Automatic + Self Serve - FL

SOLD-IBA-SS-car-wash-for-sale-Florida-FL

Asking Price:

$2,450,000

Snapshot

TYPE: Automatic + Self Serve

OWNER: Passive

BAYS: Six Total

AREA: Alachua County, FL

FINANCING: Available

REVENUE: $525,000

CASH FLOW: $350,000

AVG. TICKET: $11

TYPE: IBA + SS

OWNER: Passive

BAYS: Six Total

AREA: FL

REVENUE: $525K

CASH FLOW: $350K

AVG. TICKET: $11

FINANCING: Available

Overview

Top-of-the-line In-Bay Automatic and Self-Serve combo car wash for sale. Still owned and run by the original owners who built the wash 20 years ago. No corners were ever cut, and the site and equipment have been maintained and reinvested in consistently over the years. Car counts and financials reflect the level of care the owners have always put in, and the high-quality product and service this car wash produces for its customers. This car wash is located amid large and recently completed commercial and residential development projects. The wash itself is situated right between large big-box stores.

Site

The wash sits on three quarters of an acre of land (included in sale price). The wash consists of four self-serve bays and two in-bay automatic bays, a dog wash, and twelve vacuum stations with canopies.

Facility and Equipment

The site and equipment have been meticulously maintained. The care and pride the owners have always had are reflected in the current state of the equipment and facility. In addition to the $30k per year the owners have always spent in maintenance and repairs to keep the site and facility at its best, the owners have spent an additional $200k in verifiable and accounted for Capital Improvements over the past three years alone. This includes new in-bay automatic machines, the addition of crypto pay and touch4wash app, new canopies, upgraded to LED lighting, vacuum motor upgrades (from two motor to three motor setup), and more.

The owners have also made significant investments towards the branding and public image of the car wash in the ways of a professionally created website and social media accounts.

Financials

This car wash continues to grow at +15% a year, and produced $525k of revenue in 2019, while converting ~$350k of that into EBITDA.

Competition

There is very little competition around this wash. The limited competitors that do exist don’t have the same quality of facility or end-product.

History and Background

This wash is still owned by the original owners who built the wash from the ground up nearly 20 years ago.

The owners are retiring and would like to sell this wash to someone who will keep this wash running at its best.

Next Owner

This is a great wash for new owners. With fully updated and well cared for equipment, this wash has no hidden future capital expenditures that will be required. Additionally, the location provides proverbial “safety bumpers” for new owners given the traffic count and site location. Lastly, the in-bay automatic / self-serve wash requires no employees and is the ideal wash type for passive absentee owners. This wash is no exception and would provide an attractive, predictable, stably growing return for a new owner.

This wash would also nicely fit into any pre-existing car wash portfolio that an industry participant currently owns. Although a membership program has been created and is running, the program is in its infancy and has never really been promoted or pushed by the current owners. There is a clear opportunity for monthly membership upsell for any wash operator who wants to promote this program and potentially integrate across other pre-existing sites they may already own.

Financing

This property and business have been pre-approved for both traditional commercial financing and SBA financing. Given the location, real estate value, financial figures, and state of the equipment and site, financing will be a breeze for any buyer. Qualified buyers should expect to be required to put down 10% to be the proud new owner of this car wash.

Conclusion

Here is an opportunity to own a wash that has been taken care of to the highest level. Located in a great location, with only additional upside from here, this opportunity provides an attractive return and fantastic business for either first time car wash owners or those already in the industry that are looking to expand their footprint.

Broker Information and Disclosure

This car wash (internal listing ID FL-005) is under an exclusive listing agreement with:

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

Tania Diaz
Real Broker LLC
FL License: SL3432485

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