Car Wash Sales
Car wash real estate is a unique category and includes a wide variety of investment situations and property types. While many existing car washes offer great opportunity as continued use as an owner-operator investment, some older car washes are located on sites that could have redevelopment value that exceeds the value of the car wash as an investment. Other car wash properties may offer opportunities to be repurposed into different uses, including general retail, restaurants and automotive shops. In recent years, new modern automatic “tunnel” car washes have been developed with a focus on recurring revenue from customer subscription memberships. Many of these properties have caught the attention of institutional investors and have been sold as “net lease” investments, whereby the operator of the car wash becomes a tenant, and the owner of the property receives long-term net lease revenue.
Below is a list of recent car wash sales I’ve completed. If you own a car wash that you’re considering selling, please contact me to discuss how I can assist you in a successful sale.
Sold in 2021
Car Wash Interstate Location
42 Stone Mill Circle (@ Hwy 20)
Cartersville, GA 30121
This car wash was sold as a value-add opportunity. The car wash was operating at the time of sale, but had been neglected and needed cosmetic updates and equipment upgrades. The purchaser bought the property with the intention of making some initial cosmetic improvements and gradually updating the equipment with funds from operations. I represented the seller and worked directly with the purchaser.
Sold in 2020
Former Car Wash
Converted To Automotive Shop
1323 Merchants Drive
Dallas, GA 30132
This property was formerly a self-service car wash. It was enclosed and converted into an automotive shop with an office. I represented the seller and worked directly with the purchaser. The purchaser is operating his automotive sales and exporting business from the property.
Sold in 2020
High Volume Car Wash
3459 Powder Springs Rd, Powder Springs, GA 30127
This car wash was sold as a lease purchase. The purchaser paid a cash down payment, and the parties agreed to a lease-purchase structure that would allow the buyer to pay off the remainder of the purchase price early or refinance at any time. I represented the seller and worked directly with the purchaser.
Sold in 2019
3144 Canton Road
Marietta, GA 30066
Car wash on 1.3 acres. Redevelopment site for new automatic car wash.
This 1.3 acre property was an older car wash that was sold to a car wash developer. The old car wash was removed and a brand new automatic tunnel wash was constructed on the site. I represented the seller and did a co-op sale with the buyer’s agent.
Below are other car wash repurpose projects in the metro-Atlanta area:
Atlanta Road, Smyrna
Self-service car wash converted to general retail
East Paulding Drive, Dallas
Self-service car wash converted to restaurant
Highway 78, Douglasville
Self-service car wash converted to general use / storage