Portfolio | Express Exterior - OH

portfolio-of-conveyor-carwashes-for-sale-ohio-oh-under-contract

Asking Price:

$11,250,000

Snapshot

TYPE: Express

OWNER: Active

TUNNEL: 160ft

AREA: Ohio

FINANCING: Available

REVENUE: $2,500,000

CASH FLOW: $1,250,000

AVG. TICKET: $7.5

TYPE: Express

OWNER: Active

TUNNEL: 160ft

AREA: OH

REVENUE: $2.50MM

CASH FLOW: $1.25MM

AVG. TICKET: $7.5

FINANCING: Available

Overview

Two express exterior tunnel car washes ideally spaced in a high-density area for sale. Both washes are high performing. These two sites washed ~340K cars over the past twelve months. With a thriving monthly membership loyalty program, both washes are great examples of the express tunnel car wash model done correctly and the results such can yield.

Sites

Both washes are located on ~34,000 cars/day roadways with ample frontage and ideal average drive-by traffic speed.

Real Estate

The real estate (1.25 acres of land) is owned and included in the sale for both car washes.

Facilities and Equipment

Both these carwashes feature 160ft conveyors. Average equipment age for these washes is ~1.5 years old. The current owner is a seasoned and tenured car wash operator and he built and improved these with no planned intentions of ever selling. Due to such, the equipment is top-notch.

One of the two sites feature a large and natural expansion opportunity with an adjoining piece of land that can be purchased. The acquisition of this additional lot would allow for improvements that would have a significant impact on top and bottom-line financial performance.

Financials

Over the past twelve months these two car washes washed ~340K cars, grossed +$2.5MM in sales, and netted $1.25MM in cashflow.

Both washes have had reasonable, yet steady, growth throughout 2020 to date.

Conclusion

This is an opportunity to own a package of two closely (and synergistically) located car washes in a major area. These washes are high performing washes today and still have additional room to continue their current growth trajectory.

Broker Information and Disclosure

This car wash (internal listing ID NJ-014) is under an exclusive listing agreement with:

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

Kristine D. Bertrand
Glasshouse Realty Group, LLC
OH License: SAL.2015000772

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