High Volume Car Wash with R/E For Sale

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Asking Price:
$2,450,000

Gross Revenue:
$853,551
Cash Flow:
$244,061
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$8,500
included in asking price

FF&E:
$77,355
included in asking price

Real Estate:
$1,825,000
included in asking price

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Business Description

OUTSTANDING LOCATION WITH GREAT VISIBILITY. DON'T MISS THIS OPPORTUNITY!!!

Listing price of $2,450,000 includes Real Estate ($1,825,000) & Car Wash ($625,000).

This is a turnkey opportunity to purchase a high volume Car Wash that has been operating from the same location for 30+ years.

There is a strong manager in place who has been with the current owner for the past 15 years.

The Car Wash is situated on a prime piece of Real estate that is 30,550 Sq. Ft. in size (.70+ Acres) and is operated out of an attractive 4,200 Sq. Ft. facility that is well maintained & appointed.

The Owner of the Car Wash has an adjacent hard corner lot for sale for $295,000 (not included in listing price). This property is 7,384 Sq. Ft. (.17+ Acres) in size and currently has a duplex sitting on it. Purchasing this site would be very advantageous to a buyer, as it would provide better ingress and egress, allow room for expansion of the existing wash facility, provide better parking and increase visibility to the high traffic count in this area.

Both parcels are zoned CG- Commercial General. The adjacent hard corner lot currently has a duplex on the property, which is being rented at below market rates.

This is a value add opportunity for the following reasons:

1) Carwash currently operates on a DOS system. A software upgrade would increase returns
2) A Manpower study should be facilitated
3) Hours of operation are less than the competition. The Seller recently opened an express lane, which currently shuts down with the full service. The express lane should be left operating for longer hours, with less manpower
4) The adjacent hard corner should be redeveloped for additional and better ingress and egress, parking and moving the additional services to front street

About the Business

Location:
Florida
Year Established:
1988
Number of Employees:
12,including mg
Real Estate:
Owned
Building Sq. Ft.:
4,200
Facilities:
4,200 Sq. Ft.Facility, with one tunnel that is roughly 90 foot in length and a conveyor belt that is roughly 100 foot in length. The building consists of a detail bay, a customer lounge and a storage area. The Facility sits on a 30,550 square foot parcel of land (.70+ Acres).
Market Outlook/
Competition:
There is no real competition in the immediate area.
Growth & Expansion:
There is tremendous growth opportunity for a new owner. The population in Florida increased by 12% since 2010 and ranks # 4 in the country. This growth is expected to continue. A tech savvy buyer with an aggressive marketing campaign could take this car wash to a whole new level. The current owner is basically an absentee manager typically only spending several hours a week at the Car Wash. He feels that labor is high and could be reduced by 10-12% if he were more hands on. They do not currently have a car wash club service in place, which could also generate another steady stream of income for this business.
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About the Sale

Reason For Selling:
Owner has reached retirement age and is divesting himself of assets.
Training/Support:
The manager who has been with the owner for 15 years will probably stay on after a sale to a new owner. It would not be necessary for the owner to stay on, but he would remain available for consultation for one week following the sale of the business. Any further requirement for him to remain on longer than one week, would be subject to negotiation between him and the buyer as to a consulting fee arrangement.
Seller Financing:
Do not wish to sell carwash separately

Listing Info

ID:
1492030
Ad Detail Views:
1296

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Business Listed by

Hank Goldsby

Merritt Realty Corporation
License# SL3280549

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