Express + Self Serve - NY

conveyor-tunnel-car-wash-NY-New-York-Full

Asking Price:

$1,100,000

Snapshot

TYPE: Express + Self Serve

OWNER: Passive

TUNNEL: 80ft

AREA: New York

FINANCING: Available

REVENUE: $530,000

CASH FLOW: $250,000

AVG. TICKET: $8

TYPE: Express + SS

OWNER: Passive

TUNNEL: 80ft

AREA: NY

REVENUE: $530K

CASH FLOW: $250K

AVG. TICKET: $8

FINANCING: Available

Overview

Completely redone express exterior tunnel car wash situated on an ideal lot and in a great location. This wash features all new equipment, a completely redone facade, and a thriving and growing monthly membership program. In terms of complete setup, it’s hard to beat this wash.

In addition to the conveyorized automatic tunnel, this car wash features two additional sources of synergistic income. Boasting three top-of-the-line and integrated self-serve car wash bays, this additional revenue source allows for this car wash to cater towards an even larger market of consumers. On top of that, this wash even features additional rental income in the way of a separate detail garage that’s sub-rented to a third party.

Site

Situated right on the corner of a four-way major roadway intersection, the location of this car wash is ideal. The large 2-acre site has allowed for the creation of an optimal ingress / egress setup, while simultaneously providing the capacity for significant car stacking.

Long term triple net (NNN) ~30 year lease with Right of First Refusal to Purchase. Rent of ~5,000K per month.

Setup

The wash consists of an 80ft conveyorized tunnel, three self-serve bays, six vacuum stations, two sub-rented detail garages (which can be reclaimed by the new owner if desired), and vending.

Facility and Equipment

This entire car wash was completely and totally redone 2018. All the equipment and the exterior of the wash itself were entirely revamped. No expense was spared during the remodel. Brand new conveyor, wraps, top brush, mittens, poodle brush, rockers, blowers, rinse/polish arches, LED bars, new signage, Washify POS, tunnel master controller, air compressor, hydraulic power back, electrical wiring, and more.

In addition to all the physical site improvements that were made, there has also been considerable work put forth in successfully developing a brand image, online presence, and recurring monthly membership program.

Financials

This car wash produced ~$530K in revenue over the past twelve months, washed ~65K cars during this period, netting ~$250K. This car wash is growing and will continue to grow. 2019 revenue grew 89% in comparison with 2018. 2020 revenue is already up over 10% in comparison to the same time period for 2019.

Competition

Competition around this wash is minimal. Of the limited competition that is present, none feature this level of equipment or this desirable of a location.

History and Background

This car wash was purchased by the current owners in 2018 with the goal of taking an underperforming wash in a wonderful location and turning it around. The owners have been successful in doing so, and despite there being even more growth to be captured moving forward, they are both ready to move on to what’s next in their life.

Next Owner

This is an ideal wash for a first-time car wash owner. Featuring brand new equipment, continued growth, an ideal facility layout, and a staff that is looking forward to staying on with the new owner – this is a true turn-key opportunity. A new owner doesn’t have to worry about big ticket equipment replacements coming up. This wash model requires minimal labor, high margins, and high-volume throughput. This is a great first wash for someone thinking of getting into the car wash industry.

This car wash would also make a welcomed and valuable addition to any pre-existing car wash portfolio. If you already own a car wash, and are looking to expand, this is a fantastic candidate for doing so.

Financing

Financing on this wash is not only available, but available at very attractive rates. Qualified buyers should expect to only need to put 10% down to purchase this car wash.

Conclusion

This is an opportunity to own a wash done right. This is a true turn-key business, with all new equipment, that is poised for continued growth. With an unbeatable location, a fresh look, and minimal competition - this car wash is the complete package.

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