Looking at purchasing a SS 4 bay

[Casemann27]

Hi all. I am brand new to all of this. There is a 4 bay that is up for sale and I have some questions for all you with knowledge.
The seller seems to be a contractor who bought the property in 22 for 175K. He has re-habed everything about the building and the grounds. I wont know about the equipment till next week.
My question is this really. He is asking 420K. This seems like a ridiculous price. He cant provide P&Ls because he has never had all 4 bays up and running at the same time. At least not till this last month. What are your thoughts on not being able to provide complete P&Ls?

 

[washnshine]

Hi all. I am brand new to all of this. There is a 4 bay that is up for sale and I have some questions for all you with knowledge.
The seller seems to be a contractor who bought the property in 22 for 175K. He has re-habed everything about the building and the grounds. I wont know about the equipment till next week.
My question is this really. He is asking 420K. This seems like a ridiculous price. He cant provide P&Ls because he has never had all 4 bays up and running at the same time. At least not till this last month. What are your thoughts on not being able to provide complete P&Ls?

Hard to tell from the pics, but it looks like a very small lot with almost no stacking or detailing space. Cars in line need to be able to have access to bays as they free up, and room to vacuum, dry and utilize vending products after they wash is essential.

 

[Greg Pack]

Property value, demograpics, and traffic are going to play a big role. Wash needs to have a potential of grossing 100K or so to make sense as a car wash investment.

 

[Randy]

I’d be very apprehensive about buying this car wash without any P&L. I’ve been to this car wash and it has been run down for some time. It looks to me like the contractor who bought the property did a pretty nice job of putting on some lipstick. I’d like to know what kinds of repairs or upgrades he did to the equipment. Car washes in Western Washington are expensive due to the high land costs. I don’t know what property costs are in Post Angeles are. You might try leasing the car wash for 6 months or so to see if it will work.

Commercial Brokers Association Members Site - - Lynnwood, WA

www.commercialmls.com

 

[traveler17]

IMO that wash is worth the dirt and the equipment. There is no business “yet”