Selling one of my turnkey carwashes

[Roz]

Crexi.com

Photos, maps, description for commercial real estate

www.crexi.com

CAP Rate is between 12-15% depending on the owner and the amount of work they are able to do vs outsourcing the work.

 

[OurTown]

You might consider putting it here:

https://www.carwashforum.com/forums/for-sale-washes-equipment-supplies.45/

 

[Car_Wash_Guy]

Nice wash! Good luck with the sale. I’m trying to sell mine to be closer to my dad .

What is your tax plan? 1031?

 

[Roz]

Nice wash! Good luck with the sale. I’m trying to sell mine to be closer to my dad .

What is your tax plan? 1031?

Ideally 1031. Trying to reduce the amount of driving I do between three locations. Probably keeping the closest location but who knows.

 

[slash007]

Crexi.com

Photos, maps, description for commercial real estate

www.crexi.com

CAP Rate is between 12-15% depending on the owner and the amount of work they are able to do vs outsourcing the work.

Did you price it based on a cap rate or multiple?

 

[Roz]

CAP rate as that represents cash flow.
I have heard of and familiar with the multiple of gross revenue approach but it can yield unrealistic price depending on the revenue.

no approach is perfect as a carwash requires ALOT of assets to make the magic work.