ken, the water bills are public record, anyone can go to the water dept and request them. you should be able to figure what this wash does without records. Compare to your self serve bays in Vinton. In a smaller town, I would bet that one bay avgs. 1000/ mo. and the second bays avgs. 750/mo. These are probably the high end estimates for a town of less than 1000 people.
that figures to approx 20,000 per year gross, at best. In a small town, land is not very valuable. Three times gross is the most you would want to pay for a wash in this situation.
example:
20,000 less 2000 for property tax, less 1600 insurance, less 7800 debt service, less 3000 natural gas, less 2500 water, sewer, elec.. This leaves 3000 for repairs, maint, chemicals, and your time to go check the place once every few days. Not much profit, but you would have some tax benefits, being able to write off a loss.
What is the current asking price? Is the station included, or just the wash building?
