High Performing 2 Unit Car Wash Portfolio for Sale

Special Purpose for Sale
Sale Pending/Contingent
Catylist Listing ID: 30749866
Status: Pending/Contingent
Building Size (RSF): 7,420 SF
Gross Land Area: 1.07 Acres
Sale Price: $1,484,000
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: 9.95%
Last Updated: 8/26/2021

Overview / Comments

Absolute Investment Realty has been selected as the exclusive representative of the owner of the high-performing “Rocky Mountain” 2 car wash portfolio located in Albuquerque, NM. Both properties are located on busy thoroughfares in centralized areas of the city. These established car washes are meticulously maintained and have proven income with opportunity for upside.

Both properties have experience income growth through the recent covid pandemic Income growth in 2021 has been exceptionally strong is trending toward nearly $220,000 in NOI. This portfolio is poised for a new owner to implement enhancements and realize even more potential. Don’t miss this fantastic opportunity to acquire two of the most desirable car-wash locations in Albuquerque.

The Rocky Mountain Car Wash Portfolio consists of 2 high-performing, well maintained car was properties located in Albuqueqrue, NM:

1209 San Mateo is located just north of the intersection of San Mateo & Lomas Blvd.

13009 Lomas is located on Lomas Blvd. between Juan Tabo & Tramway.

Self-service car-washes offer consumers an opportunity to clean their own vehicles at affordable prices, bucking the trend of high-dollar full service and quasi full-service car washes,

The tried-and-true self-service car-wash model offers consumers an affordable opportunity to clean their own cars at a fraction of the price of the trendy high-dollar full service and quasi-full-service drive through car washes. Business at the Rocky Mountain Car Washes has steadily grown over the past several years, despite covid and growth of automated drive-through car wash businesses, illustrating the demand for inexpensive self-service car-washes.

Both properties presently charge $2.00 for 3 minutes of wash time, which is significantly below the market rate of $3.00 for 3 minutes, giving the new buyer an immediate opportunity to increase revenue by 30%. The properties operate on all cash and each has multiple bill-changers. However, the buyer has the opportunity to further increase market share by installing machines that take credit cards and/or moving to a token operated system.

This well-maintained investment is the perfect opportunity for an enterprising buyer looking for a turn-key business with high-quality real estate and huge growth potential.

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: University
Tax ID/APN: 101705852209841606
Property Located Between: Just north of Lomas
Property Visibility: Excellent
Largest Nearby Street: Lomas & San Mateo
Feet of Frontage: 150
Traffic/Vehicle Count: 36,800
Area Description: The property is centrally located near the intersection of Lomas Blvd & San Mateo Blvd in the heart of the city of Albuquerque. This well-established trade area is extremely dense and keeps the car wash busy. The area is also a major shopping destination and includes major retailers such as Sprouts, True Value, T-Mobile, Ace Hardware, among others. San Mateo runs the north-south length of the city and is both a free-way on/off ramp for I 40. Lomas Blvd. runs nearly the entire east west length of the city and city and connects the major employment nodes of down town and UNM, with the city.
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Parking Type: Surface
Zoning Description: MX-L

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,863 141,226 318,675
Median Age: 40.69 36.07 37.68
Households: 9,054 62,718 140,402

Contact

Photograph of Listing Agent

Alfredo Barrenechea

Absolute Investment Realty CARNM CIE Member
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