Express Car Wash - MI

car-wash-express-tunnel-for-sale-michigan-mi

Asking Price:

$1,499,000

Snapshot

TYPE: Express

OWNER: Passive

TUNNEL: +100ft

AREA: Michigan

REAL ESTATE: Included

FINANCING: Available

REVENUE: $625,000

CASH FLOW: $210,000

AVG. TICKET: $6

TYPE: Express

OWNER: Passive

TUNNEL: +100ft

AREA: MI

REAL ESTATE: Included

REVENUE: $625K

CASH FLOW: $210K

AVG. TICKET: $6

FINANCING: Available

Overview

True high volume express exterior tunnel car wash. Topline has grown +15% per year for the past three years and shows no signs of slowing down. Currently washing over 100k cars per year and has significant room to grow further. Membership subscription program is up, running, and doing very well.

Site

The wash sits on half an acre of land (included in sale price) and features a +100ft tunnel.

Facility and Equipment

This car wash has been well maintained. Owner has made consistent and significant reinvestments in repairs, maintenance and capital improvements. Over $40k has been spent each year on equipment and site maintenance.

Financials

Revenue over the last twelve months was $625K. Topline is consistently growing 15% a year on average over the past three years.

The wash converted ~$210K to EBITDA over the last twelve months and is easily capable of far higher margins through ticket price optimization and more careful management of labor.

Next Owner

This is a great wash for both new owners and those with current or prior car wash industry experience. Although well run, this wash presents significant opportunity for additional upside potential in the ways of both increasing topline revenue and decreasing costs.

Financing

This car wash have been pre-approved for both traditional commercial financing and SBA financing. Buyers who would like to utilize financing should expect to be required to put down 10% - 25% down.

Conclusion

This is the model of car wash that everyone is after. Low labor, high volume, free vacuums, predictable cash flows, and high margins.

Broker Information and Disclosure

This car wash (internal listing ID MI-011) is under an exclusive listing agreement with:

Harry H. Caruso
CWA & Real Broker Commercial LLC
NY License: 10401336251

Becky Smith
Production Realty
MI License: 6501404113

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