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Car Wash - Owner Financing

Location  Camden County, New Jersey, United States
Asking Price Range  < $250K
Gross Revenues  $238000
Net Profit / Cash Flow  $52000
Cash Flow Type  EBITDA
Seller Finance  Yes
Year Established  2009
Number of Employees  4 - 5
Inventory  $175,000 equipment & 1$,500 inventory.
Relocatable  No
Number of Employees  4 - 5
Real Estate  Leased
Training  The seller will remain after post closing for thirty days to supply a satisfactory training and transitional period.
Reason for Sale  Owner is absentee, out of the area involved in an alternative industry.

Modern state of the art car wash, presently owned by an absentee ownership, for this full service, five year young car wash business with option for property, located in an active commercial area of central New Jersey Camden County. This full service attractive modern facility consists of a 2,050 square foot operation with a one hundred (100) foot interior drive through. The build out cost for the business was originally $550,000 plus the value of the property. The business has a gross income of $238,000 plus seller discretionary income and can evidence a consistent net income with onsite ownership. Based on the asking price, required down payment and net income this business should supply a 27% return to the owner operator prior to debt service. The seller will remain after post closing for thirty days to supply a satisfactory training and transitional period. The sale includes a modern fully turnkey operation which includes all of the required internal equipment to maintain a successful full service car wash business including various equipment required for this particular industry and a formal list of equipment is available upon request. The sale includes a fifteen year lease term, 2029/01/01, monthly rent of $5,500 plus taxes, rental security $10,000. The business has a high volume capacity and the facility is equipped to conduct 600 washers daily. The building is 2,050 sq. ft. consisting on one floors and a no basement. This business has six employees who are unaware of the pending sale and expected to remain post-closing, monthly payroll $6,100. This facility location has substantial private parking on the site as part of the sale. The business is operational seven days weekly with hours from 8:00 am to 6:00 pm. This particular industry requires a municipal license and a certificate of occupancy from the appropriate government agency to conduct its day to day operation.

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