DOT Is Taking Our Car Wash For Widening Road

[99Roadking]

So we have found out that the NCDOT is widening the road our car wash is on. We have seen the plans and they are taking us for sure.We have a 4 bay self service wash with 4 vacuums and vending. It is a all brick structure with a metal roof. I know for sure we are gonna get screwed on this deal because the appraisal they are doing doesn't take into effect the different building with bays as opposed to a regular steel building.So the other businesses can get their money and go find a building to relocate in and keep their business rolling. We would have to find land which is crazy expensive in this area and then build a new building.The purchasing of land and buildings will begin in about a year. I have hired a Eminent Domain Lawyer Firm from another Town. Has anybody gone through this process and what was the outcome if so?

 

[soonermajic]

Sounds scary

 

[Earl Weiss]

Since you hired a lawyer who specialize in eminent domain actions he will argue the value is based on many things including the income a property generates not simply the type of structure. There can also be a "Uniqueness" factor argued.

 

[Blanco]

You may need a lawyer who specialize in eminent domain actions.

Ya he already said and done that....

 

[Blanco]

I know someone who was in the same situation as you. It was about 8-10 years ago. Ill try giving him a call tomorrow.. If his number has not changed and he does not mind I will PM you it. You can speak to him directly to get a better idea of what to expect.

 

[soonermajic]

Paging Rfreeman..... i bet he has some good advice

 

[washnshine]

So we have found out that the NCDOT is widening the road our car wash is on. We have seen the plans and they are taking us for sure.We have a 4 bay self service wash with 4 vacuums and vending. It is a all brick structure with a metal roof. I know for sure we are gonna get screwed on this deal because the appraisal they are doing doesn't take into effect the different building with bays as opposed to a regular steel building.So the other businesses can get their money and go find a building to relocate in and keep their business rolling. We would have to find land which is crazy expensive in this area and then build a new building.The purchasing of land and buildings will begin in about a year. I have hired a Eminent Domain Lawyer Firm from another Town. Has anybody gone through this process and what was the outcome if so?

Sorry to hear that. Getting a lawyer was probably the best first step to maximize your chances at a fair valuation. Good luck and let us know how it goes.

 

[Rfreeman]

Paging Rfreeman..... i bet he has some good advice

I went through this last year on a wash I owned. My strategy going into buying the wash was that Tx DOT would eventually buy me out sooner than later.

Mine didn't get to an eminent domain hearing we were able to negotiate a great deal and I sold. Out of the gate I told them if this is going to be eminent domain I'll lawyer up because we're not going to agree on value.

They hired an appraiser, who like most, didn't know jack about valuing a wash. Said the cash flow was business value and he can't consider it in determining value of the property.

Long story short, I negotiated a price 150% higher than their initial offer. Be glad to give you more details of my experience, send me a PM and we can setup a call if you like.

 

[MEP001]

Just an anecdote and not advice.

A wash in town was purchased and rehabbed for the sole purpose of running a large amount of funds through. The new equipment was installed for easy removal. Eminent domain paid many times what the guy paid for it three years prior since it was "making $300k a year." Equipment was removed and sold, building was bulldozed and it still sits there an empty lot ten years later.

 

[washnshine]

Just an anecdote and not advice.

A wash in town was purchased and rehabbed for the sole purpose of running a large amount of funds through. The new equipment was installed for easy removal. Eminent domain paid many times what the guy paid for it three years prior since it was "making $300k a year." Equipment was removed and sold, building was bulldozed and it still sits there an empty lot ten years later.

I see what you are saying he did, but didn’t he take quite a loss on the equipment, or did he have a buyer who understood what was going on? Or, did the selling price make it all a non issue?

 

[MEP001]

The guy who installed the equipment got it back, cleaned it up and resold it. He knew what was going on.

 

[Randy]

The only car wash operator that know who lost his car wash to DOT pretty much got screwed. After attorney fees he pretty much got land value and was lucky to get that. He got to take everything from the car wash and left an empty shell. It was probably 5 or 6 years before the state did there project.

Another guy I know was bought out by the city. His car wash was next to city hall and they wanted his car wash so they could build a new city hall. The city offered him more than he wanted so he sold it. After he sold it the city couldn’t get a funds to build the new city hall so the city is running the car wash now.