Halo Car Washes Available - Two locations

Business Opportunity for Sale
Catylist Listing ID: 30416525
Property Subtypes: Auto Related
Building Size (RSF): See Agent
Sale Price: $1,375,000
Name of Establishment: Halo Car Wash
Year Business Established: 2000
Gross Revenue: $408,000 (Annual)
Cash Flow: $189,713 (Annual)
Cash Flow Type: EBITDA
Sale Terms: Cash at closing, immediate possession, 30 day owner training.
Last Updated: 10/24/2019

Overview / Comments

Profitable, successful, and well maintained car washes. Excellent opportunity for passive income. Both properties are located a block or less from hard stoplights and two of the busier Evansville travel corridors, North First Ave and North Green River Rd. Both car washes are located in busy commercial business areas, and close to large residential communities. Owners have continually improved the properties and have updated almost all the equipment since purchase, including new credit card systems on all bays and vacuums, and a new laser automatic wash bay in 2018. Potential for increased sales at the Morgan Center car wash due to a nearby competitor closing. Business could also be increased at both locations with consistent advertising.

Car Washes can be purchased separately - North Park @ $925,000 and Morgan Center @ $450,000. Cap rate for both @ 14%, North Park @ 15%, and Morgan Center @ 11%.

Financials provided to qualified buyer upon request.

Additional Details

Nearest MSA: Evansville
County: Vanderburgh
Industry Segment: Carwash
Reason for Selling: Retirement
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Real Property
Value of Real Estate Included ($): $0

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,911 56,573 139,643
Median Age: 41.2 39.68 38.26
Households: 3,867 23,837 58,996
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