Express - NJ

express-tunnel-car-wash-for-sale-new-jersey-nj

Asking Price:

$750,000

Snapshot

TYPE: Express

OWNER: Passive

TUNNEL: 100ft

AREA: New Hanover, NJ

FINANCING: Available

REVENUE: $215,000

CASH FLOW: $125,000

AVG. TICKET: $13

TYPE: Express

OWNER: Passive

TUNNEL: 100ft

AREA: NJ

REVENUE: $215K

CASH FLOW: $125K

AVG. TICKET: $13

FINANCING: Available

Overview

This is a true express exterior tunnel car wash. This is the model that everyone is after. Low labor, high throughput, fast wash times, etc... the true express model. The wash has recently been completely redone. This car wash is a turnkey business with all new equipment throughout.

Don't let the current financials mislead you - this wash is poised for serious growth. Growth that it is already experiencing, and growth levels that more than justify the price.

Site

The wash sits on over 2.5 acres of land (included in sale price). Upon the lot sits a 100ft express tunnel, along with 6 self serve bays in the rear. Additionally, this wash features a full central vacuum setup.

Phase 1 Environmental Report recently done, passed, and all set.

Facility and Equipment

New equipment includes but is not limited to, blowers, lava arch, tire shine brushes, two air compressors, ICS tunnel master controller, and more. The current owner has spent ~$225K on new equipment and a complete facility rehaul over the past six months. Canopies, signage, and all external branding has also been redone.

An EverWash powered Unlimited Monthly Membership Program has been setup, launched, and is running. This allows for members to signup, manage, and utilize their membership entirely through a mobile app. This car washes fully functioning and high traffic website also comes with the purchase.

Financials

In the six months since the wash has been completely redone and re-opened, it is already grossing over $20K a month. Experiencing a 12% growth rate per month since the revamp, this wash will continue to grow for the new owner. This wash will produce $400K annually with the correct owner. Monthly numbers have already doubled since reopening and show no signs of slowing down.

Competition

Competition is essentially nonexistent here. This is the only tunnel car wash in well over a 10 mile radius. This wash owns the local market.

History and Background

The owner prior to the current one was completely absentee. This owner operated the wash just six days a week and only 6 hours a day. The owner provided inconsistent, unreliable, and less than adequate quality. This owner closed the wash and sold it to who is now the current owner.

The current owner is a seasoned car wash professional and operator. This owner purchased the wash six months ago and has completely turned it around. During this time he has done a complete and full rehaul and revamp. The current owner is now unexpectedly moving and is looking to sell. This owner is willing to do a reasonable transition period with a buyer.

Next Owner

This wash can be run completely arms-length and operates with just one employee at a time. The current three employees (who switch days) are all willing to stay on with the new owner post-purchase.

Financing

Financing terms are all arranged and setup for qualified buyers. This property and business has been pre-approved for SBA and commercial conventional financing. Additionally, for the correct buyer, the seller is willing to consider the option of doing some seller financing under the appropriate terms.

Conclusion

Great opportunity for first time buyer, a 1031 exchange candidate, or to expand an existing car wash portfolio. This wash is priced to sell and will not last long.

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