Author Topic: What do you think of this investment? Car Wash Redux  (Read 1239 times)


  • Handlebar Stache
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What do you think of this investment? Car Wash Redux
« on: July 06, 2018, 02:08:09 PM »
I've commented on prior threads on this topic to tell a MMMer that a car wash was a bad idea. So what am I doing? Coming on here to ask about a car wash :P

I would love to hear what you all think. Is this a dud? Or worth looking into more closely?

Location: Main road in small suburb though growing quickly due to commuters to larger nearby city moving in.
Description: 1 automatic, 3 manual wash bays
Asking price: $405k
Real estate appraised value (included in sale): $420k
Income: Rented for $3.5k/mo (tenant pays utilities/supplies)
Taxes: $4k/yr
Other costs: Facility built approx 10 years ago by seller. Owner responsible for equipment repair/maintenance.
Other information: I do not yet have a detailed P&L. Summary P&L is not useful as it was from when the seller managed the wash themselves. Sellers are older and I suspect retirement is reason for sale though that is conjecture on my end.