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ACQUISITION OPPORTUNITY #S-2086
7 BAY SELF SERVICE CAR WASH, 1 AUTOMATIC BAY – WEST CHESTER,
OHIO
For sale is a car wash with six self service car bays, one high
ceiling truck bay; one automatic bay; one detailing bay; and a
mechanical room (heated bay floors). A total of 4394 square
feet comprise the structure, on a lot size of approximately 1.5
acres zoned retail.
Located
on a busy highway with a traffic count of 15,000 cars a day.
The property generates $20,000 per year from
renting a portion of the property not used by the car wash.
The car wash was purchased in 2007 by the current owner for
$700,000 (appraised for $720,000). He immediately spent $300,000
on new equipment for the automatic bay along with improvements
in the self service bays.
The owner has a full-time job and does almost no maintenance
himself. With the economy sinking soon after his purchase and
little time to promote this business and attract customers, the
owner recognizes that this has been a poor investment.
With the amount of traffic passing by each day and significant
housing surrounding it, this business should be producing more
revenues than it does. Regardless, the owner is willing to take
a substantial loss to accomplish the sale as quickly as
possible. Accordingly, although he has $1,000,000 invested, the
business and property are for sale at $595,000.
A risk / opportunity assessment six month lease with option to buy,
is available at $4,500 per month.
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4
Months |
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9
Months |
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2010 |
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2009 |
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2008 |
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2007 |
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Sales |
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24,230 |
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57,075 |
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58,900 |
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47,593 |
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Rental
Income |
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6,800 |
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22,851 |
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24,237 |
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17,304 |
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Total
Income |
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31,030 |
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79,926 |
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83,137 |
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64,896 |
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Adjusted (EBITDA) |
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26,870 |
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37,947 |
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28,613 |
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Earnings
Before Interest, Taxes, Depreciation & Amortization
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FOR FURTHER INFORMATION CONTACT:
KEATE PARTNERS
7783A Five
Mile Road
Huntington
Bank Building
Cincinnati,
OH 45230
(513)
241-3700 Fax (513) 852-8325
www.keatepartners.com
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