A profitable, full service car wash at a Staten Island shopping mall has hit the market this summer. The business will be sold at an asset auction where buyers will vie for ownership and possession of an all inclusive lease. The event is anticipated to attract serious buyers seeking to invest in a business that services more than 90k cars per year.
IPG Real Estate’s lead professionals managing the assignment believe the business is ideal for an existing car wash operator to rebrand and market. “We are currently in the inspection phase where interested parties can come and see the facility,” said George Donohue, President of IPG Real Estate. “Our business brokerage team is just starting to accept bids before we go to auction. This is a significant opportunity for the car wash industry because an auction is the best way for any owner to obtain a great car wash at a low price.”
Located in a spacious building, the facility includes a 90′ tunnel with Hanna equipment. There is a separate detail room equipped with rubberized floors and this area of the car wash can accommodate multiple vehicles. The new owner will also receive DRB financial software to maintain an accurate car count. The current lease term goes to August 2030, plus two five-year extensions.
“IPG Real Estate recognizes that car wash owners are very smart about their business,” Donohue said. “All interested parties are encouraged to let us know immediately that they will be attending the auction because this opportunity to purchase won’t last long. We anticipate one of the top car washes will be walking away with a steal.”
The date and time of the asset auction has yet to be announced. Contact Keith Radhuber at KRadhuber@realestateipg.com