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11410 Forest Ave - Tidal Wave Auto Spa 3,205 SF Specialty Building Offered at $5,694,292 at a 6.15% Cap Rate in Clive, IA 50325
Investment Highlights
- Long Term NNN Lease with 2% Annual Increases
- Strong Corporate Guarantee
- BTS by Tidal Wave, Site Selected & Developed by Tenant in 2022
- Accelerated Depreciation
Executive Summary
Bang Realty is pleased to present the exclusive listing for a Tidal Wave Auto Spa located at 11410 Forest Ave, Clive, IA 50325. The site consists of roughly 3,205 rentable square feet of building space on an estimated 1.52-acre parcel of land. This Tidal Wave Auto Spa is subject to a 20-year Triple Net (NNN) lease, which commenced 12/1/2022. The current annual rent is $350,199 and has scheduled increases of 2.00% annually.
Property Facts
| Price | $5,694,292 | Building Class | B |
| Price Per SF | $1,776.69 | Lot Size | 1.52 AC |
| Sale Type | Investment | Building Size | 3,205 SF |
| Cap Rate | 6.15% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2022 |
| Property Subtype | Car Wash | ||
| Zoning | C-4 | ||
| Price | $5,694,292 |
| Price Per SF | $1,776.69 |
| Sale Type | Investment |
| Cap Rate | 6.15% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 1.52 AC |
| Building Size | 3,205 SF |
| No. Stories | 1 |
| Year Built | 2022 |
| Zoning | C-4 |
Property Taxes
| Parcel Number | 291-00773001000 | Improvements Assessment | $1,300,000 |
| Land Assessment | $1,230,000 | Total Assessment | $2,530,000 |
Property Taxes
Parcel Number
291-00773001000
Land Assessment
$1,230,000
Improvements Assessment
$1,300,000
Total Assessment
$2,530,000
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11410 Forest Ave - Tidal Wave Auto Spa
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