net operating income (NOI) of $216,366. Built in 2001 and renovated in 2021, the property is currently operating under a 20-year triple net (NNN) lease, with 15 years remaining, commencing October 24, 2019, and expiring October 31, 2039. The lease includes a corporate guarantee from the operator, eliminating landlord responsibilities. The asking price is $3,328,708, translating to $268.38 per square foot. Annual rent is $216,366 with scheduled 1.50% annual increases. This property qualifies for bonus depreciation, further enhancing its investment appeal. The 100% occupancy rate underscores the consistent demand and profitability of this established car wash business. This is a turnkey investment with significant long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,294,467

  6.5%

  $3,041,046

  7%

  $2,823,829

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,175,466

  Geo Method

  $4,073,991

• Alternative Use

  Use

  Valuation

  Residential

  $2,565,236

  Hospitality

  $2,349,743

  Educational

  $1,954,958

  Medical

  $2,022,192

  Retail

  $3,041,046

Location Insight

City

Davenport

County

Scott

State

Iowa

Latitude

41.5561

Longitude

-90.5453

CBSA code

19340

CBSA name

DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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