Car Wash for Sale in Chicago, Tunnel & Self Serve Bays

Sold

Price: $581,000

Location: Chicago

Sale Includes: The entire Business, all Equipment, and all Fixtures.

Highlights:

  • Gross sales for the last 12 months were $496,143
  • Cash flow (net profit) for the last 12 months was $216,267
  • Sales are up 15% from 2008, even in this economy
  • This business has a long history in this Chicago neighborhood
  • The current owners bought the business in June 2008
  • They spent $100,000 remodeling the car wash since June 2008
  • Almost 46,000 cars drive by this car wash each day
  • Average monthly sales are $41,020.25 (2009)
  • There are digital surveillance cameras which can be viewed online by a potential buyer
  • Monthly payroll is approximately $12,140/10 employees
  • 5 Self-Serve Bays and 1 Full-Service Tunnel
  • Current manager can fix all tunnel equipment
  • The average monthly net after all expenses including RE taxes & rent is approx $17,697.25 (2009)
  • Lease will include right of first refusal on property
  • Long Term lease is available
  • The monthly expenses are $23,323/month on average. This includes the Rent, R.E. Taxes, Chemicals, Payroll, Utilities, Insurance, Accounting & Maintenance
  • Even with the limited hours of operation, this business is averaging over $41,000 per month in sales
  • The tunnel car wash closes at 7:00pm each day and at 4:00pm on Sunday. For the 1st 11 months the tunnel car wash closed at 6pm daily and at 3pm on Sunday
  • The equipment alone is valued at approximatelty $160,000. To purchase the equipment “New” would cost $400,000 or more
  • NOTE: The owner of the business also owns the property.He likes the location so much that he will not sell the property. He will not even consider selling the property at this time. He will give the buyer “right of 1st refusal on the property”.

Listing Details

Total Sales: $496,143

Cash Flow: $216,267

FFE: $160,000

Inventory: $4,500

Location

Facilities Information:

Base rent = $5,900/mo. Annual increases = 3%. RE taxes = +/-$19,000/year. C.A.M. = Tenant responsibility.

Summary

Financing/Terms:

Owner will consider financing up to 25% of purchase price to a qualified/experienced buyer.