Package of Three Automatic + Self-Serve Car Washes

, VA

VA
VA-011 Package of Three Car Washes For Sale
VA
FOR SALE FOR LEASE Off Market Listing NNN Property
Property Type:
Other Special Purpose
Amount:
$3,375,000
Last Verified:
Aug 07, 2020

Overview

Portfolio of three high performing in-bay automatic and self-serve combo car washes in Virginia for sale with Real Estate included. The owner is looking to retire, despite the business being up throughout the COVID crisis and in 2020. These washes have not flinched in the way of sales or profit during these unprecedented times and offer a truly resilient revenue and profit source for a new owner. These car washes continue to grow and show no signs of stopping.

This seller has proudly owned and operated these washes for well over twenty years and continues to treat them as he always has – with constant reinvestment to keep them at their best. Great equipment and sites with no deferred maintenance or expense spared. The numbers truly reflect the quality of these sites and operations with car counts, sales, and profit all having increased every year for the past three years, including in 2020 (even without adjusting for COVID).

Sites

These three separate, but uniformly branded, car washes sit on a collective 3.25 acres of highly trafficked real estate.

The owner currently owns, and is selling, all underlying land with the washes. In addition, the owner is including two additional lots which are adjacent to one of the washes, along with an attached Lube Center. This Lube Center, for which there is a current locked in tenant in place, produces ~$65K of additional revenue to the owner (as it will for the buyer and new owner as well).

Facility and Equipment

Each site is fitted with five self-serve bays and one touchless in-bay automatic.

Buildings and equipment are all in wonderful condition and have been maintained, serviced, and upgraded on a consistent basis without any cutting of corners.

All washes and bays are equipped and setup to accept both credit card and cash, facilitating a convenient consumer experience for all.

Personnel and Setup

The current owner of these three car washes currently employees two individuals. One of these employees is full time and the other part time. Both these individuals are very knowledgeable, well equipped, and would be interested in staying on post sale if the new owner desires such.

This setup is what allows this opportunity to be true turn-key and ready to go.

Financials

In the way of performance and financials, these car washes have (and continue to be) rock solid over their entire history. 2020 (even with COVID) has been no exception to this.

Since 2017 to now, gross sales across all three washes has increased 5% a year on average each year. Gross sales over the last twelve months (as of July 2020) is even up ~3.5% from 2019 calendar year sales – even with COVID and without making any adjustments.

Over the past twelve months, these washes have produced $825K in Gross Sales. From that, these washes have consistently produced ~$455K of true EBITDA (after everything, rent, property taxes, expenses, labor – everything) each year for the past three years as well.

Financing

Given the detailed bookkeeping, records, and levels of sales and profitability – the attainment of financing on these washes will be incredibly easy and available for any qualified buyer (both via SBA and Conventional financing). A prospective buyer interested in purchasing these washes can expect to need only put 10% – 20% to make these washes their own.

Conclusion

If you are looking for a turnkey opportunity, to own your own business, and to benefit from consistent, stable and growing cash flows – this portfolio of three high performing car washes with a long and proven track record may be the right opportunity for you.


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