Express Carwash - PA

Snapshot

Overview

Express exterior tunnel carwash washing +110K cars per year with no membership program in place. Top-Notch equipment, low labor, long-standing team, and true turn-key operation.

Financials

Grosses +$1.5MM in annual sales and nets just shy of $1.0MM in EBITDAR. Of this, $665K is converted to EBITDA (post rent due to the NNN lease).

Up on all accounts (car counts and volume, revenue, and margins) throughout 2020 with no adjusting at all for being down an entire month due to COVID.

Land and Site

Real estate is leased. Landlord will set brand new 20 year lease with two additional 5 year extension options. Lease will feature a RoFR as well.

Rent on the new lease is to be set at $325K per annum, resulting in ample 3x Rent Coverage on an EBITDA basis. This is an absolute simple fee NNN lease.

Financing

This business has been pre-approved for both traditional commercial financing and SBA financing. Given the location, long-history, financial figures, lack of both current and potential new competition, and state of the equipment and site - financing will be a breeze for any buyer. Car Wash Advisory is able to provide attractive best-in-market financing for any and all qualified buyers. Said qualified buyers should expect to be required to put down 12.5% - 17.5% to be the proud new owner of this car wash.

Broker Information and Disclosure

This car wash real estate (internal listing ID PA-016) is under an exclusive listing agreement with: