2539 ArterialDubuque, IA 52002

For Sale
$6,335,878

High-Yield Car Wash Investment

Overview

Added:
Dec 11, 2024
Days on market:
90
This exceptional investment opportunity presents a 3,600 square foot Tidal Wave Auto Spa located at 2539 NW Arterial Rd, Dubuque, IA, 52002. Situated on a 1.8-acre lot, this property boasts a 20-year NNN lease, commencing December 28, 2022, and expiring December 27, 2042, with a remaining term of 18.1 years. The current annual net operating income (NOI) is $415,000, representing a 6.55% cap rate. The property benefits from a corporate guarantee and 100% occupancy. This prime location within a strong retail corridor features high traffic counts exceeding 18,800 vehicles daily on NW Arterial Rd. The surrounding area includes numerous power centers and retailers such as ALDI, Sam's Club, and Kohl's, along with a strong academic presence from institutions like the University of Dubuque. Average household incomes within a 3-mile and 5-mile radius exceed $117,300 and $100,900 respectively, indicating a robust market for car wash services. The building was constructed in 2022. This is a turnkey investment with significant long-term potential. Annual rent increases of 2.00% are scheduled, commencing in year seven.

Highlights

  • Affluent Suburban Location with high average household incomes exceeding $117,300 within 3 miles and $100,900 within 5 miles.
  • Prime Retail Location near major retailers including ALDI, Sam's Club, Kohl's, and numerous restaurants.
  • Proximity to strong academic institutions with over 4,400 students.
  • High-traffic location on NW Arterial Rd with over 18,800 vehicles daily.

Property Details for 2539 Arterial

Property type
Other specialty properties, Automotive properties
Square Feet
3,600 SF
Year Built
2022
Lot Size (sq. ft)
78,408 SF

Location Insight

City
Dubuque
County
Dubuque
State
Iowa
Latitude
42.5201109
Longitude
-90.7409763
2539 Arterial, Dubuque, Iowa

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2539 Arterial
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