Express exterior tunnel car wash with real estate included for sale. Recently redone by the current owner who is now relocating. This wash is setup to be the highest volume wash in the area. Cash flow positive and growing today, poised for significant incremental future growth, and ready for a future owner to bring this wash to its full and true potential.
In addition to the main conveyorized tunnel wash, the building includes a large ancillary wing that is currently unused. This provides the next owner with the ability to immediately add a significant and additional secondary source of revenue and profit. Whether it be a lube center / oil change center, self-serve or in-bay automatic bays, or an entirely other business unrelated to the automotive industry – the future owner will be the beneficiary of this blank slate and natural second profit-generating center at this site.
This carwash sits on 0.85 acres, the real estate owned and included in the sale. The lot is laid out in an ideal configuration allowing for significant car stacking, ample vacuum stations, an emergency exit lane, and high-volume accommodating turn radii. The site also features significant 145ft of main street direct frontage with over 17K cars passing directly by and in front of the site on a daily basis. The site also benefits from having well water access and thereby greatly reducing one of the main operating expenses traditionally incurred in the car wash business.
The wash is currently configured as an express exterior tunnel wash but has an entire wing of the building with three double-deep bays that are currently entirely unutilized.
The owner has spent a verifiable and demonstrable $750K in revamping this location since it’s late 2019 opening. The equipment is in great shape and mostly new across the board. Primary equipment includes:
This wash has a small team of dedicated and experienced employees (and manager) that would all welcome the opportunity to stay with the new owner (if so desired by the new owner). For first time owners looking for a turn-key opportunity with a team in place – this is a perfect opportunity.
This car wash generated $290K of revenue during its latest true twelve months of operations. Of the $290K in gross sales, this wash converted $85K to true EBITDA.
The wash having finished its major renovations and being opened during the tail end of 2019 - with no true marketing, advertising, nor promotions, this wash grew sales by +16% and car count by 42% on a YoY basis.
Competition is minimal and this is an opportunity to be “The” express car wash in the area. Despite being on the most heavily trafficked main road in the area, being densely surrounding by rooftops and homes, and being directly across the street from the largest big-box stores in the area, this car wash is the only tunnel wash within a three-mile radius.
This car wash will continue to grow on its own due to being in such an attractive, highly trafficked and low competition area, regardless of whether the new future owner takes targeted steps to improve the wash even further. That said, there are several very impactful and “low-hanging fruit” types of improvements that could immediately done and would rapidly accelerate the car washes growth towards what is it’s true and natural potential – washing +75K cars per year.
Given operating and financial figures to date combined with the strong and high-value land and real estate on which the wash sits, which is included in the sale of the business here – both Conventional Bank and SBA financing are readily available for most buyers. Buyers should expect to need put 15 - 25% of the purchase price down as cash equity to purchase.
This car wash (internal listing ID IN-012) is under an exclusive listing agreement with:
Harry H. Caruso
CWA & Real Broker Commercial LLC
NY License: 10401336251
Linda S. Konrath
IN License: RB14036463